PRR FINAL RECOMMENDATIONS
Thank you to everyone that shared their input in the London Market Group (LMG) Data Council’s Process, Roles and Responsibilities (PRR) consultation earlier this year. Having considered the feedback provided, the PRR Final Recommendations are now available.
Below you can access the PRR Final Recommendations and the one pager Market Journey.
What are the PRR Final Recommendations?
A key deliverable that sets out the final recommendations for a fully digital open market placement process, and the allocation of roles and responsibilities for the creation, approval and submission of data into the Core Data Record (CDR) and the processing of that data. The focus is on who performs specific tasks, when these tasks occur, and how they could be performed.
Please note, some of the implementation detail requested in the consultation will be available within additional resources provided through the broader Blueprint Two program. These resources include the ACORD GRLC Contract, Risk and Pre-Accounting Toolkit and the Good Practice Guide (to be published in September/October 2023). These resources will provide practical guidance and valuable insight to help align with the PRR recommendations and facilitate successful implementation.
How are the PRR Final Recommendations structured?
The PRR Final Recommendation are structured as:
• Market journey of Open Market Placement
• Assembly of the CDR
• Submitting data into the CDR
• Gateway responses
• Retrieving the CDR