Standards projects
Platform Account Opening
A standards development project to develop a Platform Account Opening (PAO) Standard with a focused data content that will reduce the level of inconsistency experienced under the current FIT-based approach.
Progress
- Draft A PAO Standard including all 19 resource OpenAPI definitions available.
- Work on refinement of Draft A PAO Standard including orchestration material continues.
- Feedback from working group emphasised as important during standards development, and industry participants requested to review draft standards material and provide comments.
- The working group met at the end of March.
Future milestones - April
- Continue to seek industry comments and feedback on published material.
- Continue with development of Draft B PAO Standard, including refinement of resources and orchestration material.
- Further 1-1 meetings with working group members as required.
The working group is scheduled to meet at the end of April 2025.
Occupation Codes List
Implementation Group
Supporting industry adoption of the revised occupation codes standard used in quotations and new business processes.
Progress
Two implementation group meetings were held in March as we approached the target date for providers to implement the combined list. At the meeting on 20 March one provider confirmed that they would not be ready in March and were targeting a 31 May implementation whilst two others remain on amber status. The portals confirmed that their implementation dates will take place after the last provider implements.
Future Milestones - April:
- Monthly RAG status questionnaire to be issued.
- Implementation Group meeting to be held on 08 April to review March implementations.
Group Risk Quotes and Placement
Develop standards for Group Risk Quotes (GRQ); similar Re-Pricing and Rate Review processes; and Placement.
Project activity is on hold until industry demand emerges.
Protection Policy Retention
Develop standards supporting communication to advisers and other distributors of events in relation to protection policies that might put at risk continuing cover.
Project activity is on hold until adviser demand is fully understood and a clear steer on technical delivery is available. Criterion has written to the working group members to gauge demand for the continuation of this development.
There is an ongoing conversation with the Protection Distributors Group where there is potential appetite to progress this project.
Future Milestones - April:
- Progress discussions with the Protection Distributors Group.
BAU Change Requests
Ongoing activity in relation to maintenance of current standards via change management process.
Progress
- PSG feedback was received which indicated appetite for a project to be initiated to progress with the various CRs relating to the QNB Annuities Standard.
Future milestones - April:
- Criterion to create Terms of Reference for project to progress with CR activity on Quotes New Business Annuities and share with proposer and seconder.
- Continue with documentation of solution for lifetime allowance abolishment changes on impacted standards.
