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 B PAO Standard including all 19 resource OpenAPI definitions and PAO specific orchestration material available here.
  • Working group meeting held at the end of May where a walkthrough of Draft B content was given.
  • Industry participants requested to review draft Standards material and provide comments.
  • Access to Draft A PAO Standard has been removed and license agreement required for Draft B.
  • Press and social media articles published.

Future milestones - June

  • Hold 1-1 meetings with working group members as required.
  • Assess any industry feedback.
  • Further industry comms/articles.

The working group is scheduled to meet in the middle of July 2025.

Occupation Codes List Implementation Group

Supporting industry adoption of the revised occupation codes standard used in quotations and new business processes. 

Progress

At the Implementation Group meeting on 22 May the final two providers confirmed that they had now implemented. The portals confirmed that their implementation dates will take place after the last provider implements. 

Future Milestones - June:

  • Implementation Group meeting to be held on 26 June to review progress of portal 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 appears appetite to progress activity.

Future Milestones - June:

  • Assess demand with the PSG and the Criterion Protection Policy Retention Working Group.

BAU Change Requests 

Ongoing activity in relation to maintenance of current standards via change management process.

Progress

  • The CR solutions for standards impacted by abolishment of Lifetime Allowance have been published. New versions of the standards have not been created at this time.
  • At their May meeting, PSG agreed to commence the project covering the various CRs relating to the QNB Annuities Standard after the Non-quote Annuity Application Data Research has progressed.
  • Initial analysis of CR1727 to Remuneration Statement.
  • Document solution for CR1727 to Remuneration Statement.
  • Commence initial activity on Quotes New Business Annuity CRs – within the context of PSG direction to await further progress on Non-quote Annuity Application Data Research activity.

Future milestones - June:

  • Document solution for CR1727 to Remuneration Statement.
  • Commence initial activity on Quotes New Business Annuity CRs – within the context of PSG direction to await further progress on Non-quote Annuity Application Data Research activity.