Important System Progress Update – February 2023

We remain on-track to go live with the new Flood Re Bordereaux Management System (BMS) on 3^rd April 2023.
  
This update includes information to help make your transition to the new technology as seamless as possible.
 
Training and important reminders
 
We are going live with our new BMS on 3^rd April. You will use the new BMS to validate and submit your monthly bordereaux files. All participants have been invited to open training sessions to introduce the Flood Re Team who will be helping you through the transition. You can attend as many as you need. These sessions will provide key information for how to use the new BMS, and give you a chance to ask questions. Two sessions have now occurred with further sessions planned on 1^st and 8^th March.  For those who have not yet signed up for a session, email support@floodre.co.uk to book your slot.
 
“How to” training materials will be made available before April, covering common tasks performed in the new BMS. This will include short videos to grow your familiarity with the new BMS.
 
There will also be opportunity for individual participant meetings if more focused discussions are required. Contact support@floodre.co.uk if you’d like to schedule.
 
In terms of use, the new BMS is similar to the existing platform, but there are some important differences to be aware of. If you use an automated process to upload bordereaux files between your internal systems and the current Flood Re portal for bordereaux submission, these should be changed to point to the new BMS site for bordereaux submission from 1^st April.
 
Transition support will continue after go-live. If you have any questions, contact Gary, Chen or Alex at support@floodre.co.uk.
 
Access to the new Flood Re BMS
 
You can test your access to the new BMS now by clicking on this link Flood Re – Production (watertrace.com) 
 
If you cannot access the site, your corporate security controls may be blocking you. If you have issues, please contact your IT Support Team, asking them to check watertrace.com is a white-listed domain.
 
The new BMS will block access from unknown locations. If you are working remotely (not from your corporate office) you will likely have to connect to your corporate remote desktop protocol (RDP) or virtual private network (VPN) to access the new Portal. If you have issues, please contact your IT Support Team. They can contact support@floodre.co.uk with the IP address domains your company’s users will connect from so these can be added to our ‘approved’ list.
 
To improve security, we are introducing Multi-Factor Authentication for the new BMS using an established third-party application. This app will provide a security code which must be used together with your new Portal username and password to access the new BMS. The app will need to be installed on the smartphone of each person that will access the new BMS, and can be easily downloaded from the Apple Store or Google Play. We will provide further details before we activate this service. This process will eliminate the manual annual certificates that we currently require from your IT departments. 
 
Flood Re will proactively contact each participant’s lead contact in the next few weeks to confirm access to the new BMS site.
 
OTE Environment
In the new solution there will be no access to an OTE environment for testing or training. Bordereaux files can still be validated before submission. If you are an MGA or Broker who currently use the Flood Re – Landmark Portal’s OTE environment to validate bordereaux prior to direct submission to your carrier/capacity provider, please email support@floodre.co.uk for the process to follow. An environment for testing and training is in the new BMS’s Day 2 pipeline. 
 
Bordereaux Data Formats
As part of the migration to the new system we are uncovering some issues with bordereaux files that may impact your ability to submit. We will be in touch directly if this impacts you.  
 
Property Address Data Quality
 
From April, the new BMS will use the Property Data Hub (PDH) powered by Addresscloud to verify residential addresses in all bordereaux submissions. You are already using this PDH (which went live last year) to check individual addresses, download quarterly address files and / or link via API.
 
In April, May and June, we will use a version of the address file which is very similar to the one currently used, but features data enhancements. It is possible you may need to make some address changes from April. We will advise you of any required changes before April, to give you an opportunity to correct address data in your April submissions.
 
The address file will be updated more substantially at the end of June. We will proactively advise you of potential changes that may affect the address data in your submissions, before June. 
 
Key dates
 

• Open sessions are available to book on 1^st and 8^th March.  More can be provided if there is demand.
• To support timely migration of data to the new BMS, all bordereaux submissions should occur before 24^th March. If this is not be possible, please contact support@floodre.co.uk to let us know. The Flood Re Team will monitor submissions during March and reach out proactively in the case of outstanding submissions.
• The current Flood Re Portal will no longer be available from noon on 31^st March. If you require historic data through the current Flood Re Portal’s reporting suite please download all required information before the Portal goes down at noon on 31^st March.
• The new BMS goes live 3^rd April.

Other guidance

Timely submissions
Please submit your risk (underwriting) and claims bordereaux on a monthly basis, even if it is a nil return.

If you have gone live with the Build Back Better initiative, please submit your BBB enhanced files at the same time as your submission via the current Flood Re Portal. This will derisk your ability to migrate to the new BMS on 3^rd April.

Historic Reporting
As noted above, the current Flood Re Portal will not be available from noon 31^st March. We will have equivalent historic data in the new BMS, but if there are particular reports you require for your own records e.g. copies of bordereaux you have previously submitted, for reconciliation or audit purposes, please download before the system goes down at noon on 31^st March. You will not be able to retrieve previously submitted bordereaux files or produce reports from the current Flood Re Portal after this date.

Reminder on Flood Re’s Premiums
As previously communicated in 2022, Flood Re is changing the premiums insurers incur when ceding a policy to Flood Re. From April 2023, the premium charged by Flood Re for polices ceded to the Scheme will rise by 3.4%. The effective date of changes to the premiums remains 1^st April 2023. The new premiums will be available on both Flood Re’s website and the Property Data Hub portal. If you require additional information for your related system changes, please contact us.

The Flood Re Support team is here to help. Contact support@floodre.co.uk with any questions, or if you require support.