Chorus delivery postponed to ensure product delivers
The current estimate is that the revised launch date for Chorus to replace the Atlas and BAR systems will be in early 2020 - avoiding the peak renewal period for the market and enabling a safe transition.
As part of the playback and testing of Chorus, we have identified some gaps in our technology partner’s product. This will require further development of the core functionality of the platform to deliver the service and security that the market needs. The requirements focus on ensuring the confidentiality of relationships is maintained within the platform and, given the essential nature of the requirements, additional time will be required to fill those gaps.
The additional development work will be carried out in parallel to the functional and technical content that are unrelated to the gaps identified. Market Acceptance Testing (MAT) will continue as functionality is built, with final MAT being undertaken in good time prior to the go live launch.
We are working with our technology partner to ratify a revised detailed delivery plan, and the current estimate is for a revised launch date in early 2020.
The delay, while regrettable, will provide additional time for the market to prepare and plan for the implementation of Chorus. Benefits are expected to include:
- The provision of a test ‘sandpit’ environment for market firms, including contract builder, to allow familiarisation of Chorus ahead of the live launch
- Giving market firms more time for data to be updated in Atlas and BAR to ensure quality data is transferred to Chorus, and providing more time for data migration testing
- Avoiding a launch during the peak renewal period
- Providing more time for testing Chorus functionality
- Ensuring a robust and extended period of training for market firms and coverholders
- Giving more time to help market firms build data extracts and interfaces with Chorus APIs to support the efficient reuse and transfer of data.
The LM TOM will work with Lloyd’s, our technology partner and the market associations to confirm a more detailed timeline and we remain committed to launching Chorus only when it delivers what the market needs and we can ensure a smooth transition from Atlas and BAR.