Extension of IFR Industry Access
Since the IFR's initial inception, the aim has always been to widen membership eligibility out to non-ABI industry participants, for the collective benefit of all contributing parties. In 2016, the IFR Steering Board therefore took the decision to extend joining eligibility out to members of Lloyds, as a logical first step in widening out industry access.
A varied version of the IFR User Agreement comes into effect on 11th December 2017, which allows underwriting members of Lloyds of London to also sign up to the IFR on equivalent terms to members of the ABI. A program of outreach to members of Lloyds is currently underway, with a view to signing up a number of early adopters over the course of 2018.
With the aforementioned strategic aim in mind, the IFB has now also agreed a separate Approved Third Party (ATP) Agreement in order to facilitate IFR access for the nominated organisations referenced in the IFR User Agreement, namely the Motor Insurers' Bureau (MIB) and the National Fraud Intelligence Bureau (NFIB). The new ATP IFR User Agreement similarly comes into effect on 11th December 2017, in line with the varied version of the IFR User Agreement.
IFR member insurers have to date universally recognised these steps as positive strategic developments in the evolution of the IFR service, and important means of further enriching the collective data pool.