Insurance Services
- Increasing efficiency and effectiveness
- Target operating models and roadmaps
- Start-ups & service companies
- Merger & acquisition support
- Solvency II
- System selection
- System implementation
- Interim management
- Project management
When undertaking a system selection we never start with a “blank sheet of paper”. Inviting the business community to workshop a blue-sky vision of a technology solution is wasteful as the majority of requirements are common across the market, time-consuming as the business has to apply substantial effort, as well as building false expectations around the capability of the final product.
We find it much more effective to re-use the results of previous selections as the baseline requirement, validate these with the business (as opposed to defining them from the ground up) and then focus the business community on defining the functions and features that will provide competitive advantage, result in a real bottom-line efficiency or some other unique requirement.
We are familiar with the majority of vendors and have selected systems for:
End to end policy administration systems such as Subscribe/IPF3 from Room, Open+ from Intech, N-Dex from Northdoor, Eclipse from SBS and many others
Process specific tools such as:
- Duck Creek and Decision Research Corp for rating and risk administration
- Fineos and Guidewire for claims administration
- Singularity and KCenter for process management and workflow
- Aggregate management systems such as OpenXposure from Intech and EXACT from Room
- Outwards reinsurance administration tools such as ProCede, XLRAS, Elgar and XLPro
- Technology to support Service Companies ranging from simple risk administration and technical accounting through to full blown policy systems
We have experience not only selecting these systems but our teams have used the systems and can articulate real user experiences, vendor support capabilities and other elements that are difficult to define in a requirements-based assessment.
Related case studies
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Aggregation and Loss Modelling system
Monitoring aggregates and exposures over a variety of classes
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Full policy administration system (Lloyd’s and Company focus)
Selection of an end-to-end policy administration system for this global insurer / reinsurer
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Proving the case for a new system
Business case and feasibility study to support the investment in a new underwriting system
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Full policy administration system (Lloyd’s focus)
Selecting a system for this mid-sized multi-line Lloyd’s carrier
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Full policy administration system (US focus)
Selecting a full policy system for this US-based Admitted Carrier and MGA
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