Insurers and managing agents need a clear and documented delegated underwriting strategy. They need clear governance practices and procedures to implement and oversee that. Do they have the correct resources in the right places to do this effectively?
JTW can help, be it building an oversight strategy from scratch or implementing necessary changes to an existing one.
“When dealing with so much change in a short time period it is critical to keep key stakeholders engaged and understanding the need for change – Julian managed to do this in a thoroughly professional manner and played a key role in embedding the new framework across the business. He was able to combine his excellent knowledge of regulatory compliance and conduct risk in the delegated underwriting marketplace with his skill for building relationships across the business and critically with the underwriting community and coverholders”.
James Lewis, Head of Underwriting Management, MS Amlin
Businesses involved in expansions, integrations and operational changes often require key managerial roles to be covered on an interim basis.
JTW have the breadth of experience to understand what is required, slot into a role quickly and effectively, always alert to maintaining the stakeholder relationships around them.
“Julian worked within MS Amlin’s Delegated Underwriting team at the time I worked as the Group Underwriting Performance Manager. During this period MS Amlin was undergoing a significant amount of change, both in terms of integrating two Lloyd’s syndicates following the acquisition of Amlin PLC by Mitsui Sumitomo and in terms of establishing the Target Operating Model for delegated underwriting across the business. Julian performed a number or roles over this period including offering key strategic advice and managing a team to deliver an efficient Coverholder on-boarding and oversight process.”
Helen Donegan, Group Underwriting Performance Manager, MS Amlin
Around the world, compliance regulations and expectations applicable to delegated authority are changing constantly. In the UK, for example, it is essential to ensure that fair customer outcomes (conduct risk), policy add-ons, financial promotions and renewal transparency are considered. Newer focus is upon the roles, responsibilities and value of parties in the distribution chain.
JTW can help build these requirements into your company-wide strategies, processes, procedures and most importantly of all, your cultures.
“I had the pleasure of working with Julian on strategic operational change in relation to management of delegated authority business. Our particular interactions concerned implementation of compliance requirements, principally conduct risk, in the operational model. Julian understood well the risk-based approach needed and worked effectively with me to implement this.”
James Tapson, Head of Compliance, Lloyd’s & International, MS Amlin
Operations management of course need to break down tasks that will impact several functions and require cross-departmental stakeholder liaison into definable projects. Such as a new Target Operating Model, a new service company framework, a set of new underwriting guidelines, coordinating responses to an external regulatory or internal audit review etc.
JTW have the experience to advise, implement and where required oversee these.
“Julian’s responsibilities were varied but a large part was spent on delegated authority work in the Lloyd’s space. He continuously impressed me with his rapid grasp of the issues at hand, his in-depth market knowledge and his strong skills in working with all involved, from those actually dealing with the daily activities to those at the highest strategic level.”
GeertJan Verheij – Compliance, risk management and corporate governance, MS Amlin