An established EU Insurer needed to establish a UK operation as part of its Brexit contingency planning to allow continued access to its existing book of business.

We initially provided a roadmap for the client to understand the potential options, transition arrangements and steps available to them during the immediate and longer term timescales within the context of the changing regulatory landscape.

Once completed, a detailed gap analysis of their current operations was undertaken to enable them to prepare for the short and long term operations in the UK post Brexit. Working with them we were able to turn this into a delivery plan and support the implementation of changes required for the immediate post Brexit period.

Continuing support has been provided for the longer term permanent establishment of a UK operations including developing the regulatory business plan and application.

Athito deployed an experienced team with deep knowledge of undertaking UK insurer regulatory applications enabling the client to understand the specific UK requirements and deliver a more timely application and operating model.

As a result of Brexit, a UK based Insuretech MGA needed to establish an EU operation to ensure continued access to its current EEA book of business and provide a platform for future growth in the EEA region.

We worked with the client to define and establish their proposed EU operating model. This included proposing the operating structure for the selected EU location in Ireland, group-sourcing arrangements and interfaces with existing group structures.

We drafted the regulatory application, financials, supporting documentation and policies to ensure a successful application and implementation.

We deployed an experienced team member with a background in both regulatory applications and MGAs which enabled the client to meet short timescales.

All our projects require managing complex interactions, detailed planning, it is a core skill in our business

We have dedicated project managers, all of them with an insurance background. We are firm believers that Gantt charts and action lists don’t deliver projects, talented teams with deep industry knowledge and the ability to develop momentum and engage across a broad spectrum of seniority and roles deliver results.

Our teams have change management skills in their DNA and we have delivered numerous projects since 2003, testament to our skills and expertise.

For this new managing agent we were required to develop a new risk management framework to support the business through its early stages of independent management.

Our team consisting of an interim Chief Risk Officer and Risk Analyst we developed the entire risk management function from the ground up. Using our proven frameworks we developed the entire risk function, embedding risk management reporting; defined risk appetites and management protocols.

With a proven approach developed from a number of previous engagements we quickly provided the client with Solvency II compliant frameworks that enabled us to build out the function to a standard that exceeds Lloyd’s Minimum Standards whilst being efficient and effective

This managing agent had acquired a number of branches and offices in the UK and overseas through acquisition and organic growth, after several years of expansion there was a need for a holistic review to ensure alignment with the parent.

Reviewing the business’ operations from a tax, operations, staffing and working practices perspective several model options were defined charting the evolution of the business in the future with key metrics that would trigger planning to commence to implement the next stage in evolution.

By developing a model that consider the needs of the business to scale over the next 3 years an operating model could be designed with three stages of growth considered, budgeted and planned in advance to enable the business to deliver its immediate premium targets but also for operations to grow in tandem with the business as it scaled up to meet future processing needs efficiently.

For this new entrant to Lloyd’s reviewing the market landscape and providing substantial background and analysis

We have worked with all the Lloyd’s turnkey providers and third party syndicate managers and know their operations and working practices intimately. We developed a market overview and enabled the client to quickly decide on their preferred partners where detailed due diligence and costing could be developed

We have a unique insight to the turnkey markets as we have worked with all the providers, this hands on knowledge gives us the ability to be detailed and accurate in our analysis and assessments as well as being able to add additional insight and colour

System selection for a Lloyd’s managing agent

By using previously developed requirements and the Athito team’s market knowledge we shortcut the requirements gathering process and swiftly moved to Request For Information (RFI) and Request For Proposal (RFP) with a number of qualified vendors.

Our approach enabled the user community to clearly focus on their core requirements whilst still producing a holistic assessment of the solution

A traditional approach to vendor selections typically includes work-shopping requirements with the business community on whiteboards in all-day sessions, to develop a long and detailed wish-list and requirements catalogue. Unfortunately this “blank sheet of paper” approach encourages unwanted behaviours, including:

• The user community, anxious to not be caught out by missing something obvious, spends much time describing basic functionality of systems (e.g. ”ability to add an insured”). Whilst it is important to ensure this basic functionality exists within the system it is wasteful to have the user community articulate it during workshops.
• The “blank sheet of paper” builds expectations around a system’s capability. This often leads to disappointment later in the implementation and disenfranchisement of the business that can see the sessions as a wasted effort as their most important requirements have been lost or reduced in priority.
• These workshops are resource hungry from both an internal “lost opportunity cost” as well as the day-rate consultancy costs required to prepare for, facilitate, write up and validate back the output.

Our approach shortcuts documenting the “basic” functionality and instead focuses on the differentiators and unique values of the organisation enabling a more precise and targeted requirements catalogue to be defined. A smaller requirements catalogue also enables the business community to focus on what’s important.

Defining the optimum model for a managing agent with several overseas branches and service companies

Reviewing the business’ operations from a tax, operations, staffing and working practices perspective several model options were defined charting the evolution of the business in the future with key metrics that would trigger planning to commence to implement the next stage in evolution.

By developing a model that consider the needs of the business to scale over the next 3 years an operating model could be designed with three stages of growth considered, budgeted and planned in advance to enable the business to deliver its immediate premium targets but also for operations to grow in tandem with the business as it scaled up to meet future processing needs efficiently.

To design and run the underwriting management function of this Lloyd’s managing agency

Deploying an experienced underwriting manager to define the working practices, procedures and policies for:

• Underwriting controls
• Exposure management
• Claims
• Reinsurance purchase
• Business planning
• Peer and independent review
• Delegated underwriting

Detailed procedural documentation was developed exceeding the requirements of Lloyd’s Minimum Standards; in tandem a full suite of management and exception reporting was developed and implemented to monitor performance and adherence to standards.

By fielding an experienced underwriting manager with several years’ experience to define the new environment for the client reduced the elapsed time to bring about significant change in the department. In addition, with a close relationship with members of Lloyd’s performance management team the new platform was introduced with engagement and support from Lloyd’s

Service companies had become established and developed their processes organically without consistency. The project was to introduce a singular approach to processing business across all service companies ensuring efficient and effective working practices were introduced

By using a structured approach based on the European Foundation for Quality Management we were able to quickly uncover numerous issues.

Our experienced team were quickly able to identify areas for improvement but could also build the case for retaining some specific local processing requirements and unique working practices.

This ensured that business could be conducted in a fashion compliant with local requirements and still meet the needs for efficiency required by head office.

Our experienced team were able to understand the importance of local working practices and ensure stability and compliance. By deploying an experienced team we quickly identified numerous areas for improvement and could define an implementation approach with minimal disruption to business as usual activities.

To support a business requirement to deliver regulatory and management reporting; data dictionary; data lineage and interfacing to other downstream systems

With substantial experience implementing and running data warehouse solutions, whether in-house builds or vendor packages we brought deep practitioner level knowledge to the selection.

We defined a requirements set that covered not just warehouse functionality but numerous supporting functions such as data mapping; business plan loads; Syndicate Business Forecast (SBF) outputs; incorporating Reserving Data and IBNR as well as the definition of the Lloyd’s reporting requirements.

We were also able to define the required set of exception reports and business rules for data loads and daily checks to ensure the preferred solution was fit for purpose.

Our practitioner level knowledge enabled a requirements set to be developed quickly and efficiently and also to ensure that there were no gaps in functionality or misunderstood expectations.

A challenging new start-up establishing the first simultaneous managing agency and syndicate since 2009. Athito were tasked with the design, build and regulatory approval of the two businesses

We deployed a large team of interim managers covering areas including Underwriting Management, Risk, Delegated Underwriting, Lloyd’s Service Companies, Governance, Solvency II and Actuarial.

Working with dedicated resources developing the different regulatory business plans for Lloyd’s, PRA and FCA the application to the various regulators was submitted.

In parallel we deployed a team of business analysts to select and implement numerous systems, data warehouse and build all downstream regulatory and management reporting.

Our team managed the interactions with the regulators and professional services such as legal as well as all internal teams and stakeholders. The Athito team project managed the end-to-end programme of work, delivered on time and under budget.

Athito deployed an experienced team with very little lead time to enable Charles Taylor and The Standard Club to meet aggressive timelines. We reduced the risk associated with the application by deploying known approaches and models for governance, organisational structures, systems and all other key aspects of the build out. Bringing proven tools reduced the lead time for approval, as well as reducing cost.