General, Specialty and London Market Insurance
Providing the world’s largest insurers with a disruptive approach to execute regulatory changes and streamline and digitalise their operating models.
The scale and scope of the Ukraine war’s impacts highlight the important role that must be played by the global insurance industry. Insurance provides protection when the worst happens and preparation for the risks lying ahead.
Changing customer requirements and behaviours, macroeconomics, rising inflation, interest rates, looming threats of recession, technology-driven disruptions, increasing cost, competitive pressure, and new regulatory mandates are pressurising insurers to re-invent their business and operating models in terms of new product development, policy administration, underwriting, claims management and regulatory pressure.
New channels to market are creating big opportunities but also increasing risks for insurers and their ecosystems. Simultaneously, evolving regulatory requirements are forcing insurers to re-invent their operating models and key processes in areas such as Finance, Operations, Data, Accounting Risk Management and Compliance.
Today, confronted with uncertainty and challenges, insurers face the danger of acting with yesterday’s logic and consequent irremediable failures.
At ecosysBiz, we can help. Our professionals help to create innovative and disruptive technology solutions for Finance, Operations, Compliance, Actuarial and Risk Management.
Our diverse and experienced professionals are formed of insurance industry leaders, strategists, business analysts, SMEs, operations specialists, data scientists, project managers, business architects, solutions architects, enterprise architects, and operating models experts.
Also, our multi-disciplinary insurance professionals combine a deep industry experience and technical expertise with innovative partnerships, technologies and data solutions to help organisations manage the pace of change, turn uncertainties into growth opportunities and create a more certain and sustainable future for their clients.
General, Specialty and London Market Insurance
Changing customer requirements and behaviours, technology-driven disruptions, consolidation, intense cost, competitive pressure, and profound regulatory change are forcing insurers to rethink their business and operating models in terms of new product development, policy administration, underwriting, claims management and regulatory pressure.
London Market Insurance
For years we have supported all players within the London Market ecosystem.
At ecosysbiz, we specialise in the London Market’s operating models and their ecosystem.
The London Market Group is the largest market-wide organisation for commercial and specialty risk and encompasses the specialist commercial (re) insurance broking and underwriting organisations.
The London Market is supported by three main organisations:
- The IUA -International Underwriting Association
- The LMA- The Lloyd’s Market Association
- The LIIBA – London & International Insurance Brokers’ Association.
For decades, our consultants have been offering our services to all the players within the London Market ecosystem including managing general agents (MGAs), Underwriting Agencies, Syndicates, Insurance Carriers, Brokers, Reinsurance.
General & Specialty Insurance
Our specialist teams offer innovative services for general and specialty industries that provide financial protection for both individual and businesses. We have expertise and specialisation in all types of business and technology solutions that successfully support all financial lines and products including Financial Lines, Marine, Cyber, Professional Indemnity, Accident & Health, Directors and Officers, Cargo, FI, Fine Art and Species, Marine, Energy, Aviation, Political Risk, Credit and Bond, Surety, Professional Indemnity, Commercial Crime, Casualty, Financial Services, Property, Reinsurance, M&A insurance, Liability, Private Client and much more.
We combine our deep experience and understanding of the insurance industry with the data, operating models and technology landscape to pursue the right approaches for tackling data and analytics, automation, the customer’s journey and experience, digital transformation and platformification, business analysis, strategy, and transformation.
Our diverse and experienced resources are formed of insurance industry leaders, strategists, business analysts, SMEs, visionaries, chief underwriting officers, underwriters, product managers and operations professionals, technologists, data scientists, project managers, business architects, solutions architects, enterprise architects, and operating models experts.
Our support includes:
- Strategy design and delivery.
- Product and proposition innovation. We have developed a product development methodology or approach that helps you to define existing and new products that enable your business grow. We help you to develop products and propositions with face into new and emerging markets demand and integrate third parties and InsurTech in a frictionless manner.
- Target Operating Model Transformation.
- Cost reduction and revenue generation strategies.
- Geographical expansion or new ventures.
- Technology Transformation and Digitalisation.
- Customer-centric approach.Definition of the end-to-end journeys, touch points, pain points and requirements, mapped out to ops models that deliver excellent customer experience.
- Complex Operating Models including M&A.
- Clients onboarding, due diligence, KYC, financial crime, AML, compliance, the three lines of defence, risk & control model, and regulatory implementation.
London Market & Specialty Insurance
Operating Model Maturity Model [OMMM]
Policy Administration System Implementation
Our approach helps London Market & Specialty insurers to avoid market pressures, drive greatest value and realise strategic advantage.
Product & Proposition Innovation
Our innovative product development methodology helps London Market & Specialty insurers to manage & create innovative products that guarantee growth.
Our extensive tech and data expertise helps London Market & Specialty insurers to develop advanced tech and data capabilities to create seamless, digital-first experience. Al, Data Science and Analytics.
We drive continuous focus on simplification and automation across the value chain in order to minimise claims and operating costs.
FCC, AML, CDD, Compliance and Regulator Change
We develop innovative solutions to implement regulatory requirements. We’ve also implemented strategic solutions across clients’ onboarding function, due diligence, FCC/AML and compliance.
Our approach enables underwriting function to become more effective, more creative, productive and more consistently profitable.
Our cutting-edge finance transformation method enables insurers to stay on top of industry trends, deliver cost-reduction opportunities, benefits realisation and value creation and enables growth.
We help London Market & Specialty insurers to develop sophisticated and unique IT capabilities that can offer an obvious advantage in terms of agility, growth, and cost ratios.
Technology & Digital Transformation
We help London Market and specialty insurance clients to revamp their business capabilities and operating models with top-of the-class insurance technology solutions that enable their business to grow. We help them to create a powerful digital operating model ecosystem across multiple geographies and partnerships. We offer AI-based risk analysis to drive growth and profitability.
We help reinsurers to transform themselves to address new risks and unlock value. Our specialised reinsurance industry experts can guide them through the transformation process. We help reinsurers meet the challenges they face by launching new ventures, innovating their business and operating model, and implementing digital and technology transformation.
Insurance Broker Systems & Solutions
We help insurance brokers to develop innovative technology and business capabilities that seamlessly support the full cycle of their administrative systems, technology architecture, operating model and policy administration: we also capture detailed client information, track quote and administer policies, manage claims, finance and FCA regulations.