Altus Cost Analytics & Benchmarking Service
Altus, working in conjunction with London Market specialists CognitiveRisk, provides a Cost Analytics and Benchmarking Service to help Lloyd's Managing Agencies and London Market Carriers understand their cost base and signpost the best operational approaches and capabilities to deliver an optimum performance within their business.
The Current Situation
Operating and administrative expenses are under ever closer scrutiny, evidenced by Lloyd’s thematic review of administrative expenses in 2019, triggered by overall expenses in 2018 averaging in excess of 40% and administrative expenses (within Lloyd’s Syndicates) at over 14% the need to better understand and optimise is never more applicable.
Ever wondered what your industry peers are doing…?
Using a combination of the Altus London Market Capability Framework, which has over 1000 capabilities, and detailed analysis of the annual returns for each Syndicate since 2017, Altus are able to compare your key KPI’s and your cost base to your peers by taking core business metrics and applying them to key capabilities.
Our consultants are experienced insurance professionals, packed with industry knowledge and skilled at working with clients in a collaborative manner to deliver maximum benefit.
If you are interested in having a chat about how you can deliver the benefits associated with our Cost Analytics and Benchmarking Service please do get in touch with Stephen Whitfield.
For a detailed overview of our service offering click the download button.
Altus are delighted to be working with Cognitive Risk on this initiative for the Lloyd’s and London Market. With the market looking to modernise, it’s natural that operational costs are coming under increased scrutiny. The combination of Altus’ engineered cost modelling methodology with the market experience Cognitive Risk have, we are looking forward to offering stakeholders in the London Market with some opportunities to transform their business.
Mark Andrews, Altus Director - Insurance
As agents of change focused on the Lloyd's and London Market, Cognitive Risk exists to bring smart solutions to analogue problems. Our partnership with Altus combines our respective areas of expertise helping organisations under pressure to optimise and find the opportunities to transform through this tailored capability model.
Matt Carter, Founder and CEO Cognitive Risk
