As much as 40% of the London Insurance market is operated through Delegated Authority channels, circa $63 bn of GWP.
With such a significant portion of the market at stake, it’s no wonder that many firms are strategically focusing on their DA portfolios. But what sets the market leaders apart from those who struggle under the deluge of spreadsheets and poor data? Firms that are making the most of the growth in this market combine innovation with automation, ensuring technology is at the heart of the operation and data is managed effectively.
At Altus, we understand the intricacies of the DA market and the importance of a well-optimised value chain. We’ve supported numerous organisations looking to understand the pathway to market leadership using our models to provide detailed analysis and visual representation.
The DA market is evolving rapidly. To stay competitive, businesses must adapt. Today, we see more demand for transformation support and services related to assessing and optimising DA portfolios as well as the capabilities that support servicing them.
Here are three ways Altus’ accelerators can make a difference to your DA business:
1. DA Maturity Assessment Toolkit
Our specially developed toolkit enables firms to assess and track the maturity of their current DA operating model. This provides a clear picture of where you stand and supports identification of improvements.
2. Process Mapping and Evolution
Using our PEAK methodology, we help firms map out the key processes involved in delivering critical DA services. This is then used to support the development of more detailed partner operating models; this activity can also form part of overall operational resilience.
3. Development of a Data Model
We assist firms in reviewing and organising their data models and standards. By creating a robust DA data model, we enable measured expansion and reduce the need for manual data manipulation.
Find out more, download our current thinking below or reach out for a discussion where we can show you how we use our model driven approach to change.
The Altus Insurance Team has a broad range of experience in brokers, insurers, MGAs and Lloyd’s in establishing, supporting and regulating DA business, speak to us to find out more.
KEY CONTACTS
- Matt Carter, Specialty Markets Director.
- Eleanor Reid, Consultant Analyst.
