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Lloyds and London Insurance Market solutions

​​​​​​​​​​​​​​​​​​​​​​​​Increasing visibility and efficiency of case management

Core’s Insurance solution provides an extension to existing systems using workflows to combine data from multiple systems in a single specifically designed interface. Screens are intuitive, user friendly and accessible, allowing business to extract the best from their existing platforms. ​The solution utilises a robust K2 workflow engine, incorporating design tools that cut complexity, as well as reusable components and timesaving features.

Responding to the London Market Challenges

For the last 300 years the London Insurance market has enjoyed an enviable position, employing 48,000 people and bringing in 21% of “The City’s” GDP. But the market is changing. Competition is coming from emerging markets and the London marketing needs to focus on creating efficiencies in the way it utilises its traditional IT infrastructure and processes.

The product itself is so much better, so much quicker, and so much easier to use than previously.
Tim Edwards, Head of BI & Development, Talbot Underwriting


 

Visibility and speed of information retrieval is critical to staying competitive

In many organisations data often resides in multiple systems, formats and applications, leading to ineffective and inefficient working, resulting in direct costs to the business. Our clients are recognising that visibility, speed of information retrieval, single case view, with personalised dashboards is vital to a streamlined cost effective business.


 Five London Market challenges

  • Clients moving to local marketsopen/close
    There is an increasing focus on utilising local markets to reduce cost and accessibility. One of the ways to bring down cost is to deliver a more robust and efficient case management system resulting in the cost of claim management.
  • Increasing competition from emerging markets open/close
    London has historically been seen at the undisputed global hub for commercial insurance but hubs such as Singapore and Bermuda are actively challenging this attracting new clients and investment
  • Increased regulation translating to increased costsopen/close
    The burden of regulation and the cost that it carriers may result in the inability to offer bespoke packages at a competitive price
  • London’s expertise comes at a price open/close
    London acquisition and retention costs are significantly higher than other hubs, leading to a price disadvantage for more price sensitive risks
  • Over dependence on traditional systemsopen/close
    Historic systems utilised by the market do not offer customisable workflows or systems resulting in inefficient process management

 Testimonials

The product itself is so much better, so much quicker, and so much easier to use than previously
We had a really good, down to earth relationship with a few of the guys, and they know what they are doing
We felt that the deployment of images to end-user machines was not necessarily as fast as it could be. We understood that we could make better use of the system if we had the right expertise