Deep-dive support -
exposure management
Case studies
We were able to provide our client a London market insurer specialising in business lines with assurance regarding the overall effectiveness of their RDS approach, and recommendations to help them address weaknesses and gapsĀ
The background
Our client is a London market insurer specialising in business lines characterised by large and infrequent losses. We provided an independent review of their realistic disaster scenario (RDS) process to assess its effectiveness.
Our solution
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We agreed clear questions to address in our review, including providing assurance that the RDS process reflected the key risks faced by the business, that it was suitably risk-responsive, and that sophistication of the methodology was proportionate to the level of risk.
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We reviewed the process documentation and the results from the most recent RDS process against the agreed assessment criteria.
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We supplemented this through a series of interviews with the exposure management / pricing team and the underwriters to gather their perspectives on the process and the key risks.
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We provided clear and concise feedback to our client on the strength of their process and actionable recommendations for further improvement.
The results
We were able to provide our client with assurance regarding the overall effectiveness of their RDS approach, and recommendations to help them address weaknesses and gaps.
LCP InsurSight is an analytics and automated trend identification tool for general insurance companies.
We work with insurers to help them better understand and manage the risks they face and their capital requirements.
We help our insurance clients to develop strong links between their strategy, capital management and risk management processes, improving their chances of business success.
Our business-focused approach to validation can help you be confident that your insurance models are robust, and that you are meeting regulatory requirements.