Role:

A senior read shepley executive was the programme director leading an underwriting transformation programme focused on the insurer’s mid-market construction insurance portfolio. Responsible for identifying the cause of the portfolio’s unprofitability, assessing the risk and designing and implementing a dedicated business unit based in one regional location that brought the portfolio under a single, dedicated leadership, sales, underwriting and risk management focus across the UK.

Problem definition:

A lack of profitability and focus on the largest mid-market construction insurance portfolio of this insurer. The problems were caused by the post-merger fragmentation of specialists, underwriting and risk management approaches, operational process and related IT.

Outcomes:

Designed and developed a separate construction business unit which created one central, dedicated specialist team. This simply approach, improved the broker experience considerably, making new business and retention negotiations much easier and quicker. Underwriting and risk management processes became consistent based on relevant risk criteria and operational processes and systems were aligned.

The construction unit soon became the top of the provincial brokers ‘go to’ list and with focused underwriting and risk management in place, the construction portfolio quickly returned to profit and became a sustainable and fast-growing P&L account.