Posted: 21st June 2016
Since the regulator published its views on how general insurance (GI) firms are failing to effectively oversight their delegated authorities, the issue of the effective and efficient management of outsourced arrangements has been at the top of firms’ agendas.
The aim of this white paper is to disentangle the commentary and concerns surrounding GI supply chains, with a specific focus on delegated authority. We lay out our analysis of the regulator’s actions to date, and where the industry is today.
Additionally, stemming from our own experiences in the market and our direct work with firms, we have produced a practical model for firms to consider implementing in their business to enhance their approach to both delegated authority and appointed representative (AR) oversight.
Our model maps out the range of risks and responsibilities involved, and provides assurance to senior management that conduct risk has been minimised through due diligence and a robust governance model.
In the highly competitive and increasingly regulated insurance marketplace, we hope that our paper proves a compelling and useful read and contributes to your firm’s approach in this critical area.
DOWNLOAD THE WHITE PAPER
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