Barbican Insurance Group
- Intrali – Bordereaux Management
- Active Reports – Data management and reporting
Barbican Insurance Group first established their own Managing Agency at Lloyd’s in January 2011, and have grown their business to over 200 staff and a Lloyd’s stamp capacity of £290m for the 2016 year of account. They have grown their business by providing intelligent, responsive risk solutions and products worldwide across a broad range of insurance and reinsurance classes.
As a consequence of the introduction of Lloyd’s Minimum Standards and enhanced Solvency II reporting, Barbican revised their procedures to further improve bordereaux analysis and management capability. The Barbican and VIPR teams worked together to enhance the benefits offered by Intrali to further improve internal control capability and produce focused MI and analysis using Active Reports.
Barbican chose to work with VIPR using the Intrali and Active Reports products to maximize the data coming out of their current bordereaux management process. The implementation phase was a collaborative effort by both teams, discussing best practices and identifying efficient solutions. Furthermore, VIPR’s standard Active Reports dashboard provided Barbican with quick, effective bordereaux management statistics.
Intrali was re-implemented and configured to meet the revised formats and ensure Barbican were capturing as much data from their bordereaux as possible. Intrali was set to validate, cleanse and standardise bordereaux in line with Lloyd’s Minimum Standards and Solvency II requirements.
Once Intrali had been re-configured, Active Reports was installed to allow Barbican to report on all their cleansed data. It was important for Barbican to quickly provide bordereaux statistic reports to the business to showcase the revised bordereaux management solution. With VIPR’s standard dashboard, it was a simple process to configure the reports and get buy in from the business.
With the VIPR solution, Barbican Insurance Group can be certain they have an efficient bordereaux management process, which can be used to create their regulatory reports.
“We were looking for a team that we could work closely with us to deliver solutions to some challenging issues around standardisation of bordereaux to allow us to meet the Lloyd’s minimum standards and Solvency II reporting. We found that VIPR were very responsive at all levels & worked effectively with the Barbican team to deliver the results we were looking for. It was a first-class effort all round. We look forward to working with VIPR on future projects of this nature”.
Mark Posner, Change Programme Director at Barbican Insurance Group
“We were delighted to work with Barbican to address some very specific reporting issues including Solvency II reporting. This was a collaborative exercise with both teams working hand in hand to achieve the solution required. We believe that the capability Barbican now have for a number of difficult reports, and for first class bordereaux management and validation, places them at the forefront of many of their peers.”
Bob Brown, CEO at VIPR