Summary

Design and implementation of a comprehensive operational data quality control framework across branch office and head office underwriting and claims functions for a major international insurer.

Challenge

This market leading insurer needed to respond to regulatory demands for greater controls over processes impacting data quality, but didn’t have an approach or method.

Approach

Stratiformis led a team to respond to the need for regulatory compliance with the Lloyd’s Control Framework. By identifying the current state process and control situation we mapped the regulatory demands onto the organisation to determine the scope. We created an ‘operational control framework’ that defined the control principles; this was designed to handle the diverse range of scale, structure, and business process across each of the branch offices and the head office functions. By translating these control principles into local solutions we were able to design and agree the controls. Overseeing the implementation of the controls by the local operational management.

Outcome

Following the design and implementation of the controls in each of the business units, an Internal Audit was performed to validate the design and implementation and approve the controls to the board, resulting in the client being able to attest to regulatory compliance.