Lloyd’s of London Market Lloyd’s of London Market
Insurance

Lloyd’s of London Market

Accelerating Digital Transformation in Lloyd’s of London

A series of disruptive forces, including the demand for new services driven by innovative operating models, is bringing about rapid changes in the Lloyd’s of London Market. Lloyd’s companies are under pressure to develop new products and broader solutions while building agile operating models. There’s also the need to enforce deep cultural changes and deploy niche skills to confidently tackle emerging risks and technology-led disruptions.

WNS’ deep domain knowledge and proven digital transformation capabilities effectively enable businesses operating in the Lloyd’s market to adapt to the changes. We provide end-to-end support, right from underwriting through to claims. Some of the key tangible outcomes delivered include ~50 percent cost efficiency through standardization and consolidation, and additional benefits of ~25 percent through the application of Robotic Process Automation (RPA), analytics and process re-engineering.

Our solutions leverage data-to-insights capabilities, digital accelerators and hyperautomation to reduce operational costs, improve speed-to-market and ensure faster, borderless processing and settlement of claims.

 

Key Accelerator

WNS InVog: Insurance-in-a-Box Solution

An industry-first Insurance-in-a-Box offering, WNS InVog is a unique ‘Platform + Business Process Management (BPM)-as-a-Service’ target operating model. It leverages dynamic digital platforms enveloped in an agile ecosystem to set up (re)insurance operations from the ground up. Designed to deliver sustainable competitive advantage with radically shorter go-to-market time, this modular solution supports core insurance operations while delivering Finance & Accounting (F&A), Human Resources (HR), and analytics and technology services.

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The Digital Conundrum for Lloyd’s of London

 

Digital-first Services

WNS’ services for the Lloyd’s market integrate our deep domain knowledge and process excellence with digital accelerators, hyperautomation and data-to-insights capabilities to drive innovation.

(Re)Insurer Services

  • Underwriting
  • Policy Administration
  • Claims
  • Outward Reinsurance
  • Risk & Compliance
  • Credit Control

Broker Services

  • Underwriting
  • Delegated Underwriting
  • Claims
  • Risk & Compliance
  • Insurance Broking Accounts (IBA) & Credit Control

Managing General Agent & Syndicate Services

  • Underwriting
  • Policy Administration
  • Claims
  • Credit Control
 

Actuarial Services

  • Risk Assessment
  • Pre-pricing Exercises
  • Pricing
  • Catastrophe Modeling (CAT) & Non-CAT Modeling
  • Reserving
  • Capital Modeling
  • Portfolio Monitoring
  • Assess Target Profitability
+ +

Finance & Accounting Services

  • Transactional Finance
  • Technical Accounting
  • Financial Reporting
  • Regulatory Reporting
  • Treasury
  • Financial Planning & Analysis (FP&A)
  • Investments
  • Taxation
  • International Financial Reporting Standards (IFRS)
+ +

Human Resources Services

  • Recruitment Administration
  • HR Administration
  • Payroll & Benefits Administration
  • Compensation & Rewards Administration
  • Learning & Development
  • HR Strategy
 
 

WNS Advantage

Industry Knowledge and Experience: WNS has more than 15 years of experience working with diverse portfolios in the insurance industry. Our experience spans multiple regions and all lines of business. WNS’ team of insurance professionals manage complex, end-to-end and outcome-driven processes. Our teams comprise specialized general agents, actuaries and data scientists who operate across the globe.

Hyperautomation: Digital transformation at WNS is underpinned by domain-led hyperautomation, advanced analytics and in-depth process knowledge. We drive new efficiencies, enable faster end-to-end transformation and shorter time-to-market with our digital accelerators, and insurance-in-a-box and broking-in-a-box solutions.

Robust Regulatory Know-how: Our versatile experience of working with different regulatory frameworks across the globe ensure stringent information security measures and data privacy. We manage compliance and operational risks with management frameworks, regulatory compliance and reporting, and mandatory compliance training for employees.