Insurance
Insurers run policy administration, rating, claims and finance on systems bought at different times, and the figures a board sees are stitched together from all of them. We build the reporting, data and workflow technology that joins those systems and records how each number was produced. THEFOCUS does not provide regulated financial or investment advice, actuarial opinions, audit or legal services.
Discuss this with usMarket context
Insurers paid out £7.84 billion in individual and group protection claims across 2025, equivalent to £21.5 million every day.
Since 1 January 2022, FCA rules have required that renewing home and motor insurance customers are quoted prices no more than they would be quoted as a new customer through the same channel.
Source: FCA, PS21/11 General insurance pricing practices: amendments
Solvency UK reforms, including a significant reduction in reporting requirements for many insurers, took effect on 31 December 2024.
Source: Bank of England, Prudential Regulation Authority Annual Report 2024/25
Business challenges
01
Renewal pricing evidence spread across tools
Rating engines, pricing models and renewal data often sit in different systems. When the board asks how renewal prices compare with the equivalent new business price, the answer is assembled by hand from several extracts.
02
Claims MI and the ledger disagree
Handlers record reserves and payments in the claims system, while finance books them from monthly extracts. Timing and coding differences mean claims MI and the ledger rarely match without manual adjustments that nobody documents.
03
Bordereaux rekeyed before they can be used
Insurers working with MGAs and coverholders receive premium and claims bordereaux in different layouts and at different quality, then clean or rekey them before the data reaches underwriting or finance reports.
04
Product reviews start with a data hunt
A fair value review needs claims ratios, complaints, cancellations and distribution costs for each product. Where those sources are not joined, every annual review begins by gathering the data again.
Where the opportunity sits
Bordereaux ingested and checked automatically
Standard templates, automated validation rules and one store for delegated authority data shorten the time from receipt to reporting and show data-quality failures by partner and by month.
Claims and finance on one reconciled basis
A reconciled data layer between the claims system and the general ledger gives claims MI and finance the same paid and reserved figures, with each adjustment recorded and explained.
Product data ready for governance reviews
Joining claims, complaints, cancellation and commission data by product means the fair value review starts from current figures. The judgement on value stays with the firm's product governance and compliance teams.
How we approach it
We begin with the reports the business relies on: board and committee MI, claims and underwriting dashboards, bordereaux reporting and the product data used in governance reviews. We trace each figure to its source in the policy administration, rating, claims and finance systems and record the manual steps between them. Access is read-only until the findings are agreed. We then build the data pipelines, reconciliations and workflow tools in order of priority, working with the firm's actuarial, finance, compliance and IT teams. Reserving, capital calculations, pricing decisions and regulatory sign-off remain with the firm's actuaries, compliance function and advisers. THEFOCUS does not provide regulated financial or investment advice, actuarial opinions, audit or legal services.
How our experience is evidenced
No anonymised engagement in insurance is published. This page describes our approach and capabilities in data, management information, reporting and process technology. THEFOCUS is not FCA-authorised and does not provide regulated financial or investment advice, actuarial, audit or legal services.
Questions executives ask
Do you provide actuarial or pricing advice?
No. We do not set reserves, assess capital, approve pricing models or give actuarial opinions. We build and document the data, reporting and workflow that your actuarial and pricing teams use, and those teams own the methods and the conclusions.
Can you help with delegated authority and bordereaux data?
Yes. We can design bordereaux templates, write validation rules and automate the intake and reporting of premium and claims bordereaux from MGAs and coverholders, with data-quality reporting by partner.
Is THEFOCUS authorised by the FCA?
No. THEFOCUS LTD is not authorised by the FCA or the PRA and does not carry out regulated activities, including insurance distribution or advice. Our work is management information, data, reporting, process technology and operational change.
Have you worked with insurers before?
We have not published an anonymised engagement in insurance. A proposal would set out the approach, the specialists assembled for the work and which parts of it would be new to us.
Discuss this with us
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