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End-to-end delivery of the full technology solution for a Syndicate Management Company.

Our client is launching a new syndicate management company in the London Market. The aim is to provide syndicates with a best-in-class technology solution that utilises proprietary technology and Insurtechs within the industry.

Alchemy London Market (ALM) has been engaged to lead the delivery of the initiative, this includes capturing all business and technical requirements and processes, creating the solution, producing, and delivering to an end-to-end plan, managing stakeholders and communication as well as managing third party supplier requirements. ALM has also been brought in to support the tailoring of the overall solution to each syndicate as they are onboarded into the organisation, and also help create their processes and business rules

What was the challenge?

Due to the project’s wholly greenfield nature, ALM needs to take our client on a journey to ensure the solution matches their needs. From the outset, it has been clear that the knowledge available to our client will not be adequate to form a detailed set of requirements. It transpires that there are gaps in operational knowledge within our client’s business areas.

How did we help?

ALM has worked with our client in discovery of their situation and how we could achieve their goals. We delivered a set of recommendations, most notably the need to hire various SMEs across key business functions. With ALM’s resourcing expertise, we led a round of hiring and filled their roles as required. We captured all levels of their requirements, business and functional, which in turn fed into their processes and frameworks, and our ecosystem partners to ensure the solution exceeds expectations. ALM worked with our partners to deliver the solution, including configuration of the interfaces which create critical links between the respective areas of the business. We created a robust test plan to ensure that all areas of functionality are tested against agreed success criteria prior to handover to the customer, with a comprehensive training package also delivered. ALM then managed the full transition to business as usual, ensuring the support agreements were in place and all support material was provided. We also advised our client on best practices post-project with their business and once again assisted with resourcing for further operational roles as required.

What was the outcome?

As a result of our initial discovery phase, a proposed solution has been designed. This has been achieved by a series of high-level requirements workshops to inform the solution & our approach.

Held preliminary talks with ecosystem partners/solution providers on their approach and estimated costings, which have been provided to our client.

All progress to date has also fed into the first view of a delivery plan based on indicative timeframes.

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