Delta Capita: An Introduction Insurance
Delta Capita, the Financial Services division of Prytek, is a leading Consulting, Managed Services and Technology provider with a unique combination of FS experience and tech innovation capability.
Our Industry Sectors Capital Markets.
Retail Banking
Commercial Banking
Asset Management
Wealth
Insurance
Our Services
Consulting: We provide a proven advisory and transformation execution capability, which can accelerate the delivery of change programmes from inception through to benefits realisation.
Services: We provide solutions ranging from Resource Augmentation through to fully tech-enabled, Mutualised Managed Services. We currently provide services in Client Lifecycle Management, Post Trade, Structured Products, Pricing & Risk and Market Infrastructure. Mutualised Managed Services: Our vision is to reinvent the Financial Services Value Chain. We leverage our industry expertise, proprietary technology & investment capital, and work with our clients to: ► Replace high-cost, non-differentiating in-house platforms with our Mutualised Managed Services ► Identify valuable technology assets, supporting non-differentiating functions, which can be commercialised in a joint venture.
We are a trusted partner for a more efficient, effective and secure Financial Services value chain. 65+
Utah
Clients Globally.
Dallas
Jacksonville Dublin Wrexham Birmingham New York
London
Amsterdam
1,000+
Expert practitioners and consultants globally
Frankfurt
Tel Aviv
Bangalore
Singapore
Hong Kong
Tier 1 & 2 Service Top Financial Institutions.
Insurance Who we are: We can support clients across their value chain. As an established "challenger" in the consulting industry, we provide both advisory and execution using a blend of our global delivery capability, extensive domain knowledge and competitive pricing structures. In addition, we provide solutions ranging from Resource Augmentation through to fully tech-enabled, mutualised managed services to help our clients reduce cost and increase quality. How we work with our clients: At Delta Capita, we support our clients across the breadth of the insurance industry. From strategy and target operating model definition through to delivery expertise and capacity. We combine this with experts in data, regulation and process design plus expertise in areas such as Delegated Authority, Underwriting, Claims Handling, Due Diligence and Bordereaux Analysis.
Delivery Expertise We provide our clients with delivery capacity to help meet project objectives provide key transformation resources including Project managers, Business Analysts, PMO’s to deliver across key change initiatives.
Strategy and Target Operating Models We partner with our clients to define new operating models, new customer propositions, and find operational efficiencies. We have extensive experience in post M&A optimisation looking at data, people, and growth.
Data, Automation & InsurTech Data sits at the core of most of our engagements from analytics, data management, architecture, performance optimisation and automation to data science and AI. We work with best-in-class technology providers to automate insurance processes.
Risk and Regulation We help our clients navigate the regulatory landscape on key regulations such as Consumer Duty, Operational Resilience and Dora. We also have expertise in Sustainability from both a regulatory and strategy perspective.
Additional DC Services: Specific Expertise ► Delegated Authority: Specialised service to optimise and oversee delegated functions. ► Underwriting: Enhancing risk assessment and pricing models. ► Claims Handling: Streamlining claims processes for greater efficiency. ► Due Diligence: Comprehensive evaluation for M&A and other critical decisions. ► Bordereaux Analysis: Expert analysis for managing complex ledgers.
A selection of our relevant clients
Insurance Case Studies A selection of our client success stories: Global Shipping Insurer: Data Lead Shipping Insurance DC combined the clients existing shipping data set and our company risk data set to extend the insurers data set. Using our Kognos platform we looked at additional data such as war data, high risk ports, crew competency, sanctions, terrorism and historical accidents and certification avoidance to . We created a new risk model, incorporating shipping and related company data to reduce insurance risk. The combined data model was also used to the risk associated with cargo insurance. Reinsurance Investing Hedge Fund: Target operating model design to support growth strategy Based on an aggressive growth strategy in the insurance linked securities business a major upgrade to the capability and capacity was required. Focused on Reinsurance Ultimate Net Loss, catastrophe bonds and weather derivatives based out of Bermuda and the USA. DC developed a target operating model and Activity Based Costing (ABC) model to link investments in capability/capacity to value delivered against the strategy to select the best investment. Global Insurer: Data & User Migration During the merger of two insurance companies DC supported the integration working to ensure timely delivery of the migration, tracked project milestones, conducted testing and supported users on an individual level, to ensure successful migration of data and business information. Over 12,000 users were migrated and over 500GB of data was migrated from different global offices, four business divisions and multiple applications. Global Insurer: Consolidation of International Health Business DC worked with a leading global insurer servicing 126 million customers in 70+ countries. The program aimed to consolidate the back-office administration of personal medical insurances to one platform whilst embracing one way of working across the globe. DC set up the full program management office and governance framework. We also leveraged Delta Capita’s “Data migration framework” to enable a seamless migration to the new platform. Reconciliation – Lloyds Managing Agent Delta Capita was engaged by a Lloyd’s managing agent to perform cash reconciliations on a population of 24,000 claims and premium items. DC supported the client to report its EL risks to the ELD more accurately, ensuring compliance with ICOBS 8.4. and additional analysis and remediation for legacy non-compliance issues.
Reinsurer - Delegated Authority: Bordereaux Management DC supported with the retrieval, reconciliation and mapping of bordereaux pertaining to the three books of business managed by the client to ensure regulatory requirements (Solvency II & Brexit) were met. DC successfully completed the mapping of thousands of bordereaux, from uploading the latest monthly period to remapping incorrect data.
VIPR Implementation DC were engaged to provide a team to input three years of backdated data into VIPR, enabling them to be Solvency II compliant and to be ready for DA SATs. DC successfully completed the upload of historical data to the client’s standards and produced a project closure document (Playbook) detailing the process taken, including our approach, methodology and lessons learned.
Contact Us
Head of Retail, Wealth and Insurance Head of Retail Banking - Benelux Head of Retail Banking – Ireland Head of Risk & Regulatory
Sarah Carver Loek Bleijswijk Ronan Brennan Karan Kapoor
sarah.carver@deltacapita.com loek.bleijswijk@deltacapita.com ronan.brennan@deltacapita.com karan.kapoor@deltacapita.com
Insurance Case Studies A selection of our client success stories: Global Tier 1 Bank – Target Operating Model Developed a Target Operating Model for the group technology function with 14000 professionals. The target state was to break down organisational silos within technology i.e. Investment Banking technology, Wealth Management technology into one homogeneous global technology department within the firm. The engagement touched on all aspects of the technology organization ranging from developer productivity, to process simplification and adapting to Agile ways of working. UK Retail Bank - Financial Crime; CDD, OCDD & CRA Delta Capita supported with the development of a Financial Crime solution to facilitate a group-wide approach for the following processes: CDD (Customer Due-diligence), OCDD (Ongoing Customer Due-diligence) and CRA (Customer Risk Assessment). This included mapping of all key processes by customer type, streamlining of workflows and case management.
UK Retail Bank – M&A support Delta Capita were engaged to support the separation of the Specialist Finance Business from Invoice Financing in a leading Retail Bank. This included creation of a governance model to establish communication and decision making, negotiation support (seller side) of the purchase agreement, creation of transition processes, separation plan, comms plan, testing and post-sales support.
UK Retail Bank – Data Warehouse Solution The bank had upgraded their data warehousing solution causing unexpected performance issues. DC worked with the client to enhance stability, reducing downtime and ensuring uninterrupted data access for bank operations. We also improved incident resolution and system reliability alongside efficient data management, reducing errors and improving overall data operations.
Wealth Manager – Strategy and Market Analysis Delta Capita were engaged by a Wealth Manager to understand ‘where to play’ and ‘how to win’ in the wealth space. As part of this work DC conducted a full market research, competitor analysis and strategy for the product including initial market research into customer needs and perceived gaps, segmentation, features and functionality, full competitor analysis both existing and entry threats, Customer Journey Mapping and surrounding support flows and go to market and launch strategy. New Market Entrant: Go to Market Strategy Delta capita worked with a global comms and media technology and solutions provider to advise on their strategy and go to approach to enter retail banking specifically in the US with an eye on global expansion. We conducted a current state assessment of the clients existing product mix, SWOT, competitor analysis and key market trends. We then looked across the whole value chain utilising our proprietary tech to look at customer sentiment in retail banking to inform a comprehensive strategy. UK Retail Bank - Risk and Control Self-Assessment (RCSA) Refresh The client required support for the delivery of the RCSA Refresh across the Treasury Division of the bank (Front Office Trading Desk, Operations, Debt Capital Markets, Corporate Treasury and Asset Liability Management).Consolidation of 150+ existing controls into 20 ‘Key controls’ aligned to ORX industry standard and delivery of 35+ end to end SOPs were signed off by the business.
Contact Us
Head of Retail, Wealth and Insurance Head of Retail Banking - Benelux Head of Retail Banking – Ireland Head of Risk & Regulatory
Sarah Carver Loek Bleijswijk Ronan Brennan Karan Kapoor
sarah.carver@deltacapita.com loek.bleijswijk@deltacapita.com ronan.brennan@deltacapita.com karan.kapoor@deltacapita.com