Overview of Davies Group
We are a multi-award winning operations management, consulting and digital solutions business working with organisations in highly regulated markets (including insurance, financial services, utilities, communications, and regulatory bodies) and global businesses.

Our key solutions include: Claims solutions, Insurance Services and Consulting and Technology (incorporating the specialty consultancy Ember, and SaaS platforms; ServiceTick & Veriphy).

We have a 2,000+ team of professionals across the UK, Ireland, Bermuda, the US and Canada with headquarters in the City of London. Beyond our core team, we operate a network of specialist consultants that are deployed within clients’ own operations to execute regulatory and transformation projects.

To find out more about Davies Group, please take a moment to look at our online video here!

Davies Insurer & Market Services 
Davies Insurer & Market Services is a well-established division of the Insurance Services solution of Davies, offering “the complete solution” of bespoke services to clients. 

 

Binding Authority Management

Our unique solution that facilitates effective bordereaux administration to deliver enhanced credit control and improved Coverholder management and performance (including compliance and regulatory reporting).   

We were the first binding authority management service in the London market to combine a tried and tested system solution with an information gathering service that included analytical feedback supplied by our experienced team of binding authority technicians. We believe our purpose built system, BACCUS, in conjunction with our service solution is the only offering that provides a bespoke and flexible approach to ensure the requirements of all interested parties are met.

We have a proven track record in on-boarding new clients onto their chosen software platform; improving the timely receipt of bordereaux from Brokers, Coverholders, TPA’s and market associations to enhance data quality that will further improve the delivery of key information to clients.

We use our expertise to work with third party systems such as DA SATS and can deploy our staff as resource to clients who are then able to shift their focus back to operations and business as usual.

We have worked very closely with the market to improve overall data quality, helping to ensure clients meet their regulatory reporting requirements (including Solvency II and Conduct Risk).

For more information on Binding Authority Management services please contact:     
James Jacob, Director, James.Jacob@davies-group.com


Binding Authority Management Key Facts:

124,000 bordereaux loaded in 2019

Over 4,000 Binding Authorities under our control

Overseen in excess of 6,000,000 compliance and regulatory checks     

 

Credit Control

We provide a number of market leading Credit Control solutions to the Lloyd’s and Company markets and have been recognised as the LMA’s preferred supplier of Credit Control Services since 2013.

We offer an array of expert services ranging from Lloyd’s, MGA and Service Company credit control to bordereau production.

Subsequently, our team of experienced insurance practitioners have successfully delivered a Lloyd’s shared service for our clients. We manage in excess of 54% of market UMR’s equating to £8bn of EPI’s and have realised £500m in trapped premiums on client’s legacy accounts.

Our Lloyd’s shared service clients have membership of a Service Oversight Board which governs the service and is responsible for ensuring that key deliverables are met, improving performance and addressing any market issues that arise in an ever changing regulatory environment.

We have a proven track record of enhancing cash flow for our clients and the key deliverables are:
A cost effective outsourcing solution
A significant improvement in premium collection performance
Enhanced data integrity through management of EPI’s
Continued data cleansing to ensure complete accuracy of reports 
Positive balance sheet impact from accelerated cash flow

For more information on Credit Control services please contact:     
Sarah Savory, Director Sarah.Savory@davies-group.com

 

 

 Credit Control Key Facts:

Leading service provider of credit control services     

LMA’s preferred supplier in 2013

Manage £8bn of EPI’s

£500m legacy premiums collected to date

 

Loss Fund Management

Delivering a dedicated, professional resource providing expertise in the returning of loss funds resulting in a positive impact on the balance sheet.  We will implement strategic and effective forensic processes to attain the best results for our clients, which comprises of:

Comprehensive analysis of loss funds held in trust
Identifying missing loss funds
Reconciling historic loss funds
Recovering surplus funds
Implementing controls and procedures to prevent future mismanagement
Utilising an extensive network of Broker and TPA contacts. 

Benefits:

Through a co-ordinated market approach, our service solution has returned £130m back to the Lloyd’s and London market to date.  These funds would often have remained unidentified and unknown.  The service provides finality to portfolios as clients can close entries, reduce technical reserves and improve the process for future management of live funds.

For more information on our Loss Fund Management service please contact:     
Andrew Collery, Director, Andrew.Collery@davies-group.com 

 

Loss Fund Service Keys Facts:

Returned £130m back to the market

Strategic and effective forensic process

Extensive relationships at all levels with Stakeholders     

 

Reinsurance Services

Our team have achieved an unrivalled reputation for reinsurance service delivery in the Lloyd’s, London and International Insurance Markets since 2007. With our extensive technical knowledge and ability, we have assisted over 15 carriers in delivering their Reinsurance Target Operating model (TOM). Our services include Reinsurance software implementation support, we have worked on the majority of reinsurance products utilised in the industry, or a dedicated Business as Usual (BAU) resource for carriers in times of organisational change.
In the constantly changing world of reinsurance, we supply experienced technical resource to support client’s businesses. Our services include:
BAU outwards reinsurance resource
Support in respect of full implementation
Data strengthening, migration and upgrading an existing system
Pre-migration health checks
Outwards peer reviews

For more information on our Reinsurance Management service please contact:     
Andrew Collery, Director Andrew.Collery@davies-group.com


Reinsurance Services Key Facts:

Unrivalled reputation for providing services to insurance markets since 2007

Successfully assisted over 15 carriers to deliver TOM and Reinsurance Software transition     

Highly skilled technicians placed in working practices in the market

 

Market Portals

Conduct Risk Service

We have recognised an ever growing regulatory requirement for the Market to comply with Conduct Risk. We also understand the importance of the collation of key stakeholder information that is required in order to satisfy regulatory bodies.

We provide a market leading service via an in-house portal to manage the Conduct Risk process from start to finish, including diary management.

Our clients have the ability to:

Design and implement a bespoke questionnaire to satisfy their Conduct Risk reporting
Instigate flexible reporting channels in order to capture key stakeholders
Manage product lines against consumer requirements
See the benefit from a reduction in administration time and cost
Access a management information dashboard with full export capabilities including part-completed returns
Challenge poor performing stakeholders 
Deposit bordereaux in a secure environment, with ability to upload into third party binding authority systems

Compliance Repository Service

Our compliance repository service provides clients with a facility to securely distribute company or regulatory documentation to their interested parties via an online portal. The flexibility of the system enables documents to be sent out to a single contact, a company (or single contacts in a company) or types of companies such as specified Brokers or Coverholders.

The dashboard functionality enables the current status of the communication to be made visible via the portal, detailing when and to whom the files were sent, and if the communication has been read. A graphical interpretation of read and unread items is available as an effective management guide and this monitoring tool ensures essential materials are being read by the interested parties.

Extensive filtering options are available within the portal to formulate the required view and once the data selection is complete an option to export to excel becomes available for reporting purposes.

Key capabilities:

Ability to securely share multiple documents with single/multiple clients
Automatic confirmation of read/opened messages
Various filtering options to acquire desired output view
Controlled reporting with output to excel available
Easy set-up of contacts

For more information on our Market Portal Services please contact:     
Nikhil Raj, Head of Business Intelligence & Data Analytics, Nikhil.raj@davies-group.com     


Market Portal Key Facts:

One stop shop for all Insurer & Market Services     

Management Information Dashboards

Reduces administration time and cost

Built by stakeholders

Full export capabilities

 

Broker & Coverholder Financial Reviews

We provide a solution to review the financial and operational information of Brokers and Coverholders, allowing our clients to make informed decision and risk assessments on potential business partners. Since the service commenced in the early 2000’s, the number of reviews carried out has grown substantially with over 250 Broker reviews and 1,000 Coverholder reviews undertaken annually.  All of the information can be incorporated into a quarterly scorecard or report which is discussed with clients along with any issues that have arisen during the quarter. 

Benefits:
Facilitates compliance with regulatory requirements and credit risk management policies 
Assists with setting credit thresholds with key trading partners
Supports new broker and Coverholder application approvals and periodic renewal processes
Provides meaningful performance comparison based upon quantifiable financial and operational targets measured against specific KPIs important to each client
Tracks performance over time to identify material changes or trends in performance, including a change in revenue, operating profit and net assets
Delivers in-house time and cost savings
Providing representation on client credit risk committees

For further information on our Financial Review Service please contact:     
Neil Carnaffan, Finance Director, Neil.Carnaffan@davies-group.com


Financial Review Key Facts:

Reviewed 250 Brokers & 1000 Coverholders

Full support throughout Coverholder Approval and TOBA Processes     

 

Audit & Inspection

Our leading audit & inspection services are delivered through our subsidiary companies: John Heath & Co based in the USA and A. M. Associates Insurance, based in Canada. With over 500 audits conducted annually, both firms have become trusted partners to Lloyd’s and domestic markets for many years.

We deliver accurate, timely and comprehensive underwriting audits, in-depth claims reviews, new business reviews and expert assistance to insurers and reinsurers. Our goal is to provide clear communication through a cost-effective, professional service that allows us to build long standing relationships with all our stakeholders. We ensure your business needs are optimised and ready for the future.

Both companies have decades of experience in performing audits domestically as well as within the Lloyd’s market and participate in Lloyd’s coordinated audit initiative, via AiMS, in order to facilitate the sharing of costs in the audit of Coverholders and third-party administrators.   Our auditors are significantly experienced in the completion of audits and reports in accordance with LMA designed scopes, but can also deliver tailored audits focusing on our clients’ specific areas of concern or internal requirements.

Our firms also offer specialized underwriting and claim audit services on behalf of reinsurers to ensure cedent’s compliance to treaty obligations and to confirm accurate reporting.  We can also negotiate on behalf of Reinsurers who wish to liquidate their liabilities and eliminate the cost of running off old treaty obligations.

Benefits:
• An excellent understanding of the Lloyd’s Delegated Authority Audit Scope and Lloyd’s Minimum Standards

• Full understanding of the relationship between Lloyd’s Managing Agents and their Coverholders

• Regular oversight to address problems in a timely manner before they impact underwriting results

• A flexible approach to client needs

• Our audit teams work cooperatively with your clients to ensure that each audit is an opportunity for constructive change

• An extensive knowledge gleaned from global experience and expertise

For more information on our Audit & Inspection Service please contact:     
James Jacob James.Jacob@davies-group.com


Audit & Inspection Key Facts:

Dedicated team with over 100 years’ experience

In excess of 600 audits undertaken yearly across more than 160 Coverholders and TPAs     

Excellent knowledge of Lloyd’s minimum standards and Delegated Authority Scope

 

Meet the team!

If you would like more information on our range of service solutions, our team would be happy to help!
Please call us on 0207 264 0800 or contact the team below:


 
Robert Dewen
Managing Director
robert.dewen@davies-group.com
James Jacob
Director
james.jacob@davies-group.com
Sarah Savory
Director
sarah.savory@davies-group.com
Andrew Collery
Director
andrew.collery@davies-group.com
Nicola Pettitt
Client Services Manager
nicola.pettitt@davies-group.com
Neil Carnaffan
Finance Director
neil.carnaffan@davies-group.com
Nikhil Raj
Head of Business Intelligence & Data Analytics
nikhil.raj@davies-group.com