Connected Thinking

The Challenge

The Offering

Background

Distinctiveness




Partners Technology Innovation Process Talent

Connected Thinking

Acturis is about helping different players in the general insurance market succeed. We do this through innovation – offering new technology to brokers and insurers; creating unique solutions together with clients who are keen to improve their offer in the market; connecting different parties involved in the insurance process together.


The Challenge

The general insurance industry offers both enormous rewards and difficult challenges to participants. The market is attractive because is it extremely large and many players make handsome profits through efficient and innovative underwriting and distribution of products. However, at the same time the industry is incredibly challenging because it is inefficient. For example, multiple hand-offs, duplication, manual processes, errors, rework and incompatible systems result in overheads absorbing 34% of all premiums. In other words, more than one third of a commercial customer's premium does not go towards risk transfer, but is consumed in cost. This inefficiency results in low (or no) profitability and is compounded by poor customer service. The players in this segment need to seriously improve their service levels and reduce their costs or risk, over time, being replaced by alternatives. These cost inefficiencies are too great for customers to ignore.
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The Offering

Acturis offers several related services:

• The Acturis Broker Platform – to meet the challenges of today's insurance environment, Acturis has developed an innovative broker trading system, which significantly improves broker efficiency, service, and broker-insurer interaction. This platform is the only system a broker needs and is supplemented by an array of innovative products and services aimed at increasing brokers' revenue and providing growth opportunities.

• Professional Services – we believe that the solution to the industry's problems requires a mix of process redesign, product innovation, commercial restructuring in addition to leading edge technology solutions. Acturis offers three sets of professional services to clients:
- Business Consultancy – general insurance consultancy services aimed at helping our clients succeed. This includes corporate and product strategy development; affinity service development and strategy; process analysis, benchmarking and reengineering; change management and training.
- Insurer Services – a set of professional services to offer support and expertise in the electronic trading area. eCommerce – particularly Commercial Lines eCommerce – is in its infancy and presents a significant challenge to insurers. Acturis is a leader in this area and has helped several insurers define their product offer, develop and implement the most effective eTrading strategy, and create a powerful proposition for their clients. We also provide distribution services for insurance products.
- Bespoke System Development – tailored system development for large general insurance projects with specific needs. Acturis has an outstanding track record of leading edge and innovative systems development and on time delivery using a low cost system delivery process.

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Background

Acturis is led by Theo Duchen and David McDonald, two ex-McKinsey partners who have a combined 20 years of insurance, technology and e-commerce experience and expertise. The Chairman of Acturis is Sir Brian Pitman, one of the most respected and successful leaders within the European financial services industry. Both the board and the team consist of highly talented people with a track record of success in the world's leading strategy and technology consulting firms and in leading global financial services companies.
Acturis is supported by Nedcor who has provided all development capital to date and owns a majority of Acturis’ equity. Nedcor is one of the most innovative financial institutions globally, having moved from its roots as a mainstream bank to become one of the leading forces in technology and process outsourcing for banks and financial institutions. Nedcor provides process administration and technology platforms for leading institutions such as Credit Suisse/Swisscard and Capital One. With a market capitalisation of some $3.5 billion, assets of some $20 billion and annual income of $800 million, Nedcor also provides Acturis with an excellent financial pedigree. See www.nedcor.com for more information.

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Distinctiveness

What makes Acturis distinctive in the General Insurance market? There are several reasons:

• A business first, not technology first, approach. Acturis combines technology, strategy and operational expertise to provide the most powerful solutions. Many other offers focus exclusively on technology, strategy or operations; however a competitive and changing environment requires a blend of all three elements.

• An outstanding professional team with the full range of industry, re-engineering and technology skills to make a difference.

• Track Record. Acturis has developed one of the most innovative insurance solutions in the Commercial Lines Market. It continues to win business with its combination of timely and effective solutions.

• Leadership in third party integration, eTrading and connectivity in general insurance.

• Ownership of a powerful existing and proven technology and associated service set widely used in the broker market by leading brokers and insurers.

• A proven and unique 'partnership' model with clients, working in combination to implement meaningful change.

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