Sevitt Consulting Limited

Acting as sole advisors or as part of a client’s project team our highly experienced teams can assist with the development and early-stage implementation of a range of insurance start-ups ranging from simple mono-line insurers to pan-European insurers operating in multiple jurisdictions.

Any new insurance venture (insurance company, reinsurer, broker, underwriting agency or MGA) needs to have a viable business plan and must obtain the necessary approvals from the insurance regulators in the selected domicile. Once approval is received, a detailed operational model needs to be created to ensure that the financial goals set out by the sponsors in the business plan are achieved in a timely manner, projected profits are maximised and shareholder value created.

We can help with:-

• Drafting the Business Plan and obtain regulatory approvals
• Provision of both executive and non-executive directors
• Selection of outside service contractors including local legal advisors, banks, investment advisors, auditors etc
• Creating industry-leading operational infrastructures using both group resources and external partners
• Access to the reinsurance markets to create capacity and to protect the balance sheet from catastrophic losses
• Development and benchmarking of rating plans. Obtaining actuarial sign off for bespoke and sophisticated rating engines
• Establishing both a front and back office platform in one or more locations including the recruitment of a management team and support staff
• Designing, project managing and commissioning client-specific policy and claims administration system/s using group resources and/or external partners
• Drafting tailor-made Operations Manuals (e.g. Underwriting Guidelines, Claims Manuals etc.)
• Development of real-time web-based management information
• Development of new products and new distribution channels

The breadth of these services can be narrowed or expanded to meet individual client needs.