IN-HOUSE SERVICE TEAM (IST)
WHAT CAN AN IST DO FOR YOUR MANAGING AGENT?
In-house Service teams provide functionality and support services to your underwriters and can directly reduce acquisition costs, removing the requirement to outsource this traditional Lloyd’s broker administration role to Lloyd’s brokers.
WHAT WILL AN IST PROVIDE?
- Central closing support for new & existing Direct Insured facilities, Delegated Authority and consortia business
- Direct relationship administration (i.e. where there is no Lloyd’s broker involvement) and central settlement processing support for:
- Non-Lloyd’s broker produced business
- New MGAs
- Managing Agent led consortia
- Managing Agent service company business
- Inter-company (re)insurance arrangements
- No longer a need to find a Lloyd’s broker that may only add limited overall value - Your business is Your business
- Removing unnecessary acquisition costs and protecting business interests - No third party ‘vested interests’
- The retained knowledge will provide a resource centre for Lloyd’s tax and regulatory enquiries and ways of “doing business at Lloyd’s” - If the team doesn’t know, they will know who to ask
- Provides a scalable service platform to support the establishment of new ‘admin-light’ MGAs & Service Companies - Centralised process services reduce administration support costs for new business
- Acts as an enabler to underwriters, supporting new products and distribution models & new facilities, Better service response times, Enhanced accountability - Quick decision response cycle (from insight to implementation) means underwriters can commence writing business sooner
SUPPORTING YOUR BUSINESS, DELIVERING EXPERT BROKER-FUNCTION SUPPORT, REALISING SAVINGS
Svalinn is a trading name of Integro Insurance Brokers Limited authorised and regulated by the Financial Conduct Authority.
Registered Office 71 Fenchurch Street, London EC3M 4BS. Registered Company No. 2957627 England