The delegated underwriting model continues to be attractive for Managing Agents, enabling them to write risks across a diverse portfolio and grow their business with the help of third parties. Nonetheless, this model comes with its own challenges which is well known throughout the Lloyd’s market.
Join our briefing session, where we discuss the key challenges facing the market around delegated underwriting, the need for managing agents to ensure robust control environments exist, with a particular focus on the need for coverholders to be operationally resilient and the impact of not having an adequate operational resilience framework in place.
Learning Objectives
At the end of this session, delegates will be able to:
- Summarise the key components of an effective delegated underwriting framework
- Describe the key controls that need to be in place to ensure effective coverholder oversight and performance monitoring
- Outline the operational resilience requirements applicable to coverholders and how these can be applied proportionately and pragmatically
- Explain the impact of not having an adequate operational resilience framework in place
About the presenters
Nousheen Hassan, Director, Head of Insurance Risk Assurance
Nousheen is a Risk Assurance Director at Grant Thornton in Financial Services. She is a senior risk and audit professional with over 17 years’ experience in the insurance industry. At Grant Thornton, she leads the Risk Assurance offering which includes internal audit, second line risk assurance, insurance operational resilience and third-party risk management.
Prior to joining Grant Thornton, she ran her own boutique consultancy business in risk and audit. She has been the Head of Internal Audit at firms such as Markel, Brit and Pembroke Ironshore. She has also been interim Chief Risk Officer at a retail insurer and Head of Risk at Neon Underwriting. In the past, she has led and managed several audit and risk teams across Lloyd’s and General Insurance firms including Liberty Specialty Markets and QBE.
She qualified as a Chartered Management Internal Auditor with Deloitte in 2004, has a Law degree and is member and Livery woman of the Worshipful Company of Insurers.
Priya Prakash, Associate Director
Priya is a proven subject matter expert for Operational Resilience. She has created and led cohesive cross-geography teams to implement and provide assurance for Operational Resilience regulatory requirements across multiple clients including financial services and regulatory bodies. She has extensive experience in setting up customised resilience projects (including third party assurance / scenario testing / BCP) projects for large multinational firms to align with their wider risk requirements and meet their overall organisational goals.
As part of the Lloyds Working Group and Forums, she analysed challenges faced by managing agents with respect to resilience. Priya provided guidance on interpreting regulatory statements and developing methodologies to carry out at each phase for firms of various size and complexity.
Priya also provides regular training in financial service forum on Operational Resilience and how to achieve compliance. She is a goal-driven and detail-oriented professional with extensive consulting experience in numerous other regulatory / business transformation projects. This includes Sarbanes-Oxley audit, Brexit, GDPR and third-party outsourcing, business transformation.
