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Delegated Authority

How do you manage Delegated Authority?

Integrative answers for the insurance sector, for every stage of Delegated Authority.

Your business is looking for ways to effectively manage Delegated Authority. There is no doubt that it is a complex relationship; one which requires robust and transparent processes throughout every stage.

Real relationships

We offer a unique relationship, using industry professionals and technical expertise to work alongside your business and find exactly the right pathway for you.

Hitachi Solutions has harnessed the power of our Microsoft partnership to provide the ultimate Delegated Authority solution to the insurance industry.

Not only do our insurance-industry-specific solutions work seamlessly with all Microsoft technologies, they also provide a unique two-tier strategy to guarantee an overview of all aspects of the relationship between companies and brokers, as required by the FCA.

Why is it important? Why is it important?

Why is it important?

In 2015, the FCA produced a report[1] outlining concerns around the relationship between insurance firms and outsourced partners — particularly on the potential impact to customer outcomes.

It found that in many cases there was insufficient overview of the performance of products and the delivery of services. Hitachi Solutions responded by creating an integrative system that provides the key to successful relationship management.

[1] TR15/7: Delegated Authority: Outsourcing in the General Insurance Market  02/06/2015.

What makes us different?

We employ industry professionals who know exactly what your business needs to comply with FCA mandates. Together with our technical team, we offer you a complete solution that won’t let you down.

Using Microsoft Dynamics 365, we offer an exceptional solution that not only identifies exactly what an outsourced partner can provide, but also delivers a further second-stage check. It is this second stage that makes us unique, as it elicits all the necessary information to effectively calculate risk.

Outsourcing can result in an increased level of complexity. Hitachi Solutions makes sure the opposite is the case. We will enable you to demonstrate clear arrangements for assessing risk and proof of due diligence at every stage.

Delegated Authority can take many forms and Hitachi Solutions provides powerful tools for ensuring your decision to outsource is both viable and effective.


Market expectations Market expectations

Market expectations

The expectation is that insurers outsourcing to third parties have operative and risk-based controls in place. This includes an ongoing performance monitoring system which can be shared if required. Insurers have a responsibility to assess the appropriateness of delegating authority and may be required to provide evidence to this effect.

Using Hitachi Solutions together with Microsoft Dynamics 365 means compliance in all areas. Not only that, but it can be scaled up or down according to need — giving you the power to manage due diligence capability over a range of settings.

How do you measure up?

All authorised insurance firms are expected to comply with Principles for Business and these include conducting business with ‘due care, skill and diligence’. Working with Hitachi Solutions and using Microsoft Dynamics 365 means your business is in no doubt about conformity.

Hitachi Solutions employs proven approaches to ensure your due diligence methods concerning delegating authority are healthy, transparent and accessible, resulting in improved relationships and customer outcomes.

Further reading and expertise

Brochure

Delegated Authority

Integrative Answers for the Insurance Sector for Every Stage of Delegated Authority

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Expertise

Why choose Hitachi Solutions?

Hitachi Solutions is one of the largest and most qualified consulting firms specialising in Microsoft technologies in the world. Capable of handling complex, global projects, we implement applications that deliver:

We have everything required to equip your business with the latest in flexible and agile solutions to modern day business problems and to raise your game head and shoulders above the competition.