1
The story
The regulatory body in the market our client operates in conducts regular audit checks to ensure brokers conduct business with vetted insurance partners. Failure to meet these requirements means our client can be exposed to reputational risk as well as the risk of heavy fines. Our client was looking for a solution that would allow them monitor financial health of insurance partners.
2
The solution
GlobalData delivers a regular financial health report on a selection of general insurance companies operating in the market, which helps our client make a decision regarding choice of carriers to work with. We developed a methodology that looks at a number of qualitative and quantitative indicators to assign financial health ratings for each insurer.
3
The outcome
Our client uses the ratings to confirm the carriers they work with are in a good financial position and can be relied on to both in short and long term, mitigating risks for our client.
Financial health monitoring to mitigate regulatory risk
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