There tend to be two types of client engagement:
The first where the client knows what they want to achieve but is unclear how to achieve it. The second is where the client knows what they want done and is looking for an experienced pair of hands to execute on a plan.
In the case where a client needs help to work out the building blocks required to achieve their goals or perhaps needs help prioritising within existing plans, engagements tend to take the form:
1. The Brief
The first step is usually for the client to define the business problem that they would like to solve. Areas that we can help with tend to be data & pricing related. Angelica Solutions has experience and expertise in:
- Insurance pricing & MI systems
- Data – what to use and how, what to capture and best-practice reporting
- Pricing models and analytical techniques, update and deployment processes
- Underwriting – underwriting rules, distribution channels, different capacity models
- People – pricing, underwriting and data job specifications, organisational design, objective setting, performance management, recruitment, mentoring and interim leadership
2. The Proposal
Angelica Solutions would then propose a piece of work and approach, along with an associated fee. For a well-defined brief with a clear deliverable this is usually a fixed fee, for a less clear objective or on-going consultancy this would more likely be on a time-and-materials basis.
3. The Engagement
The engagement would usually then include:
- Exploratory business analysis: meet and greet of key personnel, review existing data & MI vs defined business problem.
- A written report: summarising findings, gap analysis and suggested next steps.
- Actions: for each suggested next step, indicate who could action these (may be in-house personnel, further consultancy with Angelica Solutions, an alternative provider or a combination thereof) and where possible give indicative costs of any resources required.
Detailed Review or High Level Plan
It may be useful to consider some initial qualification questions to help establish what type of engagement may be possible.
1. Data availability:
Do you have access to data but are unable or unsure how to get insight from it? Or do you lack the data you need to quantify business problems?
3. Performance:
Are you not getting the results you expect when you take actions or do you have business goals but are not sure what actions to take to get there?
2. Systems capability:
Do you have the tools you believe you need but feel that you are not currently using them to their full potential, or are the tools you have limiting your ability to execute your ideas?
4. People:
Do you know what you need to do but lack the breadth or depth of skills to execute your plans?
Wherever you are in your business journey, if you need strategic data, analytics or insurance expertise then get in touch to discuss how Angelica Solutions may be able to help.
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Company Details
Company name: ANGELICA SOLUTIONS SERVICES LIMITED
Company number: 11905926
Incorporated: 26th March 2019
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