UK General

UK General Insurance Group

About the company

UK General is an award-winning, specialist insurance provider dedicated to supplying innovative insurance solutions that meet the changing needs of their partners and their customers.

Their innovative trading solutions and niche product expertise give them the capability to tailor over 60 specialist products, adding value to their partners by giving them access to markets that traditional insurers do not have the appetite or expertise to underwrite.

The UK General Insurance Group is made up of several different trading areas, specialising in their own area of expertise.

• UK General Commercial
• UK General Personal
• Rural Insurance
• UKGI Compliance

Challenges

• Needed a forecasting software application to supplement the existing underwriting system.

• Their underwriting software at the time was essentially a schemes administration and processing system which contained no facility to forecast future receipts, earnings and claims of the third party schemes underwritten.

• Cumbersome Excel models containing historical data and long-winded formulas were managed for each of the 700 schemes underwritten by UK General, so spreadsheet size and system resource-limited the number of months and years ahead that we are able to forecast

The Result

• Developed a series of models which allowed growth curves for each of the 700 schemes that delivered moving averages.

• The final model which had been produced now enabled a complete reforecast to be produced in under one minute from a change being made.

• The end users get a level of analysis and flexibility which was totally unavailable to them using their previous spreadsheet models.