MGA Operating Model (Post Brexit)

Context:

An MGA decided to change its European operating model following the UK’s Brexit vote.

A Camelot expert, working as the Group CIO and Deputy Brexit lead, was charged with ensuring the smooth transition of operations post Brexit. Working with executive teams and representatives from each European country, all impacted stakeholders were identified, engaged and involved: IT, 3 rd parties, Service Management, Procurement, Finance, HR etc.

What We Did:

Actions were taken to:

• Novate or replacement of all in-scope contracts

• Refresh documents, processes, comms plans etc to reflect the new scope and operating model

• Implement of a daily data feed to the UK HQ of the group company taking on responsibility for European business

• Establish run-off 3 services for some lines of business

• Introduce a new IT recharge process and allocation model

Resulting Business Benefit:

The seamless transfer of European staff and assets between entities and full compliance with legislation

• A new IT service provision contract being established

• The project was recognised internally as “the best run project this company has ever done”

• Significantly less time was spent dealing with Brexit than many other peer MGAs

• Due to the way the project was structured, valuable knowledge gained during the project was retainedin-house rather than being lost if the option to fully outsourced had been taken.