Consulting

Consulting Case Studies

Case one: Process (User) and System Documentation

Scenario: A US Reinsurer asked LOGiQ3 to create a complete set of process (user) and system documentation for their Administration area by visiting the client onsite for a three week period in order to understand and document their entire administration function.

Solution: The LOGiQ3 team:

  1. Completed a three week onsite visit to understand each administration process
  2. Updated client's existing documentation
  3. Created newly written procedures for those that had no documentation in place
  4. Created a full system documentation to illustrate the interaction between systems/databases
  5. Noted considerations for processes that were, at the time, non-existent

Case two: Retention Management Review

Scenario: A US Direct Writer asked LOGiQ3 to understand their current process for life retention, particularly multiple policies on the same life.

Solution: The LOGiQ3 team:

  1. Investigated and documented the client's retention life cycle
  2. Completed a thorough analysis on the list of policies that were flagged with a retention problem
  3. Designed an ongoing approach to manage "by life" retention

Case three: Conversion Project

Scenario: A US Direct Writer asked LOGiQ3 to assist with a backlog of 1000+ conversions. Converted policies were not being processed correctly on their administration system, understanding of treaties was incomplete and retention management had to be verified.

Solution: The LOGiQ3 teamed up with client to:

  1. Complete a treaty review
  2. Analyze conversions, rates and retention management - policy by policy
  3. Allocate converted policies into the correct treaties
  4. Complete system setup and data input

Case four: System conversion - Data verification/reconciliation

Scenario: A US Direct Writer was converting their administration system to a new version. During an initial review of the data in the existing version, the client found that the data coded into the system was incorrect. LOGiQ3 was asked to do a complete reconciliation and review of their system data against the physical treaties in place.

Solution: The LOGiQ3 teamed up with client to:

  1. Review and compare system treaty data against paper treaty data
  2. Review and compare paper treaty data against current administrative practices
  3. Document all discrepancies and issues
  4. Compile an analysis of financial impact and make recommendations

Case five: Operational Risk Assessment and Benchmarking

Scenario: A Reinsurer was considering the future direction of its operations and its functions. They contacted LOGiQ3 to conduct a complete process and workflow review of their Operations department (administration, claims, audit, etc.)

Solution: The LOGiQ3 consulting team:

  1. Completed onsite process and workflow review
  2. Completed onsite confidential staff interviews
  3. Reviewed existing process documentation
  4. Reviewed operational structure and assessed the potential risks
  5. Completed a benchmarking exercise against industry peers
  6. Produced a report of findings and benchmarking results

Case six: International Business Review

Scenario: A US Reinsurer asked LOGiQ3 to conduct a review of their international business. The focus was to understand Assumed Treaties vs. Retrocession Treaties. The client was most interested in the business being assumed and ceded, countries of issue, products accepted and ceded and any potential risks on claims.

Solution: As a separate unit, LOGiQ3:

  1. Conducted a complete review of all treaty terms
  2. Documented all results and produced a complete treaty inventory list
  3. Analyzed all products and countries of issue
  4. Reviewed claims that were potentially at risk

Case seven: Systems Testing

Scenario: A Reinsurer was in the midst of developing a home-grown administration system and asked LOGiQ3 to be their business experts and become a part of their testing team.

Solution: LOGiQ3 provided resources to:

  1. Test data and expected results
  2. Develop system unit testing
  3. Develop a system integration plan and testing

Case eight: Exception Handling

Scenario: A Reinsurer required additional "surge resource" to work through a backlog of administrative exceptions.

Solution: LOGiQ3 provided resources to:

  1. Complete research and analysis on a predetermined list of administrative exceptions