Specialty Portfolio Solutions

COLLABORATING WITH ALL LINES OF BUSINESS

UIB’s Specialty Portfolio Solutions team is a specialist practice that collaborates closely with all divisions of UIB. The primary focus is within the class of Property with a strength territorially in the US, Canada and Australia with experience in managing capacity provision for delegated authority, notwithstanding the primary focus all territories can be considered. As regards other classes, as a subject matter expert in portfolio solutions, our approach is working closely within other divisions of UIB to draw on their expertise in a particular class, understanding of risk and relationships developed over many years with (Re)Insurers. By working together, we combine our strengths in delivering the best solution for our clients.

No matter what stage in the process you are at, we develop a business plan with you, to bring capacity to the table, negotiate a common ground for contract formation, management or oversight of data collection and requirements, manage and build trust and confidence between client and capacity providers to growing a profitable book and long-standing partnership between all stakeholders.

Types of Delegated Authority

Insurance

Prior-submit line slips, bulking line slips and binding authorities, the goal always being a full binding authority.

Parametric

For property, construction, agriculture, renewable energy, and cyber clients there are solutions available which are to be viewed outside the traditional transactional insurance lens that can provide effective balance sheet protection. This solution can be offered either for a single insured or to a cedant looking for a solution to a large aggregate exposure in a particular area from one or more catastrophe perils.

Reinsurance

Strategic portfolio protection as a facultative line slip / binding authority, either as a line booster, line protection below a risk excess or strategic protection of a treaty. Risk excess of loss facultative solutions.

Digital

The overlaying of a digital platform to a delegated authority to enhance economies of scale.

Road to Success

In reality, there is no limitation, some of the factors that lead to success for a delegated authority are managing and navigating the following:

FOR INSURANCE

Is the concept viable in terms of capacity’s appetite, for example, is the opportunity within the market appetite along with the required experience and relationships of the individual who is being granted the delegated authority.

FOR REINSURANCE

A level of trust and transparency needs to be a continuing theme, for example, little or no retention or an underbalanced portfolio will reduce the success of what a cedant is looking to achieve.

FOR DIGITAL

The rewards of a successful digital platform cover many areas of the business, however, a strong commitment from all parties is a must.

DELEGATED AUTHORITY

These take time to get in place, if everything runs smoothly from the start to the inception of the contract this process is at least three to six months for a digital solution this will more likely be two years.