Advances in web technology have allowed the insurance industry as a whole to operate on a more professional and cost effective basis and this in turn has led to many benefits for underwriters, brokers and insurers.
But not every business challenge has an ‘out of the box solution’ ready to run in simple, compliant, plug-and-play mode.
Bespoke software – meeting specific needs of companies in this regulated sector – can only be done by experts with the knowledge, skills, process discipline and experience of delivering insurance related solutions.
Tier 2 Consulting are experts in bespoke software development for the insurance market.
We have a highly skilled team with hands on experience of delivering successful projects for leading brokers and underwriters, as well as supporting Lloyd’s of London directly, with its Smartforms initiative in 2013 – and as part of its ongoing virtual learning program.
Our Agile approach to software development effectively de-risks the potential for mis-understood requirements and flawed code, using a series of iterative ‘sprints’ to build, test, deploy and correct at every stage.
This rigorous attention to detail sits at the heart of our work processes and ensures the quality of the final product.
Enterprise-class, standards-based technology
Our skills are recognised and validated by our accreditation as the only Red Hat Premier Partner for Middleware Solutions in the UK and Ireland.
The adoption of standards-based, fully supported open source technology in the financial services industry is part of the transformational change sweeping through the most security conscious institutions in the world.
In fact over 90% of the Fortune 500 Companies in the USA now run Red Hat technology of some sort.
On top of our bespoke software development skills we can combine elements of the Red Hat Middleware product stack to either provide the application platform or to affect integration, business rules and business processes.
Why use Tier 2 Consulting?
Our proven expertise in bespoke application development, using scalable & secure technology platforms is why Tier 2 Consulting is seen as a ‘safe pair of hands’ in this specialist area.
This is why Lloyd’s of London chose Tier 2 to create the SmartForms ‘proof of concept’ platform – demonstrating that Lloyd’s could provide insurance brokers with a platform to capture data and create an MRC (Market Reform Contract) wherever they are.
Using SmartForms, brokers had access to a document in a format they require (Word, PDF etc.) as well as structured standard data from the MRC in the form of an XML message.
Beyond Lloyd’s, our software solutions are allowing niche brokers to place insurance business quickly and efficiently for lines of business that are typically high-volume / low margin. We do this by ensuring that the required contract-class documentation (submissions, quotations, policies etc) is generated within a defined and audited workflow.
A custom Binding Authority solution allows authorised brokers to accept risks on behalf of the underwriter, generate the required certificate documentation and output data in an approved format (e.g. a Bordereau report). The system provides configurable ‘checks and balances’ to ensure that the Binding Authority cannot bind outside agreed limits, and refers those risks to the underwriter for approval.
And a leading broker – that was spending too much times and resources posting and e-mailing documents – asked us to deliver a web-based solution enabling underwriters and clients to access important insurance documents securely, at anytime, anywhere in the world.
The common denominator here is a team of expert developers who understand the need for highly-secure, fully supported and intrinsically compliant software solutions.
Our knowledge of the London Insurance Market and our work with a number of leading brokers, including Lloyd’s, is all the assurance you need to trust us with your software development projects.
Mitigate the risk – talk to Tier 2 Consulting.