As we come to the end of the year, we have established a tradition to reflect on some of our highlights across 2019. For r10, 2019 was an exciting year where we grew our capability to continue responding to the demand for modernisation across the London and international insurance markets. As a company, we have invested further in building trust with our clients, associates and partners, by focusing on working collaboratively, enhancing our services and attracting the best talent.
Bigger and Better
To improve and refine our services, the r10 team grew at a record pace introducing capabilities across people advisory, business analysis, project management and solution design. Also, this year we introduced the r10 Senior Advisory team to advance our expertise and support r10’s aim to deliver short, medium and long-term success to our clients.
r10 invested in working with our clients and workforce to understand the key risk areas and its impact on people to consider with IR35 ahead of the April 2020 reform.
In 2019, we continued to work collaboratively with our associates and establish further the r10 Community. We aimed to integrate our associates into the r10 culture, provide the support they need to deliver and create more visible opportunities to partner with us. Building a trusted network of experienced associates was a priority; it ensures that our clients have access to a wide range of experts with a mutual passion for results, delivery and modernisation.
r10 was proud to join the Management Consultancies Associations (MCA), alongside many leading organisations in the industry. Becoming an MCA member further demonstrates r10’s commitment to the highest standards in consulting, as well as our appetite to shape the future of the industry.
We have entered into a strategic partnership with ACORD, the global standards-setting body for the insurance industry to aid in the creation of faster and more accurate data exchanges, as well as help organisations to gain efficiency and cost reduction.
Promoted innovation and change in the London Market
r10 delivered instrumental projects for London Market modernisation, such as:
- An automated Brexit solution to support the Market, leading the project management and testing.
- A Market Acceptance Testing for a cross-market initiative, including strategy, market coordination, reporting and sign-off.
- A GDPR project turnaround, delivering a comprehensive problem diagnosis and effective remediation.
- An ITIL process optimisation for a global insurance carrier, transitioning successfully to BAU and enabling IT to support business more effectively.
- Support on the Future of Lloyd’s proposal of the large insurance services provider.
Sponsorships and Events
Throughout 2019, r10 sponsored and participated in several influential events in the London Market, such as:
- DXC Digital Minds, where r10’s Emily Low and Lauren O’Donoghue joined as delegates. Also, we sponsored an interactive Digital Minds workshop on the Future of Work facilitated by Beth Cooper, r10’s Senior Advisor.
- Women in Insurance Awards, which r10 sponsored the Change Excellence Award.
- Insurance Industry Charity Foundation (IICF), which we sponsored and attended to explore themes of Leadership, Innovation and Diversity.
- WeAreTheCity Rising Stars Awards, where r10’s Jasmine Shell won the insurance category.
- Intelligent InsurTech Europe, where we listened to cutting edge tech translated to valued customer outcomes.
- Insider London Market Conference, where insightful discussions were shared on Lloyd’s Blueprint One and the Future at Lloyd’s.
Thought Leadership and Initiatives
- Undertaken a detailed study of the contents of Blueprint One and over a series of bite-sized articles, we provided a breakdown of the proposed changes to digest what they will mean for businesses. This study is shared on our blog.
- Produced an IR35 Explained document to help our associates determine their tax status.
- Produced a paper on the Future of Work and its impact on the London market and people. Find the Organisation for Adults paper here to explore changes on the employee life cycle and success factors to enable the required cultural change.
- Hosted a series of breakfasts focusing on “Shaping the Market of the Future” with representatives from brokers and carriers. Topics included The Future of Work, The Future of Delegated Underwriting Authority, and The Future of Distribution. The key findings of the events are on r10’s blog.
- Run an InsurTech Initiative workshop to think more radically and collaboratively about increasing the pace of positive change.
- Hosted a cross Carrier lunch to learn, share common problem areas and actively collaborate on solving challenges.
r10’s commitment to giving back to the community remained a priority in 2019.
- This year, we partnered with Single Homeless Project (SHP), a London-wide charity working to prevent homelessness and help vulnerable people to transform their lives.
- We participated in many activities to fundraise on behalf of SHP, such as the Gung-Ho 5K inflatable run, the Royal Parks Half Marathon, as well as hosted a Christmas Charity Quiz Night. In total, we have raised £5,533.
- Also, r10’s Project Delivery team carried a pro bono support for SHP to help them upgrade their Office 365/SharePoint functionality and move everything to be cloud-based.
- Furthermore, our “Talent in Sports” programme expanded to support more upcoming athletes, such as the Old Alleynian Rugby Club.
- We participated in the London Poppy Day to raise funds for the British Army.
- Also, we have attended the AXA XL Matt Hampson Foundation dinner where all proceeds from the evening went to support, relief and treatment for anyone suffering serious injury or disability from participating in or training for sporting activity.
To raise awareness among our sphere of influence, r10 promise to promote wellbeing, diversity and inclusion continued in 2019. r10 ran campaigns on mental health and stress awareness, gender parity, and talent diversity in the insurance industry.
Looking forward to 2020
As the year comes to a close and the market reflects upon the challenges ahead, we end on a positive note. Companies can return to plans that were put on hold pending Brexit and as the LMTOM draws to a conclusion, what the market has learned over the past few years can now be used to create the market of the future. As the Future at Lloyd’s proposals start to take shape, here at r10 we are helping our clients navigate what some of these initiatives may mean for their organisations.
We would like to thank our clients and associates for their ongoing support and particularly the new ones who are becoming part of the ever-growing r10 family. The r10 team is excited as to what opportunities lay ahead and how we can continue to provide an unparalleled level of service to the market.