News

3rd July 2018

Endeavour Insurance Services Outsources and Streamlines Claims Process thanks to Digital Transformation

Lloyd’s broker and delegated authority specialist Endeavour Insurance Services (Endeavour) today announces that it has outsourced its claims processing services to Advent Insurance Management (Advent). During 2017, Endeavour partnered with Advent to develop the Advantage digital claims processing platform, which Endeavour offers free of charge to its clients. This collaboration has...

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15th June 2018

Advent Insurance Management launches consultancy division

June 13, 2018: Advent Insurance Management, the InsurTech-led Lloyd’s & London Market service provider, has launched Advent Insurance Consulting following the appointment of Parminder Kaur as director.      Advent Insurance Consulting will provide cost-effective, hands-on support to drive greater operational efficiency and deliver change for businesses as part of the market-wide...

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12th June 2018

Towards a market-wide DA solution

London is increasingly reliant on delegated authority, but the challenges of moving data between all the players in the chain are becoming a serious impediment to DA’s continued profitability. Costs and competition are bearing down, even as old reporting systems creak under the strain of ever-increasing data requirements. The solutions...

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13th November 2017

LMA tackles £1bn claims expert spend

The LMA Claims Committee today announced that Advent Claims has been selected as a partner and vendor for its Claims Expert Management Hub for Lloyd’s carriers. The Lloyd’s market has spent over £1bn on third party experts in the past 24 months, according to data collected on behalf of the market. Advent...

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6th November 2017

Advent Claims partners with Principia Underwriting

Advent Claims, the insurTech-led Claims TPA, today announces it has signed an agreement to administer all claims for Aquila Underwriting-backed MGA, Principia Underwriting. Principia, which previously managed claims in-house, will implement Advantage, Advent’s proprietary claims management system, to manage claims arising under its 11 binders. Principia’s portfolio contains mainly professional lines...

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10th October 2017

Advent Claims establishes European operation to provide post-Brexit support

Advent Claims, the insurTech-led claims TPA, has entered into a partnership agreement with pan-European claims specialist Van Ameyde.  This follows similar joint ventures in the U.S., Canada and Australia which give Advent access to around 80% of Lloyd’s coverholders. The agreement with Van Ameyde completes Advent’s global network, extending its capabilities...

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7th September 2017

Endeavour partners with Advent Claims to support Lloyd’s coverholders in Canada

Advent Claims, the technology-led Claims TPA, today announces it has entered into a partnership arrangement with Lloyd’s broker Endeavour Insurance Services, the specialist binding authority broker placing contracts on behalf of international Coverholders /MGA's. Endeavour will implement Advantage, Advent’s claims management system that captures all information required by regulators, and...

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17th May 2017

Can we create a sleeker, leaner insurance model?

By Paul Bermingham Through coverholding, underwriting agents around the world have built longstanding and extremely beneficial relationships with carriers in Lloyd’s and the London wholesale insurance market. Delegated authority arrangements give managing general agents and other coverholders access to risk capacity with a broad and specialist appetite, and deliver high-quality, appealing risks...

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17th May 2017

Coverholder cliff-edge

By Paul Bermingham, Advent Insurance Management Implementation of Lloyd’s enhanced coverholder reporting requirements on 1 July is just weeks away. The market has known what to expect since August, but in the year since then few market participants have readied themselves adequately for Coverholder Reporting Standards Version 5. In short,...

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27th March 2017

Advent Law launched to cut claims costs

Advent Claims, the specialist claims consulting and outsource services provider, has launched Advent Law, an authorised alternative business structure (ABS) company, in partnership with law firm The Clarke Partnership.   Working alongside UK insurers’ claims departments, Advent Law will enable insurers to gain a tighter grip on claims handling costs amid a...

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20th March 2017

Advent Claims assists market in beating Solvency II and Lloyd’s Coverholder reporting challenges

Advent Claims* today announces considerable enhancements to its proprietary web-based claims management system Advantage to help beat the significant challenges associated with Lloyd’s Coverholder and Solvency II, Pillar 3 reporting. Available to insurers, Lloyd’s managing agents, coverholders and brokers, Advantage offers huge efficiency savings over manual processing being undertaken by many...

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21st November 2016

Advent Claims launches regulatory compliant Advantage claims platform

Advent Claims, (Advent) a division of Advent Insurance Management with claims operations in the US, UK, Canada and Australia, today announces the launch of Advantage: a proprietary web-based claims management system for MGAs and coverholders that captures all information required for current and future regulatory reporting. Advantage is designed to alleviate...

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16th November 2016

Time for action on coverholder solutions

As published by Insurance Day: Time for action on coverholder solutions By Paul Bermingham, Advent Insurance Management Rising compliance costs mean some managing agents will not be able to write some lines of coverholder business after July 1, 2017. Something needs to be done Perhaps Brexit will lead to relaxed reporting requirements for...

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27th April 2016

Reducing expense and complexity for coverholders

As published by Insurance Day: Reducing expense and complexity for coverholders By Paul Bermingham, Director And Paul Argent, Director, Advent Insurance Management There is an urgent need to address the challenges associated with regulatory reporting under delegated authority arrangements in the London market – one of the top three concerns for...

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11th February 2016

Adapting to endure: MGAs and the realities of compliance

As published by Insurance Day: 'Adapting to endure: MGAs and the realities of compliance' by David Hill, Managing Director of Advent Group, and Paul Bermingham, Director of Advent Insurance Management. The number of new managing general agent (MGA) businesses launched in recent years is a testament to the model’s enduring popularity. MGAs, as...

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18th January 2016

Advent Insurance Management appoints ex-CMGL founder & CEO

Advent Insurance Management (Advent), the specialist provider of support services for delegated authority underwriting businesses and global claims TPA services, today announces the appointment of Jerry McArthur who, after completion of his notice period, will become Chief Executive.   Jerry joins Advent from FTI Consulting where he founded and led its...

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27th September 2015

Advent Insurance Management continues global expansion with Australian joint venture

Advent Insurance Management (Advent), the specialist provider of support services for delegated authority underwriting businesses, today announces it has established a presence in Australia. Advent has entered into a joint venture agreement with Sydney-based regulatory and outsourcing services provider Littlewoods Services. Advent has jointly formed a new company with LWS: Advent...

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15th September 2015

Advent Insurance Management appoints Paul Argent

Advent Insurance Management (Advent), the specialist provider of Third Party Administration (TPA) services for delegated authority underwriting businesses, today announces the appointment of Paul Argent who joins Advent as a Director. Paul was the founder of specialist insurance consultancy Argent Business Solutions, a well-established business with a proven track record of...

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7th September 2015

Advent Insurance Management establishes operations in Canada

Advent Insurance Management (Advent), the specialist provider of support services for delegated authority underwriting businesses, today announces it has entered into a joint venture agreement with specialist claims adjusting business Canadian Claims Services Inc. (CCS). As part of the formal partnership with CCS, a new company has been formed in Canada...

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19th August 2015

Advent Insurance Management establishes nationwide US presence

Advent Insurance Management (Advent), the specialist provider of support services for delegated authority underwriting businesses, today announces it has established a presence across multiple locations in the US. Advent Insurance Management, part of specialist insurance consulting and outsource services provider Advent Solutions Management, was launched earlier this month to help delegated...

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Twitter

Monday's @insurance_day special report on regulation will feature @advent_claims Paul Bermingham's article on makin… https://t.co/B1x6zgXVW4
06-09-2017
Blame inertia, not regulation: the theme of @advent_claims Paul Bermingham's article in today's regulation special… https://t.co/jgtmtC4mod
01-09-2017
In case you missed it, read @advent_claims Paul Bermingham's @insurance_day article on sustaining and enhancing… https://t.co/azf6RXeTEm
13-08-2017
RT @EndeavourEIS: By removing duplication & re-keying, claims notifications are delivered straight to @LloydsofLondon without delay https:…
25-07-2017
Read @advent_claims Paul Bermingham's #blog: Abandon bordereaux for a competitive Advantage https://t.co/nZRemJDl0N
22-07-2017
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