Fidentia

Fidentia is our solution for the management of Managing General Agents (MGAs) the Insurance Industry.

In addition to the comprehensive audit and risk support in our underlying HydraGRC platform, it provides the following functionality:

MGA Management

End to end strategy management solution supporting effective risk based decision making at Insurer level in managing portfolios from onboarding to day-to-day management.

MGA Onboarding

Assesses the suitability of agents in line with the insurers risk appetite Focusses on strategy, conduct risk and core underwriting principles Approvals vis Governance before formalising the binder agreement.

MGA Business-as-Usual

Monitoring of agents performance in terms of risk appetite and management tolerances A key qualitative input into the ORSA process.

MGA Auditing

Internal audit management system aligned to risk category Remote audits and MGA self-assessment improves efficiency and reduces cost.

Controls Monitoring

Proactive monitoring of MGA adherence to key controls and compliance expectations Supporting the identification of individual and systemic control issues. Identification of individual and thematic issues.

Capital

Provides monitoring of the potential capital effect relating to deviations to the risk profile.

Action Plan

Consolidated action plans across the organisation, external auditors and Coverholder/MGAs.

Reporting

Increase auditor efficiency by generating draft audit reports on demand.

Business Intelligence

BI based on audit, control and business as usual results. Integrated support for Business Intelligence tools.

GDPR

GDPR readiness assessment. Project plan. Follow up based on a specific skillset Monitoring the progress of the plan On going compliance monitoring.

Secure

Cast-iron security to ensure peace of mind including encryption and rights and roles management.

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