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ADVENT INSURANCE MANAGEMENT LAUNCHES CONSULTANCY DIVISION

June 13, 2018: Advent Insurance Management, the InsurTech-led Lloyd’s and 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 transformation effort.

Parminder, who will report to board director Paul Bermingham, has led and supported major IT and business transformation programmes in the Lloyd’s and London market for almost 20 years. Designing end-to-end business operations for many major insurers, she also led the analysis and design of a global insurer’s transformation programme across 40 countries.

Advent Insurance Consulting has been launched primarily to meet demand for expert assistance from broker, carrier and coverholder customers of its three other divisions: global claims TPA services, back office services and technology.

Paul Bermingham said: “Huge sums are being spent on consultants at a time when rates are flat or falling, and acquisition, claims and compliance costs are rising. There has never been a greater focus on operational efficiency, yet many change projects are failing due to high consultancy costs, a lack of consultant knowledge or the solutions recommended being uneconomic. We are pleased to announce Parminder’s joining as a co-founder of Advent Insurance Consulting. She joins a team who, like her, are seasoned market practitioners, focussed on enabling much-needed change in the market with a service that doesn’t just highlight issues but recommends solutions, enables implementation and delivers a much quicker return on investment to our clients.”