Law South finds a trustworthy solution to help them harness their insurance and risk management data

Without access to accurate and relevant data, businesses will find it difficult to continue delivering value to their clients. Our client, Law South, understood this better than most, as they engaged Circyl for help updating their outdated Insurance solution.

Consisting of twelve high-profile law firms based in London and the south of England, Law South, via a captive insurer owned by the members, is responsible for providing the initial layers of Professional Indemnity insurance to its members. The captive insurer manages insurance claims and insurance data on behalf of its members.

Of course, handling data for twelve different businesses requires a lot of care and attention, as well as a modern system that is capable of transforming masses of information into important insights, so that Law South can help firms successfully manage their ongoing affairs.

For this reason, Law South and its captive insurers felt it was time to review the existing technology and implement a new modern solution that would improve operational efficiency, particularly from a data collection and storage perspective.

Time for a change

The historic system lacked flexibility and did not include risk management, with risk management data captured separately within numerous spreadsheets.

Prior to engaging with Circyl, Law South and its captive insurer had tried to replace the system with an off-the-shelf solution, however, despite being given assurances that this could be modified to accommodate the complex needs of the insurance programme, this was never achieved. Law South withdrew from the contract and reverted to the historical system.

One of the biggest issues with the proposed solution was a twice-yearly update cycle, which raised serious concerns over the system’s vulnerability, especially given its importance in storing and managing sensitive data and information.
The proposed new solution never delivered as promised and Law South withdrew from the contract and reverted to the historical system.

This meant critical data was not being harnessed in the way it needed to be, ultimately impacting Law South’s ability to deliver value to its members.

“We knew the time had come to update the outdated Insurance solution, and we’re very pleased with the excellent system Circyl have delivered. We know our data continues to be accurately captured and stored securely."

- Patricia Wong
Group Risk Manager, Law South

Implementing a modern solution

Following discussions with the Law South team and its captive insurers, an initial review of the existing data management process, it was decided that a new solution based on the Microsoft Dynamics platform, with Power BI for visualising data, was needed to address the issues they currently faced.

By carefully integrating Dynamics 365 and Power BI, Law South and insurers would have access to a single solution that combined both insurance and risk management data in a central location, providing the flexibility needed to reflect the structure of the insurance process.

Overhauling the outdated system and implementing a new, agile solution would give the tools needed to harness data appropriately for Law South to help the member firms manage risk more effectively.

Throughout its delivery, Circyl were also on-hand to help the team transition smoothly, ensuring employees knew how to work the new system.

Ultimately, this new Insurance and Risk Management solution restored the firm’s trust in its own technology and processes, offering a user-friendly, intuitive and easy-to-use solution that would help in the identification of trends and provide a solution that would evolve with its members.

The key to future success

Once a company loses faith in the technology and systems at their disposal, then the daily flow becomes disrupted and opportunities are lost through logistical headaches.

Not every business will understand the intricate workings of their technical solutions, which is why they approach firms, like Circyl, to help them find a system that meets their unique requirements and enables them to overcome the challenges ahead.

It’s been well-documented, that businesses who successfully manage, harness and store their data will unlock a wealth of potential opportunities they are yet to discover. Data is the key to future success, and without it, the gateway to growth will remain locked.

All technology has an expiry date, and although it may seem daunting at the time, upgrading your existing systems could make a significant difference to the results you deliver.

Now, instead of uncertainty Law South and its captive insurers have understanding, as their new Insurance and Risk Management solution ensures they have total control of their data.

Technologies utilised

During the project, Circyl leveraged the following technologies:

Tech_powerbi

Power BI: Power BI is Microsoft’s cloud-based enterprise and self-service analytical solution that provides data modelling and visualisation capabilities across a range of data sources. 

“Law South were experiencing issues with the previous solution, and understandably, this had knocked their confidence. Therefore, it was important we not only delivered the solution they needed, but one that inspired confidence in the data, so they could move forward positively and implement business-enhancing change.”

- Andrew Morgans
Technical Director, Circyl

Want to know more?

Circyl offer free consultations to allow businesses to discuss their productivity issues and ask us in-depth questions about our services and pricing.

Call 03333 209 969 to speak to a member of our team directly or send a message by filling in the contact form here.