Marine Insurance

IT Audit - Shaping The Future for Marine P & I

Our client 
Our publicly-listed, London-based client acts as the managing agent for a mutual assurance company. Known as a P&I club, they specialise in providing protection and indemnity insurance for marine clients.

Our challenge
The Marine P&I industry tends to refresh IT systems every 10 to 15 years. Yet when looking to develop a clear roadmap for the future, the business and IT departments operating in this domain are often constrained by their day-to-day responsibilities. Crimson on the other hand is in a position to take an independent view. Drawing on in-depth knowledge of the current IT marketplace, our team is ideally placed to help clients make more informed decisions.

Our approach
Our team was able to tailor an audit to the specific customer needs which presented a detailed set of questions across the following key areas:

• Business processes
• Key System functionality
• Current system weaknesses
• Key business drivers
• Existing IT estate
• IT vision

The audit followed established Crimson protocols to ensure consistent results. The audit is delivered to the agreed return date with any issues raised that require further feedback. On-going consultation and follow-up continues to the point where our team has a detailed understanding of all issues. The agreed information can then be analysed with confidence - drawing on a genuine understanding of the client, allied to Crimson’s knowledge of good practice in the industry. The findings of the audit are then presented with various solution options and next-step recommendations. Of course, our client is left with a final copy of the audit.

Our client’s success
In a short space of time, our audit process has enabled our client to review their current systems’ capabilities, short comings and IT estate. Reassuringly, the output confirmed many of their own conclusions but additional value was delivered as the report opened up many additional areas for investigation and further consideration.

Can Crimson help with your unique challenges? Talk to people who get closer to issues to make a difference - call 01675 466 477 or email us.