IT Solutions for The Insurance Sector
Northdoor has 30 years of experience in the insurance industry, helping clients of all sizes—from start-ups to large corporates—to manage significant business change. Our consultants have an in-depth understanding of the insurance sector, which allows us to deploy our technology capabilities to great effect.
In addition to our key technology capabilities, we also offer a portfolio of business applications which can be tailored and configured to precisely fit each client’s needs. These applications support Insurance Broking, Insurance Underwriting, and Insurance e-Business. Further details of these offerings can be found at our NdexInsure site.
Northdoor won the ‘Best use of IT in Insurance’ category of ‘European IT Excellence Award’. To support Ark Syndicate Management’s start-up in insurance, we set up NdexInsure in 11 weeks, allowing Ark to gain FCA approval.
Capability: managed services and consultancy built on decades of London Market experience
Northdoor has a formidable reputation in the insurance sector and we continue to lead the market for IT Insurance Solutions. Our applications are built in contemporary technologies in line with industry best practices and can be deployed either on premises or as cloud-based SaaS solutions.
Our consultants have a unique combination of technical competency and business understanding across broking and underwriting in the London Insurance Market, General insurance and Life markets.
We are playing a pivotal role in the world of artificial intelligence, with a key focus on cognitive analytics within the London insurance market. We are also experts in data protection: we offer world-class consultancy around GDPR compliance.
We also help the City’s financial market to industrialise their actuarial applications. Our work improves actuarial efficiency, control, visibility and overall performance.
Read our white paper on how to overcome the challenges of pricing and monitoring the risk for cyber security insurance policies.
Find out what we do for our Insurance clients
Our reputation in the financial market is perhaps best illustrated by our ACORD ‘Global Reinsurance and Large Commercial Round Trip of Data Accomplishment’ award. This was awarded for the e-endorsement functionality in NdexInsure which allows data to be exchanged in a structured format using standard messaging from industry standards body ACORD.
Adrian Morgan Executive Vice President and Head of AdvantageGo at NIIT Technologies
Nick Bonnar Director of Underwriting
Tom Corcoran Managing Director
Eva Schwander Chief Operations Officer
Compliance Manager Faraday
David Shipley Underwriter of Syndicate 2791
Les Agambar Solutions Architect
A Lloyds of London Insurance Company Head of IT
Paul Donovan Head of IT
The RiskXchange Insurance Industry 2021 report
With the recent acceleration of remote and digital working practices in the insurance industry, along with an associated increase in cyber crime activity, managing the risk of cyber threats and reducing the impact of breaches should be a top priority for UK insurance organisations of all sizes, from small businesses to FTSE 100 corporations.
Following on from our 2020 insurance industry report, Northdoor has again partnered with RiskXchange to conduct an in-depth benchmarking exercise to help organisations in the insurance industry understand their own cybersecurity risk. New to the 2021 report is a section covering the cyber risk posture of the Lloyd’s / London market shared services providers.
The resulting report from the RiskXchange software provides a transparent view of the UK insurance industry’s current readiness to defend data and systems from cybersecurity threats.
While the overall picture is reasonably positive – with surveyed companies averaging around 760 points out of a possible 900 – there are a number of fairly serious shortcomings that the industry needs to address. For example, 54% of brokers score a D on email security, 25% of coverholders score a C for encryption, 21% of carriers score an E when it comes to network services security and 19% of shared service providers score a D for application security.
To see how your industry peers are faring when it comes to cybersecurity – and to benchmark your own organisation’s performance against them – please read the attached Northdoor and RiskXchange Cyber Risk Assessment of the UK Insurance Industry. The report includes seven key recommendations for improving your scores and securing your business against cyber risk.
Cyber Risk Assessment of the UK Insurance industry Benchmarking Report 2021
Insurance Related Blogs
Dealing effectively with Ransomware and Malware attacks in the real-world
Northdoor comment: 2021 has seen some high-profile breaches such as Serco and British Mensa.
Prioritising Lloyd’s minimum standards for cyber third-party risk management
Blueprint 2.0 and the pandemic has also pushed the London market to engage digitally across the supply chain meaning that third party security is more crucial than ever.
Cybersecurity in the insurance sector: what are the issues and how can you protect your business from attack?
Richard Jefferies explains the cyber threats in the insurance industry.
Risk Assessment For Cyber Insurance
Organisations need to look at fast, acccurate, efficient pricing and risk assessment for Cyber Insurance Policies. AJ Thompson, Professional Security Magazine
What is the London Insurance Market telling us?
Key Topics That London Market Insurance C-Level Executives Have Been Discussing At Some Events Of Multinational Insurers.
Financial Sanctions Checker Role within Insurance Software
Sanctions Checker is an insurance software that helps businesses comply with financial sanctions. Click here to find out how it can be integrated into your IT systems
Do insurers really understand their own exposure to cyber threats?
While insurers may help their clients prepare for the unexpected, they are not all doing the same when it comes to their own cyber risk strategies.
Getting to grips with cyber risk in the insurance industry
By providing insurers with crucial insight & recommendations, Northdoor shed light on how the insurance industry can improve their security posture.
Leading Change to Realise the Benefits of Insurance Market Modernisation
The challenges and key findings discussed at round table event to realise the benefits of market modernisation within insurance with industry COOs.
Webinar replay: UK Insurance Industry
Cyber Risk Assessment Report 2021
Watch the recorded webinar here:
Cyber Security Governance:
Latest Trends, Threats and Risks
Watch the recorded webinar here: