Insurers

Get what you need from our comprehensive solution for the rapidly growing Risk Transfer market.

Leading the way in the booming risk transfer market

The Risk Transfer market is seeing record growth every year. Defined Benefit pension schemes and risk transfer transactions are complex.
You need to be competitive in your pricing and efficient through the bid process and when taking on new clients.

Once schemes have passed to you, trustees demand good member outcomes and high levels of customer care.

Transforming risk transfer with advanced technology

Spence leverages streamlined processes and technology to bring a simpler more efficient delivery of core services.

The traditional ‘Old World’ model has failed to develop and is causing back log and escalating costs. It is a fragmented process with data moved between various systems.

This results in:

lack of automation
overuse of spreadsheets
data manipulated off system
basic tasks performed by overqualified resource

At the heart of Spence’s bolder ‘New World’ proposition is a single system, Mantle, for pricing, administration and valuations.

This single integrated approach gives you full access to liability value positions updated daily, directly from administration data and accessible at any time at no additional cost. Accounting is simpler and more transparent with updated accounting positions every day.

BPA MARKET NEW ENTRANTS

An out the box solution

Traditional vs Boxed

Spence has developed a tried and tested ‘out of the box’ solution for new entrants to the BPA market. Compared to the traditional entry model our boxed solution gets you to market quicker with less risk.

Upscaling and building operations involves various challenges, including the need for diverse skills, managing multiple activities concurrently, and addressing recruitment lead times.

Additionally, talent acquisition is both difficult and costly.

On the other hand, market perception and trustee due diligence emphasise the preference for tried-and-tested methods, with a cautious approach towards unproven administrative practices.

In a traditional approach, the “Boxed” solution offers a quicker route to market by utilising established solutions.

This approach allows for flexibility in evaluating operating models later, reduces sunk costs by tapping into external technical expertise, and mitigates recruitment risks.

The “Boxed” solution also involves recruiting only key roles and creating a model office of seconded expertise, fostering an in-house atmosphere and providing a favourable environment for recruits.

Key operational decisions are deferred, enabling the adoption of solutions accepted by other trustees without committing to long-term outsourcing.

Insurers

Leading the way in the booming risk transfer market

Transforming risk transfer with advanced technology

An out the box solution

Traditional vs Boxed

Meet our Insurer Services Team

Want to hear more from us?

Let’s Talk