aws-admin, Author at Pro Global

In this article, we outline a suggested roadmap that insurers can use to achieve complete cash clarity.

The underlying structure of an insurance business can create an unallocated cash problem, through:

There are 3 clear steps that will help any insurance business gain control of unallocated cash, streamline operations and generate business growth.

The first step to gaining cash clarity is to resolve it. The backlog should be categorised and prioritised and unallocated cash accounted for, with ongoing monitoring and reporting to evaluate progress. Legacy issues that caused the unallocated cash should be identified as part of the ongoing monitoring.

It is often necessary to create a ‘mapping’ strategy that matches up all balances with their origins and reconciles them. Implementing a mapping strategy properly can allow even the largest backlogs of unallocated funds to be identified and resolved.

It is vital that an organisation has a systematic approach to cash management across all departments involved in cash inflows, outflows, and reconciliation.

This step involves implementing a resilient monitoring and reporting structure along with revised procedures to prevent future unallocated cash and to ensure ongoing control. In addition to preventing the unallocated cash challenge from reoccurring in the future, a proactive and systematic approach to resolving it will also improve overall liquidity.

Clearing a backlog of unallocated cash in insurance is the biggest challenge – there is no “one size fits all” solution to actually allocating the cash. In most cases, cash has not been accounted for because of an undetected problem which cannot be identified without looking into each individual piece of cash.

While all of these themes can be identified and “blocks” of cash cleared, very often there are individual reasons which can be simple to solve, such as cash being allocated to the wrong instalment, which prevents subsequent cash being allocated.

Causes, however, can also be technically complex to solve; for example, when net payments are made to clear multiple premium and claim transactions and there are incorrectly processed technical transactions, RoE differences and tax issues. Each piece of unallocated cash therefore has to be investigated individually to resolve it.

With unallocated cash now being resolved, new processes and procedures to prevent future unallocated cash should be devised. Business unit agreement and ownership should ideally be assigned and new practices implemented.

Investigating unallocated will identify some procedures that just need tweaking; however, there may be some deep-seated procedural gaps to address and system amendments may be required.

This will require strategic thinking, because even simple changes may need to be implemented across multiple business units. Focusing on the following areas would be a great place to start:

As part of procedural change, responsibility for unallocated cash monitoring and reporting should be clearly defined. Where lack of resource or inexperienced resource is identified as a cause of historic unallocated cash, additional resource or training should be considered to maintain BAU, whilst removing unallocated cash from the balance sheet.

Systems generated reports that can be used for unallocated cash monitoring should be identified. Where these are not available, IT support may be needed to produce this reporting.

Through regular review of these reports, insurance businesses can monitor their re-modelled processes and make any necessary adjustments to ensure operational resilience, as well as ensuring the ongoing effectiveness of the process.

Being proactive with unallocated cash in insurance helps boost cashflow and streamline operations going forward. Resilient monitoring and a reporting structure should be implemented, along with revised procedures to prevent future unallocated cash from occurring.

Following initial changes in processes, management and communication of new BAU procedures, the following outcomes should be in place:

The above 3-step approach involves effective management of resources and a robust strategy. Having said that, once the plan is implemented, insurers can rest assured that the problem of unallocated cash is solved.

Head of Specialty Claims at Pro Global Michael Mackenzie shines the spotlight on ongoing immunotherapy research for treating mesothelioma, and the potential impact on asbestos related legacy claims.

There is mounting evidence that immunotherapy is effective in extending life expectancy for mesothelioma sufferers. Immunotherapy is an established, NICE-approved cancer treatment that stimulates the cancer patient’s immune system to kill mesothelioma cancer cells. This treatment has been successful for other cancers and is currently in clinical trials for its potential to treat mesothelioma.

With as many as 2,500 people facing a mesothelioma diagnosis in 2021, and thousands more already diagnosed, any advancements in treating and extending life expectancy for sufferers is welcome for individuals, families and society.

In February 2019, what is thought to be the first judgement on the issue of periodical payment orders (PPOs) as a mechanism for funding future immunotherapy in mesothelioma claims was handed down. The ruling was a clear signal to the insurance sector that the funding for immunotherapy treatments is covered by legacy insurance policies.

There are a number of considerations for insurers monitoring their EL / PL legacy books. Mesothelioma claims account for significant liabilities in the legacy space, and here are three key considerations that insurers and those carrying these legacy liabilities need to focus on when assessing their exposure and future claims:

Treatment options – immunotherapy looks set to become a mainstream treatment option for Mesothelioma. There are many factors which determine whether immunotherapy is a suitable treatment option and each case must be considered on its individual merits. Whilst standard principles can be applied to all claims, it is essential that insurers and their legal teams are aware of the various factors and characteristics of each case which can be balanced to determine the appropriate treatment options so as to ensure that indemnity spend is managed effectively. An example could be an offer to the claimant to take part in clinical trials for new anti-cancer agents. Strict criteria are set for the inclusion and selection of candidates – however, if selected, the cost of this treatment is covered by the study sponsor. Another example would be to ensure that the patient is suitable for any private treatment options being explored, medico-legal evidence can be secured to ensure the patients performance markers are such that immunotherapy and other emerging treatments are suitable treatment options.

Impact – those patients who have received a diagnosis can secure immunotherapy treatment privately and those relevant costs can form part of their civil claim, with significant implications for claims costs. Experience shows us that when patients opt to seek private treatment, say for immunotherapy, this can lead to all of their treatment moving into the private sector. The cost implications for insurers are significant and it is essential that insurers understand these implications and re-calculate their reserves according. A recent development has been claims for combined therapies such as dual drug immunotherapy (i.e. ipilimumab and nivolumab) and the decision on single or double drug treatment will ultimately rest with the treating oncologist – with the cost being borne by insurer clients.

Funding – various funding mechanisms are possible, however the funding arrangement adopted can also have significant cost implications. Insurers must be aware of the various funding options, and work with the Claimant’s legal representatives to agree and put in place appropriate arrangements, ensuring that those who wish to can access the most effective treatment in a timely, efficient and cost-effective manner. In addition, Pro has developed relationships with various treatment providers directly that deliver cost benefits to clients while expediting the treatment authorisation process for the claimant.

Please get in touch with the experts at Pro for more information.

Get in touch

To speak to the Pro Global team please feel free to reach out to us at:

+44 (0)207 068 8000

getintouch@pro-global.com

London, 7th June, 2021: Global re/insurance outsourcing and consulting specialist Pro Global Holdings Limited (‘Pro’) has announced the appointment of Ceri-Siân Williams who joins the team in a non-practising role to oversee the investigation and management of abuse and care claims.

Pro is a leader in handling and resolving complex abuse and care claims. Ceri-Siân’s appointment further reinforces its commitment to invest in the expertise required to provide the market with innovative solutions and proactively address emerging trends both from a claims and legal perspective.

Ceri-Siân joined the Pro Global team in April 2021, having worked as a private practice solicitor for 16 years, where she specialised in abuse and social care claims, representing primarily local authorities.

During her career, Ceri-Siân has taken on multiple senior responsibilities, as well as delivering training and seminars to her team and clients. Her appointment is a fantastic addition to the Pro team and represents a significant commitment to developing its complex claims expertise.

In her new role at Pro, Ceri-Siân will work closely with Pro’s senior leadership team, Mike Mackenzie (Head of Speciality Claims) and Alan Metzger (Head of Strategy – Abuse and Care claims), to help inform and shape the group’s strategy in its consulting and management of challenging and sensitive claims on behalf of re/insurers.

Ceri-Siân Williams, Pro Global Legal Counsel – Specialist Claims, said:

“I am delighted to be joining the experts at Pro and am looking forward to bringing my experience to the challenge of managing complex specialty claims, which require dedication, rigour and a proactive mindset to resolve. My career to date has led me through a number of complicated cases, many of which were multifaceted and highly sensitive. Having such an in-depth understanding in the area of complex claims will be of paramount importance in my new role at Pro, and I look forward to helping the team continue to deliver fairness for claimants and value for our re/insurer clients as we grow within this specialist field.”

“Ceri-Siân’s appointment adds significant strength and depth to Pro’s growing capability as a leader in managing and consulting on abuse and care claims. As an experienced legal practitioner who has specialised in abuse claims for many years, Ceri-Siân is perfectly placed to take the lead on management of these complex legal issues, and to keep pace with the unfolding legal framework surrounding such claims. I’m certain that Ceri-Siân will prove pivotal in helping educate and guide our re/insurance clients as to the most proactive, efficient and fair methods of managing such claims within an evolving legal environment.”

Pro is a leading international consultancy and service provider that focuses on delivering flexible outsourcing solutions for live and run-off business, operational consultancy and audit services exclusively to the global insurance industry.

Founded in 1993, Pro has some 160 clients spanning the global insurance market, including insurers, reinsurers, brokers, lawyers and corporate investors.

The company has over 500 employees around the world, with recent geographic expansion in Germany and North America. Pro has offices in London, Cologne, Zurich, New York and Buenos Aires, all supported by regional delivery centres, enabling Pro to act for clients across multiple markets, cultures and territories.

Mike Dalzell, Head of Group Assurance, Pro; Joe Perdoni, Head of Prudential Regulation at the Gibraltar Financial Services Commission (GFSC); Kathryn Morgan, NED, Marshmallow & Soteria Insurance; and David Woodfine, Managing Director, Cyber Security Associates, shared their thoughts on regulation and compliance in relation to the GFSC and Financial Conduct Authority (FCA) supervision strategy, and how audits can help when approaching the key drivers for harm

Against the backdrop of economic uncertainty, Brexit and the pandemic, the insurance sector is facing intense scrutiny from central banks and regulators; the focus being financial and operational resilience.

In the UK, the FCA has set out three key areas of risk; these are ineffective governance and oversight, culture and non-financial misconduct, and ineffective insurance distribution chains. A similar emphasis on operational resilience is reflected in Gibraltar, where the focus is on business plans, capital, company group governance, and conduct risk.

At the outset of the discussion, Joe Perdoni highlighted the outcome that the GFSC is focused on. “The outcome we want to achieve is the authorisation and supervision of well run, appropriately governed, sufficiently capitalised and sustainable insurance businesses that possess consumer centric attitudes, ensure customers are treated fairly & deliver good outcomes for these customers.”

Mike Dalzell echoed this. “If the last few years have taught us anything, it’s that the FCA has rightly set high expectations of how insurance firms should be mitigating these risks. And with moves towards tougher regulations in these areas, companies will need to ensure they have robust processes in place or face possible investigations and enforcement.”

Kathryn Morgan highlighted the need for operational resilience to be a boardroom topic. “Without measurement, you simply won’t know what is going on at a business. There is a strong case for continuous learning and improvement across all aspects of a business, including outsourcing arrangements, and fostering a culture of regularly checking against priorities and using failure / missed targets as an opportunity to learn is critical to modern businesses.”

The panellists also noted that regulators were increasingly drawing cyber security into the operational resilience framework. Regulators want to understand how a firm is organised to look at cyber risks and what mitigants they have in place. David Woodfine highlighted that cyber security is too often regarded as an IT problem, when it should be an integral part of a firm’s operational resilience strategy.

“A lot of companies just expect technology, like firewalls, to solve cyber problems, when in fact, people are the first line of defence,” David said. “They are the ones who receive the phishing emails, so you need to look at how you are preventing and preparing for these attacks. This should be a priority, and regulators are rightly increasing the focus on the area of cyber security.”

Developing a robust risk framework – and therefore a strong operational resilience – is all about good governance; and to achieve this the panellists were clear that there is a need for regular, independent audits that are performed with a mindset of extracting value and learning, rather than performing a box ticking exercise. Audits highlight inefficiencies and mitigate risks, but their success depends entirely on whether companies actually follow up on recommendations – and put right what is wrong.

“Internal audits are a valuable tool and keep people on their toes,” Joe said. “Audits can identify inefficiencies, and if you have a fluid audit plan, it will allow you to add in any new risks that are identified. From a regulatory perspective, this is something we expect to see.

Audits are vital in highlighting risks; however, there tends to be a reluctance by firms to carry them out, and as a result, few realise their full potential.

“Audits aren’t a punishment,” Kathryn said. “It’s about holding up a mirror so you can see what works well and what doesn’t – and then fixing those areas. Many regulatory requirements are common sense, but you need to be able to demonstrate that you know what you are talking about.”

Dave agreed, “Cyber risk is an ever present, ever changing risk to firms – and no-one can consider themselves immune. To my mind, independent cyber security audits should be conducted more regularly than standard financial / strategic audits due to the evolving nature of the threat, and the potential serious repercussions of a successful attack from a business and regulatory perspective.”

This level of insight is key. As Joe pointed out, a successful audit isn’t just about a review of your operations, it’s about understanding what the issues are, planning what you are going to do; and then implementing it.

“From a regulatory perspective, if we see that firms are looking at ways of addressing any issues, it gives us comfort that they are trying to do the right thing – as opposed to just sticking their heads in the sand and hoping it never happens,” Joe said.

As the panel agreed, an element of ‘hope’ just isn’t enough when it comes to mitigating risks; which is why audits are so important. But getting real value from your audit comes down to company culture and attitude.

During the Q&A session, the panellists were asked whether audits were an unnecessary evil.

Kathryn said, “Yes it is an unnecessary evil if it isn’t done properly – businesses can waste a lot of time and money just ticking boxes, not thinking about the value they could be extracting from the process. So if you do that then it is an unnecessary evil but if you do it properly then it’s brilliant.”

Joe’s response summed up the view of the panel and provided an inspiring closing thought, “I was going to flip it around and actually say it’s a necessary benefit – audits are the key to evidencing operational resilience, enabling continuous improvement.”

Audits can be an effective way for insurers to have oversight of the delegated outsourcing arrangements (Coverholders & DCAs/TPAs.) The pandemic has shown us that remote audits are possible, but that they come with their own challenges. In theory, the fundamentals haven’t changed: audits are still conducted in real-time, and they still require planning and preparation, followed by high quality reporting and a clear set of actions.

Ideally Coverholders / DCAs / TPAs will provide read-only access to their systems during a remote audit to ensure that the file review process runs as smoothly as possible. Having encountered issues with multi factor authentication and having to navigate unfamiliar systems however, this is not without issues. Where systems access is not possible, Coverholders will instead upload documentation onto a portal. Invariably missing data or incomplete file structures result in the reviews taking longer than if we were onsite.

Despite these challenges, remote audits offer opportunities; the most recognisable being the ability to audit without having to travel. For clients, this new way of working has brought about more than just flexibility, it has saved travel time and costs.

But the advantages don’t stop there. By making remote audits as efficient as possible, Coverholders can demonstrate the value they add to their underwriting partners; and, with this new era upon us, adding value has never been more important. Only because an audit is remote doesn’t mean the work is any less stringent. Insurance audits still require the Coverholder to have all their protocols in place; from preparing documents to briefing individuals for interview purposes. In short, by Coverholders getting all their ducks in a row, they can save time – and therefore costs – for their partners.

The preparation and pre-audit process is central to the remote audit process to ensure auditors have access to the right people at the right time and all data / answers to queries are provided in a timely manner. Therefore, strong communications and project management are key to a successful audit, preferably with all stakeholders having a designated contact throughout the audit process.

The use of online secure data portals and video technology again facilitates the sharing of data and helps build trust during the audit process. Whilst video technology can’t wholly replace onsite interviews (as auditors are unable to fully pick up on the softer cues or assess physical office environments), it is definitely more effective than undertaking telephone interviews. We have also used video technology to file share with Coverholders if system access is not available.

We believe that even in a post Covid-19 world, the majority of audits will continue to be conducted remotely, with the market moving to an onsite/ remote hybrid approach.

Of course, much will depend though on the individual characteristics of the Binding Authority such as the class of business, limit size, the amount of premium being written, profitability and whether Underwriters have any issues or concerns with the way in which the Coverholder are managing the facility.

Covid has certainly fast tracked the advent of greater home working and this particular sector of the insurance industry is well suited to taking full advantage of improvements in technology and streamlined data flows to benefit from the efficiency gains that remote audits bring.

London, 25 May 2021: Global re/insurance outsourcing and consulting specialists Pro Global Holdings Limited (‘Pro’) has announced the appointment of Lorraine Mojica as its new US Head of Audit.

Previously Assistant Vice President at Northshore International Insurance Services, Lorraine has extensive claims expertise and more than 20 years’ experience in the insurance industry.

Throughout her career, Lorraine has delivered technical insurance consulting services, operational reviews of delegated underwriting authorities, and insurance and reinsurance claims reviews of third-party administrators for Lloyd’s syndicates and the London Market.

Based in the US, Lorraine will focus on growing the Pro US audit practice for both the London market and US domestic insurers.

“I am delighted to be joining the team at Pro and putting my extensive industry knowledge base and experience to good work helping clients achieve efficient, accurate audits across operations. Guiding the team as it grows throughout the London and US domestic markets will be an exciting challenge, and I look forward to working proactively as we take on the next chapter in Pro’s ambitions.”

“We are thrilled to be welcoming Lorraine to the Pro audit team. With a proven expertise in audits, claims and business management, Lorraine is an excellent addition to our current audit and claims advisory team. In particular, Lorraine’s expert knowledge of the Lloyd’s delegated market and audits is a vital asset, against the backdrop of an ever-changing regulatory environment and increasing numbers of delegated relationships. Audit, risk and compliance have never been so important – we are excited to see what this future expansion will bring.”

Founded in 1993, Pro has some 160 clients spanning the global insurance market, including insurers, reinsurers, brokers, lawyers and corporate investors.

For too long, cash management has been seen as an unglamorous and non-urgent issue for an industry that benefits from strong cash flows due to its premium-driven nature.

However, a culture of inefficiency – and at worst complacency – has led to some re/insurers to stumble across significant volumes of unallocated cash on their books, some of which date back many years and over different classes.

The implications that having such large volumes of cash received but unapplied on the books can easily snowball. And the effect can be compounded by the current ultra low interest rate environment dampening investment returns and exacerbated by the increasing claims payouts across all classes.

The reality is that having large unreconciled positions on the books can lead to auditing failures, damaging client relationships and, ultimately, the reputation of the business in question and potentially the industry as a whole. It’s far from an ideal scenario in an environment of higher regulatory and media scrutiny.

When looking into reasons behind unallocated cash issues, it is often the case that multiple causes are discovered. Some of these can be simple to identify, such as manual cash to ledger matching, incorrect technical processing, or tax refunds from underwriters.

Structural causes, however, can be more technically and procedurally complex to solve, but potentially have a far more wide-ranging impact on the overall liquidity position of a re/insurers business.

There is no ‘one size fits all’ solution to actually allocating the unmatched cash, but here are some tips:

To solve this headache once and for all, a structured approach across an organisation that encompasses all parts of the business involved in cash inflows, outflows and reconciliation is vital. Not only will an ongoing proactive and focused approach to addressing the issue avoid the unallocated cash challenge from re-building in the future, but it will also keep the company finance director smiling as it will improve overall liquidity going forwards.

If I was to provide a single observation about the UK Employers’ Liability and Public Liability market it would be this: it is competitive. The legacy market has consolidated significantly in recent years and that consolidation creates significant opportunity for our business. To thrive in this space, we need to differentiate ourselves from the competition. We need to scale up and focus, add value to our offering, and ultimately, we need to be the best.

Given our recent growth, and the additional scale that we are now able to leverage, we are in a position to consider and redefine what will make the most effective operating model across our UK claims vertical. My initial focus has been on reorganisation of the claims vertical to deliver a greater focus through increased specialisation of resource, whilst ensuring we are able to provide development pathways for our team. For H2 and beyond, our focus will be on technology; on driving increased efficiencies and strengthening controls through the development of smart system automation, and removing administration from the claims process.

But first we need to identify how we can add further value through the power of big data; in particular, by harnessing the power of data analytics to identify trends, track performance and drive better outcomes.

The aim of all this work is to create a market-leading software to support our team in adding the greatest possible value to our clients

At Pro, there has always been a passion for helping people progress and has a proven track record in the UK EL/PL space. Our ambition is to be the best in class, the market-leading claims proposition and supplier of choice for those organisations that seek to develop strategic partnerships that enable them to focus on their core functions. Whilst this won’t happen overnight, through the ongoing training and development of our people, we can achieve these ambitions.

Reorganisation will be the first step in realising these plans, beginning with the creation of specialist claims handling teams, aligned to specific clients, to deliver client focussed services which leverage the strength and depth of talent in the wider business. Each team will work under the supervision of recognised SME’s, helping to not only encourage natural progression, but build out the depth of knowledge and core competences within the team structure.

We shall harness the capability of our most experienced market influencers and technicians in refocussed roles leading on claims strategy in the areas of Disease & Illness (Steve Bellingham), and Abuse & Care (Alan Metzger). Steve and Alan will work with me as Heads of Strategy in this key areas and coordinate with our Client Leads to ensure that all of our clients and people can capitalise on the substantial experience within our organisation. Focussing on these areas will also enhance our ability to influence change within the market.

In addition, our support functions will be reorganised within a new Central Services Team to ensure focussed support and administrative activities are delivered by a dedicated team in an efficient and consistent manner, allowing claims handlers to focus on the proactive approach to claims handling that generates the greatest value and best outcomes for our clients.

By implementing these measures, we will leverage our experiences and expertise throughout the business, and therefore drive the greatest value for our clients.

Managing any level of change in a business environment can be a challenge – especially when working from home – so, to reduce any periods of uncertainty, we have put together an ambitious timeline for 2021.

Structure can of course provide us with the framework to work within, while technology can release huge potential in terms of efficiencies, but at the end of the day, a business is only as good as its people. Our people will therefore be at the heart of our decision-making; from getting the right people into the right roles, to providing the right career paths and development routes for those who wish to progress.

Whilst COVID creates additional challenges, it can also provide additional opportunities. Pro’s proactive approach to adoption of working from home and willingness to embrace a hybrid working culture post-COVID, means that many of our opportunities are now location agnostic (removing potential barriers that may have previously existed and prevented people exploring wider development opportunities within our business). The business is growing, and there are many opportunities both within and outside the claims vertical.

From a UK EL/PL perspective, the transfer of the AVIVA and Enstar teams, supplemented with the recruitment of key individuals, has got us this far. This exciting next stage of our journey involves understanding how we best integrate the resources and skills we have and develop our operating model to ensure that we not only drive the best outcomes for the business, but for our people and customers too.

Raised in Telford, a “New Town” (known for its many roundabouts, ice rink and the Ironbridge). Mike grew up in a diverse and proud community. He was a child carer for his mother, a passionate advocate for diversity and, later on in life, he became active in a number of community organisations and political life. As a quick round up, he also loves going hiking, and – being a child of the 80’s – is an avid retro games collector.

Being naturally competitive, Mike has – in his own words – always been more of the “give me a pen, not a pencil type” of person; a quality which has served his educational career well, leading him to achieve degrees in Politics and Law, as well as Chartered Insurance Practitioner status.

In early 2000, Mike embarked on a career in claims, working for claimant “no win, no fee” solicitors. The impact of ATE satellite litigation, however, was a steep learning curve, and having seen the good, the bad and the ugly of claims management companies, Mike made the decision to move into insurance.

Joining Zurich in 2005 was his first stepping stone into disease and illness claims, which have been an area of focus for him since. Starting out amongst the first wave of external recruitment into the newly formed Occupational Disease Claims Team, Mike later set up and led Zurich’s Global Corporate UK Team, before moving into a senior technical role dealing with referrals from the team, leading class actions and contributing to a number projects.

Ready for a new challenge, Mike joined BAI Claims Services in 2010, helping drive a full organisational transformation. As well as acquiring new clients, Mike and his team navigated the NIHL epidemic, and by 2014, the portfolio was a similar scale to some of Pro’s existing larger clients.

In 2017, Mike joined Municipal Mutual Insurance Ltd, with significant exposure to public sector claims, where he drove further transformation and led the development of a bespoke claims-handling solution to support run-off and changing supplier arrangements.

With the transfer of the Enstar Team to Pro’s existing capability in UK EL/PL claims, Pro now has a scale (in terms of people and portfolios) which creates significant market opportunity; and for Mike, this was a challenge which he couldn’t pass up.

Pro is built on the determination to be the best claims supplier in the UK, and Mike’s experience will help us re-define and re-focus our operating models and activity, ultimately helping us create a market leading proposition that we can push forward and sell, unlocking global opportunities.

With Mike’s expertise, our talented team can drive value for our range of live and legacy clients and offer substantial value to prospective clients in the evolving UK EL/PL claims space.

London, Wednesday 14^th April 2021: Global re/insurance outsourcing and consulting specialists Pro Global Holdings Limited (‘Pro’) has announced the appointment of Roman Claren as Managing Director and Stilianos Kalaitzidis as new Head of Technical Claims for Pro Global’s German businesses/entities.

Roman joins Pro on 1st April, moving from ALBAG Dienstleistungsgesellschaft für die Wohnungswirtschaft mbH, Essen, a subsidiary of Provinzial Rheinland Versicherung AG, where he held the position of managing director.

Roman has more than 15 years’ experience in the insurance sector and has spent most of his career at Roland Assistance GmbH, working within claims services across motor, travel and building related insurances. In his role as the new lead for Pro’s German business, Roman will be supported by Robert Buchberger, Managing Director of Pro Insurance Solutions GmbH.

Also new to the team is Stilianos Kalaitzidis, who joined Pro in January this year. Stilianos joined Pro from the reinsurer Deutsche Rückversicherung AG, where he worked as a senior claims manager.

Stilianos has nearly a decade’s worth of work experience in the insurance and reinsurance sector, specialising in disability. In his last role, Stilianos helped insurers position themselves strategically in the market and identify and leverage new market trends and technologies.

“I am delighted to be welcoming both Roman and Stilianos to our team as we look to capitalise on our German position and achieve further growth in a key market for Pro. Over the last year Pro has gone from strength to strength, and I am confident that both Roman and Stilianos will fit well into our team and continue to strengthen our leadership qualities into the future.”

“I am excited to be joining the team at Pro and to be working alongside the expertise of both Robert Buchberger and Richard Lawson as we lead the claims space in Germany. By combining our skills and experiences I am confident that we will build and develop on Pro’s success so far.”

“I am thrilled to be joining Pro at such an important time as it strives to become a key player in the German market. Taking the reigns as Head of Technical Claims will allow me to not only focus on new products, partners and new technologies, but it will also provide the opportunity to use my market knowledge to help position Pro correctly within this market sector.”

Founded in 1993, Pro has some 160 clients spanning the global insurance market, including insurers, reinsurers, brokers, lawyers and corporate investors.

The Pro Group includes companies authorised and regulated in a number of jurisdictions including the UK that operate under the Pro Global Brand (with the exception of Pro MGA Global Solutions Ltd and its associated companies). Pro Global Holdings Limited is a holding company, registered in England and Wales, whose registered office is Southgate House, Southgate Street, Gloucester, GL1 1UB (Reg No. 10532385).

Pro MGA Global Solutions is a trading brand of Pro MGA Solutions Limited which is a company incorporated and registered in England and Wales, whose registered address is One America Square, 17 Crosswall, London EC3N 2LB (Reg No. 10575665) with its principal place of business (office) at 18 King William Street, London EC4N 7BP. Pro MGA Solutions Limited is authorised and regulated in the UK by the Financial Conduct Authority (FRN: 770419).

Meet our expert

Get in touch

Lysander PR

CONTACT US

POLICIES