Case Studies

Scyllogis Consulting has helped our Customers within the Insurance sector continue to achieve significantly higher levels of business performance from their IT systems. Read how we have worked with some of these Customers to achieve significant business results across the world, in our Case Studies ....

Consulting Expertise

Despite all of the articles and books on the topic, companies today are no more effective at delivering on large-scale change initiatives than they were 20 years ago. In a recent survey, 70% of the companies said their change management initiatives did not deliver the expected results. That success rate was unchanged from similar surveys conducted in the 1980's and 1990's. And the environment for change is only getting more complex.  Read more .......

Our People
At Scyllogis Consulting all of our consultants have significant experience gained from within the Insurance market. Our people and our culture are our greatest assets. We only select people with relevant experience, intelligence, integrity, passion and the ambition to make a mark and deliver to our Customers the Scyllogis brand values of practical, results based consultancy. Our Consultants are pragmatic and open minded. That is why we deliver solutions that others dont.....  Read More
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Glossary of Terms
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Approved run-off company

A company that is permitted by Lloyd’s to perform specified functions that would normally be performed by a managing agent of a run-off syndicate on behalf of that agent or a substitute agent. 

Assured

Another name for an insured.

Attachment date

Another term for inception date, being the date on which an insurance or reinsurance contract comes into force.

Attorney in fact

A person appointed by a power of attorney to act on behalf of another person.
A Lloyd’s attorney in fact is a representative appointed by Lloyd’s to represent Lloyd’s and Lloyd’s underwriters in particular country or US state. An attorney in fact may be a natural person or a company and performs a similar role to a Lloyd’s General Representative.

Authorised person

A person (usually a firm) that has been approved by the Financial Services Authority (FSA) to carry on one or more FSA regulated activities. 

Average

If the sum insured under non-marine insurance is expressed to be “subject to average” and that sum is less than the value of the subject matter of the insurance then any claim that is agreed under the policy will be reduced proportionately to reflect the under insurance.  
Section 81 of the Marine Insurance Act 1906 say that an insured shall be his own insurer as regards any under insurance.
In marine insurance the term average may also refer to one of two types of loss, general average and particular average.

Avoidance of a contract ab initio

The cancellation of an insurance or reinsurance contract from its beginning by an insurer or reinsurer on the basis of the misrepresentation and/or non-disclosure of material facts. The result is that the insurer/reinsurer has no liability under the contract but must repay the premium to the insured/reassured.


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Last Updated ( Tuesday, 26 February 2008 )
 
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