Week Five



Destination: Innovation!

This week we officially closed out the Discovery stage of project Dare and kicked off the Innovation stage. Take a look at our findings, early conclusions and plans for Innovation…

Destination: Innovation!

This week we officially closed out the Discovery stage of project Dare and kicked off the Innovation stage. Take a look at our findings, early conclusions and plans for Innovation…

Where did January go?

It seems like only yesterday we were preparing to start 2021 with a series of Discovery workshops to identify the things that stakeholders would like to re-imagine about DA. 

These workshops have (virtually) taken us around the world, allowing us to engage with Stakeholders from here in the U.K to the U.S.A, Canada, Australia and New Zealand and on Friday, we completed the final Discovery workshop and started the process of compiling over 700 contributions that have been made by 73 different individuals across 15 workshops. 

To everybody who took the time to support the Discovery stage we want to say a huge THANK YOU! A project of this nature is only as good as the people who support and contribute to it and you have all done yourselves proud. It was genuine pleasure to meet you all and we look forward to the chance to do so again during the Innovation stage.

In addition to these workshops, we’ve also completed 6 one on one interviews with various stakeholders and also run 4 early innovation sessions with Brit, AXA XL, Carbon  and the Delegated Authority Committee. It’s been a heck of a month!

So what did we discover?

Aside from a universal unhappiness with the bag of fun that is Bordereau, we’ve identified a significant amount of frustration across all stakeholder groups relating to the way in which company audits and compliance checks are conducted.

For Coverholders and Managing Agents, this frustration spills over into the contracting and renewal activities where there seems to be a significant amount of duplication taking place, conducting checks that few people believe are adding value to ensuring that the DA market is an effective place to do business. 

In the Claims section of the DA chain, there is an information sharing disconnect between TPAs and others which make it difficult to ensure that the funding required to settle claims efficiently is always available.

And across the board, people feel that the information being asked of them and the systems they are being asked to use to input and access this information is not always relevant or available when it should be, in a format that helps them.

Click on the images below to take a look at the different bad and ugly points that were raised in the workshop:

Click here to view the Miro board
Click here to view the Miro board

And of course, it’s not all bad or ugly stuff in DA. You can also see the many good things that were raised about DA here:

Click here to view the Miro board

Making sense of the issues

We’re grouping all of these contributions into different themes which can then be used as the basis of discussion in the Innovation workshops. Already, we can see that a significant number of these contributions align with the following opportunity areas:

We discussed these with the Delegated Authority Committee in an early innovation workshop last week and validated some early conclusions which we will be using to shape the agenda of the Innovation workshops that take place during this month:

  • DA will always be a human led market that relies on the ability of different stakeholder groups to network and collaborate effectively.

  • The processes and tools that are currently being used to support stakeholders within DA are outdated and in some cases hindering stakeholders rather than helping.

  • Storing information in silos promotes duplication of effort and makes it hard to ensure that those who need information have access to the right data, when they need it.

  • To address the above points, for a market that relies on accurate and timely information sharing between thousands of different stakeholders across the globe, a modern, digital toolset is required.

Destination: Innovation

Is it time to challenge the ways of working that have built up over the years and agree on a new way of doing things?

Within Project Dare we think it is and to that end, we are inviting you to get involved and help us to re-imagine how Delegated Authority business could be transacted in a way that supports faster launch of innovative products, encourages growth in new territories, provides a better claims handling experience for your Customers by working differently, with a modern toolset that connects those who need to engage at the right time and with the right information needed to do business.

The Innovation workshops start today and will run until the first week of March. Each workshop will focus on a different element of the DA chain, with an objective of re-imagining how we might do this in line with the opportunity areas that are being identified from the Discovery findings. Workshop topics will include:


Exploring how we can streamline the process of onboarding new Coverholders so that it takes days (or hours!) rather than 6-12 months and enable ways for them to evolve within the DA market as they continue to grow. 

Product Collaboration:

Exploring the ways in which information and digital tools could be used to support Coverholders, Brokers, Managing Agents and DCAs to engage and collaborate on bringing new propositions to market.

Binding & Placing:

Exploring how we can streamline the process of obtaining capacity for a Coverholder proposition, covering both sole funded and lead/follow scenarios, so that both the time taken to do this and also the burden on Coverholders and Brokers with regards the duplicate and also additional information they are required to provide to follows is reduced.


Similar objective to obtaining capacity for a new proposition but focussed on how ongoing capacity could be provided to the Coverholder and also how we might streamline scenarios where capacity is reduced or removed.


Exploring how we use information sharing and digital tools to reduce/remove the amount of duplicate requests for information and consider which party should be responsible for undertaking the checks and how they could share this with other parties that have a need to know.


Exploring how we could increase access to information so that each party is awarded a score/rating and use this to make risk assessment type decisions as to what Compliance checks are required and how often. 

Claims Handling:

Exploring how to use information sharing and digital tools to connect Proposition, Policy and Claims data together so that interested parties have better access to the information they need in a much faster manner. Also consider how this could be used to assist in streamlining the ways in which claims funds are paid to the Customer/Insured.


Exploring how we might use information sharing and digital tools to manage the movement and reconciliation of funds used to provide capacity, premium income and claims payments.

We’re excited to work with you on this and if you’d like to get involved in this part of the discussion we’d love to hear from you.