|
[[Definition:DistributionArtificial channelintelligence (AI)]]
[[Definition:IntermediaryMachine learning (ML)]]
[[Definition:InsuranceDeep brokerlearning]]
[[Definition:InsuranceNatural agentlanguage processing (NLP)]]
[[Definition:IndependentComputer agentvision]]
[[Definition:CaptivePredictive agent (exclusive agent)analytics]]
[[Definition:GeneralPredictive agent (GA)modelling]]
[[Definition:ManagingAlgorithmic general agent (MGA)underwriting]]
[[Definition:ManagingAutomated generalclaims underwriter (MGU)processing]]
[[Definition:DelegatedFraud underwriting authority (DUA)detection]]
[[Definition:BindingOptical authoritycharacter recognition (OCR)]]
[[Definition:BinderRobotic process automation (RPA)]]
[[Definition:CoverholderChatbot]]
[[Definition:ProgramLarge administratorlanguage model (LLM)]]
[[Definition:ProgramGenerative businessartificial intelligence (GenAI)]]
[[Definition:WholesaleNeural brokernetwork]]
[[Definition:RetailSupervised brokerlearning]]
[[Definition:SurplusUnsupervised lines brokerlearning]]
[[Definition:ReinsuranceTraining brokerdata]]
[[Definition:Lloyd'sAlgorithmic brokerbias]]
[[Definition:Placing brokerExplainability]]
[[Definition:ProducingBlack brokerbox model]]
[[Definition:BrokerModel of recordvalidation]]
[[Definition:Broker of record letter (BOR)Telematics]]
[[Definition:Sub-agentSentiment analysis]]
[[Definition:AppointedDecision representative (AR)tree]]
[[Definition:IntroducerData appointed representative (IAR)mining]]
[[Definition:TiedStraight-through agentprocessing (STP)]]
[[Definition:Multi-tiedIntelligent agentdocument processing (IDP)]]
[[Definition:BancassuranceDigital twin]]
[[Definition:Affinity group marketing]]
[[Definition:Affinity partner]]
[[Definition:White-label distribution]]
[[Definition:Embedded insurance]]
[[Definition:Insurtech]]
[[Definition:Digital distribution]]
[[Definition:Direct-to-consumer distribution (D2C)]]
[[Definition:Direct writer]]
[[Definition:Aggregator (comparison site)]]
[[Definition:Insurance marketplace]]
[[Definition:Lead generation]]
[[Definition:Referral arrangement]]
[[Definition:Distribution agreement]]
[[Definition:Agency agreement]]
[[Definition:Brokerage agreement]]
[[Definition:Terms of business agreement (TOBA)]]
[[Definition:Commission]]
[[Definition:Brokerage commission]]
[[Definition:Override commission (overrider)]]
[[Definition:Contingent commission]]
[[Definition:Profit commission]]
[[Definition:Sliding-scale commission]]
[[Definition:Commission disclosure]]
[[Definition:Net rate]]
[[Definition:Gross rate]]
[[Definition:Fee-based compensation]]
[[Definition:Broker remuneration]]
[[Definition:Acquisition cost]]
[[Definition:Commission ratio]]
[[Definition:Expense ratio]]
[[Definition:Combined ratio]]
[[Definition:Cost of acquisition]]
[[Definition:Bordereaux]]
[[Definition:Premium bordereaux]]
[[Definition:Claims bordereaux]]
[[Definition:Binding authority agreement (BAA)]]
[[Definition:Lineslip]]
[[Definition:Consortium]]
[[Definition:Facility]]
[[Definition:Open market placement]]
[[Definition:Subscription market]]
[[Definition:Lead underwriter (lead insurer)]]
[[Definition:Following underwriter]]
[[Definition:Slip]]
[[Definition:Market reform contract (MRC)]]
[[Definition:Placing slip]]
[[Definition:Firm order terms (FOT)]]
[[Definition:Indication]]
[[Definition:Quote]]
[[Definition:Quotation]]
[[Definition:Invitation to tender]]
[[Definition:Request for proposal (RFP)]]
[[Definition:Request for information (RFI)]]
[[Definition:Request for quotation (RFQ)]]
[[Definition:StatementVendor of factmanagement]]
[[Definition:ProposalThird-party formrisk management (TPRM)]]
[[Definition:SubmissionService level agreement (SLA)]]
[[Definition:RiskKey presentationperformance indicator (KPI)]]
[[Definition:FactDue finddiligence]]
[[Definition:Demands and needs statementOutsourcing]]
[[Definition:Suitability assessmentInsourcing]]
[[Definition:InsurancePreferred product information document (IPID)supplier]]
[[Definition:KeySupplier information document (KID)evaluation]]
[[Definition:Pre-contractualTotal disclosurecost of ownership (TCO)]]
[[Definition:DutyProcurement of disclosurelifecycle]]
[[Definition:MaterialContract factmanagement]]
[[Definition:UtmostMaster goodservice faithagreement (uberrima fidesMSA)]]
[[Definition:DutyStatement of fairwork presentation(SOW)]]
[[Definition:BestSpend adviceanalysis]]
[[Definition:AdvisedCategory salemanagement]]
[[Definition:Non-advisedStrategic sale (execution only)sourcing]]
[[Definition:ProductCompetitive oversight and governance (POG)tendering]]
[[Definition:TargetVendor marketlock-in]]
[[Definition:Product approval processSubcontracting]]
[[Definition:ProductNon-disclosure distributionagreement arrangement(NDA)]]
[[Definition:ConductPurchase oforder business(PO)]]
[[Definition:Treating customers fairlyProcure-to-pay (TCFP2P)]]
[[Definition:CustomerSupplier outcomeonboarding]]
[[Definition:Vulnerable customerBenchmarking]]
[[Definition:ComplaintsTail handling procedurespend]]
[[Definition:InsuranceBusiness distributioncontinuity directiveplanning (IDDBCP)]]
[[Definition:ContinuingSole professional development (CPD)sourcing]]
[[Definition:FitSingle and proper requirementssourcing]]
[[Definition:Licensing requirementMulti-sourcing]]
[[Definition:Appointment (of agent or intermediary)Nearshoring]]
[[Definition:Register of intermediariesOffshoring]]
[[Definition:Cross-border distributionOnshoring]]
[[Definition:FreedomManaged ofservice servicesprovider (FOSMSP)]]
[[Definition:FreedomBusiness ofprocess establishmentoutsourcing (FOEBPO)]]
[[Definition:PassportingInformation technology outsourcing (ITO)]]
[[Definition:Third-countryVendor branchconsolidation]]
[[Definition:E&OSupplier insurance (professional indemnity insurance)diversity]]
[[Definition:ErrorsFramework and omissions insurance (E&O)agreement]]
[[Definition:ProfessionalBlanket indemnitypurchase insuranceagreement (PIBPA)]]
[[Definition:FiduciaryRate dutycard]]
[[Definition:DutyCost-benefit ofanalysis care(CBA)]]
[[Definition:ConflictReturn ofon interestinvestment (ROI)]]
[[Definition:ClientValue for money (VFM)]]
[[Definition:PremiumNegotiation trust fundstrategy]]
[[Definition:InsurerBest securityand (carrierfinal financialoffer strength(BAFO)]]
[[Definition:AdmittedInvitation carrierto (authorisedtender insurer(ITT)]]
[[Definition:Non-admittedEvaluation carrier (non-authorised insurer)criteria]]
[[Definition:SurplusWeighted linesscoring marketmodel]]
[[Definition:ExcessProof andof surplus linesconcept (E&SPOC)]]
[[Definition:LondonPilot marketprogramme]]
[[Definition:Lloyd'sVendor ofrisk Londonassessment]]
[[Definition:SyndicateSupplier scorecard]]
[[Definition:ManagingContract agent (Lloyd's)renewal]]
[[Definition:Lloyd'sAuto-renewal coverholderclause]]
[[Definition:Termination for convenience]]
[[Definition:Exit strategy]]
[[Definition:Transition plan]]
[[Definition:Change control]]
[[Definition:Scope creep]]
[[Definition:Escalation procedure]]
[[Definition:Governance framework]]
[[Definition:Steering committee]]
[[Definition:Stakeholder management]]
[[Definition:Demand management]]
[[Definition:Specification]]
[[Definition:Compliance requirement]]
[[Definition:Regulatory outsourcing obligation]]
[[Definition:Material outsourcing]]
[[Definition:Critical service provider]]
[[Definition:Concentration risk]]
[[Definition:Fourth-party risk]]
[[Definition:Supply chain risk]]
[[Definition:Right to audit clause]]
[[Definition:Data processing agreement (DPA)]]
[[Definition:Intellectual property rights (IPR)]]
[[Definition:Indemnification clause]]
[[Definition:Limitation of liability]]
[[Definition:Force majeure]]
[[Definition:Liquidated damages]]
[[Definition:Penalty clause]]
[[Definition:Earnback mechanism]]
[[Definition:Gain-sharing arrangement]]
[[Definition:Fixed-price contract]]
[[Definition:Time-and-materials contract (T&M)]]
[[Definition:Cost-plus contract]]
[[Definition:Outcome-based contract]]
[[Definition:Maverick spend]]
[[Definition:Spend under management]]
[[Definition:Savings target]]
[[Definition:Budget holder]]
[[Definition:Approval workflow]]
[[Definition:Delegated authority]]
[[Definition:Third-partyProcurement administrator (TPA)policy]]
[[Definition:ClaimsEthical administratorsourcing]]
[[Definition:LossEnvironmental, adjustersocial, (lossand adjustorgovernance criteria (ESG)]]
[[Definition:PremiumSustainable collectionprocurement]]
[[Definition:PremiumVendor financingperformance review]]
[[Definition:InstallmentContinuous billingimprovement]]
[[Definition:PolicyMarket administrationanalysis]]
[[Definition:PolicyMake-or-buy issuancedecision]]
[[Definition:Mid-termIncumbent adjustment (MTA)supplier]]
[[Definition:Endorsement]]
[[Definition:RenewalGross written premiums (GWP)]]
[[Definition:RenewalCombined retentionratio rate(CR)]]
[[Definition:LapseUnderlying earnings]]
[[Definition:CancellationUnderlying earnings per share (UEPS)]]
[[Definition:BookUnderlying ofreturn businesson equity (URoE)]]
[[Definition:PortfolioNet transferincome]]
[[Definition:NovationSolvency II ratio]]
[[Definition:Run-offEligible own funds (EOF)]]
[[Definition:GrossContractual writtenservice premiummargin (GWPCSM)]]
[[Definition:NetNew writtenbusiness premiumvalue (NWPNBV)]]
[[Definition:CedingNew commissionbusiness value margin]]
[[Definition:FrontingPresent arrangementvalue of expected premiums (PVEP)]]
[[Definition:FrontingNew insurerbusiness contractual service margin (NB CSM)]]
[[Definition:CapacityCSM release]]
[[Definition:RiskTechnical appetitemargin]]
[[Definition:UnderwritingTechnical guidelineexperience]]
[[Definition:UnderwritingNet authorityflows]]
[[Definition:Binding limitUnit-linked]]
[[Definition:ReferralGeneral (toaccount underwriter(GA)]]
[[Definition:Peer-to-peerProperty and casualty insurance (P2PP&C)]]
[[Definition:ParametricLife and health insurance distribution(L&H)]]
[[Definition:MicroinsuranceCommercial lines]]
[[Definition:GroupPersonal insurance schemelines]]
[[Definition:Voluntary benefitReinsurance]]
[[Definition:WorksiteManaging marketinggeneral agent (MGA)]]
[[Definition:Cross-sellingNatural catastrophe charges (Nat Cat)]]
[[Definition:Up-sellingPrior years' reserve development]]
[[Definition:Multi-channelClaims distributionreserve]]
[[Definition:OmnichannelUnwind distributionof discount]]
[[Definition:Point-of-saleLoss insuranceratio]]
[[Definition:AncillaryExpense insurance intermediaryratio]]
[[Definition:TravelCurrent distributionyear (ancillary insurance)loss]]
[[Definition:MotorShort-tail dealer distributionlines]]
[[Definition:RetrocessionLong-tail brokerlines]]
[[Definition:WholesaleCasualty marketinsurance]]
[[Definition:MarketFinancial accesslines]]
[[Definition:Distribution footprintProtection]]
[[Definition:PipelineSavings (sales pipeline)insurance]]
[[Definition:HitEndowment ratio (quote-to-bind ratio)product]]
[[Definition:ConversionSingle ratepremium]]
[[Definition:LossWhole-life ratio (L/R)product]]
[[Definition:Persistency rateBancassurance]]
[[Definition:CustomerDirect lifetime value (CLV)insurance]]
[[Definition:NetMotor promoter score (NPS)insurance]]
[[Definition:ApplicationFire programming interface (API) integrationinsurance]]
[[Definition:Straight-throughWorkers' processing (STP)compensation]]
[[Definition:ElectronicGroup placementlife insurance]]
[[Definition:PlacingHealth platforminsurance]]
[[Definition:Complementary health insurance]]
[[Definition:Retail motor]]
[[Definition:Social inflation]]
[[Definition:Market softening]]
[[Definition:Pricing cycle]]
[[Definition:Capital-light product]]
[[Definition:Surrender]]
[[Definition:Persistency]]
[[Definition:Underwriting]]
[[Definition:Pruning]]
[[Definition:Earn-through]]
[[Definition:Debt gearing]]
[[Definition:Restricted Tier 1 capital (RT1)]]
[[Definition:Tier 2 capital]]
[[Definition:Loss absorption mechanism]]
[[Definition:Write-down]]
[[Definition:Credit spread]]
[[Definition:Investment grade]]
[[Definition:High yield]]
[[Definition:Corporate spread]]
[[Definition:Solvency capital requirement (SCR)]]
[[Definition:Organic cash upstream]]
[[Definition:Dividend payout ratio]]
[[Definition:Total payout ratio]]
[[Definition:Share buy-back]]
[[Definition:Normalized own funds generation]]
[[Definition:Operating return]]
[[Definition:Foreseeable dividend]]
[[Definition:Comparable basis]]
[[Definition:Constant exchange rate basis]]
[[Definition:Scope effect]]
[[Definition:Intercompany elimination]]
|