Admiral Group sails towards streamlined global risk management

The challenge

Admiral Group plc, a prominent player in the insurance industry, sought to enhance their risk management processes amidst a global presence and diverse portfolio. The need for a more streamlined and efficient reporting capability led them to Ideagen.

This complexity of their operations was creating a number of challenges: 

• Report creation was time consuming 
• Risk aggregation was inconsistent and managed through separate spreadsheets 
• This led to low user adoption among their teams – which in itself was a risk 

They needed a more streamlined and efficient risk management solution with a better reporting capability. The search for a solution was on. 

The solution

Admiral’s criteria was clear, they needed: 

• Customizable and drillable reporting features
• Centralized risk data management 
• User-friendly interface ensuring better end-user adoption 

The outcome

With Ideagen’s support, Admiral Group: 

• Transformed risk management into a centralized system, creating a single source of truth for enterprise risk 
• Enabled stakeholders to identify and manage key risks efficiently through unique portals 
• Achieved quicker and more informed decision-making with real-time updates and flexible reporting 
• Improved executive oversight, allowing the risk team to take a holistic view of the organization's risk profile