Leading Lloyd’s Of London Insurance Company selects KnowledgeCore for business issue management

8 March 2007

When Besso Limited, a leading Lloyd’s of London Insurance Company decided to upgrade their main line of business system to provide underwriters and customers with improved information and response, development was outsourced to an offshore developer.

As functionality was developed, issues and problems were raised by users for reengineering. By the time the list of issues had grown to over 400 with some over a year old, the IT department administering the issues was finding difficulty in knowing what might be a critical issue or which issue should be addressed first.

Besso needed to implement a method of identifying the most important issues, prioritising their response and reporting on the progress of change. All their research indicated that existing tools and methodologies enforced a business process change that would entail significant cost and time investment and the adoption of a new business process not designed for their business model.

Besso decided to implement the Issue Management module of the KnowledgeCore Compliance, Governance and Risk solution. The module extracts data directly from all databases, all Microsoft tools, all time and HR management tools and all financial systems so zero additional hardware, software or licence costs were needed.

The import, risk scoring and prioritisation of issues were completed in less than a day. This allows reporting in real time on the status of all issues, provides up-to-the-second information for management decision making and significantly reduced the time spent on report preparation. Issues were then linked to risks, requirements and actions and allocated to specific individuals for immediate action.

“The new system is 100 times better than our old spreadsheet based system.” said Gary Pruce, Besso IT Director. “We have implemented checks and escalations to make sure our most important issues are addressed first, we can also have multiple actions against any issue which was not possible before. We can report on the exact level of progress at any time and change the importance levels as our business requirement changes.”

“Our experience has been so successful that we are in the process of implementing KnowledgeCore modules for Change Management and Programme and Project Reporting. We are also evaluating the Risk Management module to reduce business risks within the organisation.” stated Gary Pruce.

The information from KnowledgeCore modules is reported via a real-time dynamic dashboard that can be displayed on any networked or stand alone PC, on a remote laptop, PDA or Smartphone anywhere in the world.

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