General Insurance Article - JLT EB awarded QAS from the IFoA

 The process involved documenting all of JLT’s procedures and processes for the Faculty of Actuaries’ assessment. JLT has been very careful over the years not to design procedures merely to satisfy its actuarial needs, but to meet the best interests of its entire consulting business and ultimately its clients. The purpose of the assessment to was to test that these were fully embedded in the culture of the business and met the standards required. Areas covered include quality reviews, terms and conditions structure, training and assessments, conflicts of interest, and whistleblowing procedures amongst others.

 Phil Wadsworth, Chief Actuary, JLT Employee Benefits, comments: “This is a very positive reflection on our consulting business of which we are very proud. Clients place great reliance on our advices and the accreditation will provide them further reassurances around our processes, policies and procedures. It has been a beneficial exercise in that we have received greater insight on some aspects of our business from the independent assessors and have taken positive steps to build in these enhancements.”

 Bala Viswanathan, CEO, JLT Employee Benefits, said: “As a client centric consulting business it is vitally important that all our clients receive clear and unambiguous advices which are focused on their needs. This accreditation reinforces my belief that we have the processes and the people to take us forward and deliver outstanding results.”