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Context Visualised

@CoViAnalytics

Software for Insurers, MGAs & Lloyd's. Track regulatory rules as part of operations. Make decisions with context.

 London, UK
covianalytics.com/
Joined March 2015
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You don't have to build the map from scratch. We've already built one. Pick the area that matters most and make it yours.
Context Visualised carousel cover: Start from a map we've already built

ALT Context Visualised carousel cover: Start from a map we've already built

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Updating a procedure document takes hours. Then it sits in a shared drive until the next review. Here's another way: delegated authority (DA) oversight at Halden, our fictitious Lloyd's managing agent, as one flow.
Context Visualised carousel cover: DA oversight, as one clear flow

ALT Context Visualised carousel cover: DA oversight, as one clear flow

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Find your way around your business like a city. Here's Halden, our fictitious Lloyd's managing agent, on one tube map. Each team runs its own line, and work hands over where the lines cross.
Context Visualised carousel cover: Find your way around your business like a city

ALT Context Visualised carousel cover: Find your way around your business like a city

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What if your procedures ran like a tube map? Today most live in thick documents, split across files and versions, and out of date by the time anyone opens them.
Context Visualised carousel cover: What if your procedures ran like a tube map?

ALT Context Visualised carousel cover: What if your procedures ran like a tube map?

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This week we opened two parts of Halden's risk management framework: appetite and policies. Halden is a fictitious Lloyd's managing agent. The whole framework sits on one map.
If you're looking to refresh your risk appetite, let's have a chat. We'll demo Halden, our fictitious managing agent.

ALT If you're looking to refresh your risk appetite, let's have a chat. We'll demo Halden, our fictitious managing agent.

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One indicator watches both: out-of-authority binding. Both owners see the same number. Next week: how we draw processes, as tube maps of the business. covianalytics.com/halden/fra…
Next week: how we map processes. The map replaces the procedure document.

ALT Next week: how we map processes. The map replaces the procedure document.

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Appetite: "The coverholders and partners who act for us stay inside the authority we give them." Policy: "Every risk is written inside a signed authority." Both land where a coverholder binds a risk.
Halden's process map with both pinned to the Binds and pays step, tracked by out-of-authority binding.

ALT Halden's process map with both pinned to the Binds and pays step, tracked by out-of-authority binding.

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Your risk appetite and your policies sit in different documents. At Halden, a fictitious Lloyd's managing agent, they meet on the same step of the work.
Halden's appetite statement on coverholder authority next to policy principle PR-01.

ALT Halden's appetite statement on coverholder authority next to policy principle PR-01.

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Some principles serve more than one policy. "Claims data is complete and checked before use" is written once and used by three. See all four example policies: covianalytics.com/resources/…
Principle PR-06 on claims data, written once and used by three policies.

ALT Principle PR-06 on claims data, written once and used by three policies.

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Each policy breaks into principles, each with its own owner and a test of what good looks like. Each principle maps to the risks it covers, the controls that show it is met, and the indicators that show it still holds.
Principle PR-01 with its owner and test, mapped to risks, controls and an indicator.

ALT Principle PR-01 with its owner and test, mapped to risks, controls and an indicator.

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"Payments are handled properly" can't be checked. "Every payment has two authorisers" can. Here's how Halden, a fictitious Lloyd's managing agent, sets up its policies.
Halden's underwriting policy opened into six principles, each with an ID.

ALT Halden's underwriting policy opened into six principles, each with an ID.

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An appetite statement says what the board won't accept. It rarely says what happens when a limit gets close. Here's how Halden, a fictitious Lloyd's managing agent, sets up its appetite.
Slide 1 of 3: Set appetite where the risk sits. Layers for firm, class, subclass and risk, plus a culture and conduct statement tracked by indicators.

ALT Slide 1 of 3: Set appetite where the risk sits. Layers for firm, class, subclass and risk, plus a culture and conduct statement tracked by indicators.

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Ask where the risk framework lives, and you get a list of documents. Here's how Halden, a fictitious Lloyd's managing agent, sets up its framework on a page instead.
Halden's risk management framework on one map: how much risk we'll take, what we do, external risks, internal risks, how we do it, and the telltale signs, with reporting running through every box.

ALT Halden's risk management framework on one map: how much risk we'll take, what we do, external risks, internal risks, how we do it, and the telltale signs, with reporting running through every box.

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"This is a solid start to the year." Lloyd's now operates in "a world that is structurally disorderly". Patrick Tiernan, Lloyd's Chief Executive So we turned Lloyd's first half into five questions for your own board.
Cover slide. A photo of the Underwriting Room at Lloyd's, with two quotes from Patrick Tiernan, Chief Executive of Lloyd's: "This is a solid start to the year." Then: Lloyd's now operates in "a world that is structurally disorderly". Source: Lloyd's Half Year Report 2026, Chief Executive's statement, p4.

ALT Cover slide. A photo of the Underwriting Room at Lloyd's, with two quotes from Patrick Tiernan, Chief Executive of Lloyd's: "This is a solid start to the year." Then: Lloyd's now operates in "a world that is structurally disorderly". Source: Lloyd's Half Year Report 2026, Chief Executive's statement, p4.

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1/ What should a board take from Lloyd's first half? We read the 22-page Half Year Report 2026 and put the answer in six slides.
Slide 1 of 6. A solid half, in a world Lloyd's calls structurally disorderly. Lloyd's H1 2026 headline figures: gross written premium growth 6.9%, combined ratio 90.8%, underwriting profit £1.9bn, investment return £1.8bn, profit before tax £3.5bn, risk-adjusted rate change (6.7)%.

ALT Slide 1 of 6. A solid half, in a world Lloyd's calls structurally disorderly. Lloyd's H1 2026 headline figures: gross written premium growth 6.9%, combined ratio 90.8%, underwriting profit £1.9bn, investment return £1.8bn, profit before tax £3.5bn, risk-adjusted rate change (6.7)%.

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Again and again we helped risk teams build reports the business didn't engage with. Accurate. Well-designed. Unread. The problem wasn't the report. It was where the report lived.
Dark teal card. A small label reads "Most risk reports", above large white text: "Accurate. Well-designed. Unread." The footer reads "Every decision, in context." with the Context Visualised logo at the top.

ALT Dark teal card. A small label reads "Most risk reports", above large white text: "Accurate. Well-designed. Unread." The footer reads "Every decision, in context." with the Context Visualised logo at the top.

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Our clients' reports sit behind NDAs. So we built a fictitious managing agent, to show you how we work.
Halden's structure: the managing agent at £750m gross written premium in the 2027 plan, Syndicate 9146 at £500m and Syndicate 9147 at £250m, with an owned coverholder in Dubai writing for 9146, a UAE fronting partner feeding 9146 and a US fronting partner feeding 9147. Halden is a fictitious Lloyd's managing agent.

ALT Halden's structure: the managing agent at £750m gross written premium in the 2027 plan, Syndicate 9146 at £500m and Syndicate 9147 at £250m, with an owned coverholder in Dubai writing for 9146, a UAE fronting partner feeding 9146 and a US fronting partner feeding 9147. Halden is a fictitious Lloyd's managing agent.

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Your board does not ignore risk. It ignores the risk report. Many risk teams spend weeks scoring risks on a 5×5 grid. The business has already put a number on most of the same risks, in its capital model, and files it with Lloyd's.
Card titled "Your risks, grouped the way the capital is." It shows Halden's risk landscape against an ultimate SCR of £330m, from 79 risks in the register, 2 rated high after controls. Insurance risk: £244m, 74% of SCR, outside appetite, 7 partially effective controls. Counterparty risk: £30m, 9%, approaching appetite, 4 partially effective. Operational risk: £30m, 9%, outside appetite, 2 ineffective and 7 partially effective controls. Market risk: £26m, 8%, within appetite, no control exceptions. Strategic risk: not in the SCR, approaching appetite, 6 partially effective. Halden is a fictitious Lloyd's managing agent.

ALT Card titled "Your risks, grouped the way the capital is." It shows Halden's risk landscape against an ultimate SCR of £330m, from 79 risks in the register, 2 rated high after controls. Insurance risk: £244m, 74% of SCR, outside appetite, 7 partially effective controls. Counterparty risk: £30m, 9%, approaching appetite, 4 partially effective. Operational risk: £30m, 9%, outside appetite, 2 ineffective and 7 partially effective controls. Market risk: £26m, 8%, within appetite, no control exceptions. Strategic risk: not in the SCR, approaching appetite, 6 partially effective. Halden is a fictitious Lloyd's managing agent.

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