Dynamo were engaged to provide advice to a managing agency who are looking to re-platform their capital model. The importance of selecting the correct technology is very important for both regulatory requirements and strategic use, and we were asked to sit on the selection panel to contribute an independent, unbiased opinion on each vendor and the ability of each product to fit the profile of the syndicates under management.
The engagement involved:
• Conducting interviews with actuarial, senior management, IT and other key stakeholders to understand the technical and non-technical requirements from the business.
• Based on the feedback from interviews, writing the request for proposal (RFP) for the vendors.
• Develop a scoring template to objectively assess the vendors.
• Liaising with the vendors directly to assist the selection process, where appropriate.
• Reviewing the written proposals and live demonstration and providing an independent, unbiased recommendation for the vendor we believed best fit the business requirement.