Tier 3 Case Study

(Fully anonymised - no identifiable details)

Client Context

A mid-sized insurance organisation operating across multiple commercial and specialty product lines required a full redevelopment of its core governance, underwriting and actuarial documentation ahead of a challenging review and upcoming regulatory engagement. Existing materials were fragmented, inconsistent in structure and lacked clear articulation of methodology, assumptions, governance linkages and decision rationale. Senior stakeholders lacked confidence in the existing documents, and the business needed a coherent, defensible, board-ready suite of materials.

Approach

Through DEX™ Tier 3 Flagship programme, Luma Strategy delivered an end-to-end redevelopment of the organisation's key documentation. 

The engagement included:

• Structured review of all existing narrative, assumptions, controls and decision points
• Identification of gaps, inconsistencies and unclear rationale
• Redesign of the document architecture for coherence and logical flow
• Rewriting of technical content to increase clarity, traceability and defensibility
• Integration of modelling approaches, parameterisation, evidence and uncertainty
• Clear linkage between risks, controls, governance processes and oversight committees
• Alignment with expectations of Boards, internal governance frameworks and regulators

Throughout the process, the document was iterated to ensure readability for both technical and non-technical audiences, while maintaining actuarial integrity.

Results

The insurance organisation received a fully restructured, rewritten and board-ready documentation suite that delivered tangible improvements:

• Clear, defensible rationale behind methodologies, assumptions and decisions
• Strong alignment between governance artefacts, controls and oversight processes
• Consistent structure and style across all documents
• Enhanced traceability between risks, models, controls and decision pathways
• Reduced ambiguity and duplication, improving usability across functions
• Documentation maturity uplifted to a standard suited for senior review and external scrutiny

Business Impact

The improvements delivered measurable organisational value:

• More effective Board challenge and better-informed decision-making
• Stronger preparedness for regulatory engagement and audit review
• Increased confidence among senior stakeholders due to coherent and defensible documentation
• Improved cross-functional alignment between underwriting, actuarial, risk and governance
• A consistent documentation foundation supporting future updates, growth and oversight

The DEX™ Tier 3 rebuild became the standard template for documentation across the business, significantly improving clarity, efficiency and governance maturity.