A solution for legacy debt collection

  • Identified uncollected/trapped premium

  • Collected £8.5 million of gross premium

  • EPIs in line with the premium signed

How we helped

Our objective was to provide legacy credit control services to a Lloyd’s Managing Agent. We provided our client with a solution to the collection of Legacy debt, which typically do not form part of their outstanding debts. When we collect closed year’s premium, it brings no risk at all to our clients, as we are only remunerated when successful.

Results

For three years, this client benefited from gross premium collections of £8.5 million,  increasing profitability from unbudgeted premium collections. We used our long term relationships with brokers to identify uncollected/trapped premium, which can sometimes include overlooked premium adjustments. Whilst the collection and identification of unpaid premium was key, our client also benefitted from management of their EPIs, which allowed them to bring EPIs in line with the premium signed.

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