Background: In 2018 the Bank of England released a discussion paper together with the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on the need for a stronger regulatory framework to promote the operational resilience of firms and Financial Market Infrastructures (FMIs). In March 2021 the final policy was set, giving regulated firms in the UK finance sector one year to prepare before operational resilience rules would take effect. To manage this process effectively, a major UK insurer have established a dedicated operational resilience department.
Challenge: Help the company digitalise their operational resilience programme with a configurable, data-driven solution that provides consistent results and supports resilience capability building and reporting.
Solution: Exonaut® is a smart and secure data management solution for mapping Important Business Services and dependencies, assessing tolerances, and planning and measuring exercise and action plans.
Benefits: Data can be cut and sliced in any way, to provide granular and holistic resilience insights and identify efficiencies and opportunities across the organisation. Reporting is automated and easily shared with stakeholders.
Customer: A major UK insurer with over 15.5 million people using their services to protect their belongings and help plan for the future. The company is committed to driving innovation and sustainability within the industry.