Educates and Empowers Boards To Deliver Enhanced Value

Regenesis Boardroom Review

The CWC / Regenesis Partnership

How We
Can Help

The Board, and individual Board Members, face a growing array of stakeholders’ scrutiny whilst directing a captive or SME insurer. Increasingly, they are looking to external independent counsel to ensure, and provide evidence, that they are a high performing and soundly governed caucus.

Regenesis Boardroom Risk Analysis

Instant, Online, Confidential & Free

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Our Vision

To respond to this demand, CWC has teamed up with a leading Boardroom Development Professional, Thomas Welsh, to offer a suite of offerings to move a Board’s performance from good to great.

Our Vision is to Educate, Empower Boards to Deliver Enhanced Value.

We achieve this by delivering Regenesis Boardroom Review – an affordable process that enables Boards to simply and effectively evaluate their performance. To see what they do well and identify areas that would benefit from development. At its heart is an assessment tool that furnishes the board with insightful recommendations.

Choice

Regenesis Boardroom Review is all about choice. A choice, firstly to provide your Board with a comprehensive review of performance, to explore your functioning & ways of working. An opportunity for Board members to see themselves and the Board clearly from within, compare themselves with what excellence looks like and to choose when and how to act upon it. A choice to decide how, when and to what extent, the Board regenerates itself.

Is Your Captive board performing
to its fullest potential?

Across a wide range of business sectors corporate insurance is getting tougher and corporate risks are increasing. Reductions in market capacity, higher premiums, and more constrained terms are forcing companies to look at alternative risk financing strategies, including captives. A consequence of this is increased group scrutiny on captives as they become more significant in their role both strategically and financially.

One particular area seeing increased focus and challenge is the evaluation of the captive board’s performance. Shareholders want to be sure that their captive’s mission statement, strategy, core processes and activities are aligned with the group vision and its role within group strategy. With this in mind captive boards need to have clarity around key issues including:

  • the critical core processes necessary to achieve the captive’s fundamental purpose
  • the measurement of progress towards the delivery of its vision and strategy, and its performance against appropriate KPIs
  • the development plans for the captive to meet the challenges facing the group in the future

 

A recent review by PwC (2) found that half of management think that their board falls short in overall effectiveness. The report’s recommendations included:

  • Reassess board (and committee) self-evaluation process including how the board as a whole is adding value and areas it may need to improve or spend more time on.
  • Focus on succession planning. The board should know where it is going and assume responsibility for determining what skills are needed in the future.
  • Provide feedback to management as to how agenda, board papers and presentations could be improved so that it is easier for the board to fully engage.

 

Worryingly, a survey of captives by International Risk Management Institute and SRS (3) revealed that 77% of participants reported no annual board and committee evaluation processes.

  1.  The term “captive” is taken to encompass the range of alternative risk entities and niche (re)insurers
  2.  “Board Effectiveness. A Survey of the C-suite”.
  3.  “Survey on corporate regulation and governance in captives”
Circle-of-Capabilities

Regenesis Boardroom Review

But how best to assess a captive board’s performance?

The most common approach of solely undertaking a self-assessment by board members lacks robustness, objectivity and typically concentrates on inputs rather than outputs/outcomes which results in a fudged compromise that leaves all parties dissatisfied.

What is needed is a process that is simple, affordable and delivers verifiable results to enable the board to understand each facet of its performance and more importantly identify “Headroom” – areas that would most benefit from development.

In response to this need, Cutts-Watson Consulting Limited, in partnership with Thomas Welsh, an experienced business coach, have developed ”Regenesis Boardroom Review” to enable boards to see what they do well and identify where opportunity exists for the captive to reach its full potential.

At its heart is an assessment tool that provides evidence-based output. It is not an onerous exercise – it requires the captive manager and company secretary to provide certain documentation and records, and board members to complete an on-line questionnaire. From this we create an insightful report identifying:

  • core documentation
  • collective board capabilities
  • board declaration heatmaps (regulatory declarations and confirmations the board and individual members would feel comfortable making), and
  • areas that we feel offer Headroom for development.

We offer a workshop to facilitate the exploration these opportunities by the board.

In addition, we provide “Building the Future”, a development guide for board members as an aid to understand their roles, responsibilities and how to work together effectively to provide strategic leadership and governance of the captive.

So, what have we discovered following the launch of “Regenesis Boardroom Review”?

Feedback from captive boards to date validates the Regenesis Boardroom Review process as delivering:

  • Enhanced strategic focus and clarity of purpose
  • Improved board development
  • Greater clarity of the board’s role and the governance framework
  • Better operational focus related to strategic objectives
  • Stronger core documentation
  • And, most importantly, Headroom

Please contact Malcolm to discuss your captive board’s requirements.

Enables Boards to contribute much greater value to their organisation, their clients and the world by checking and confirming their own regulatory and functional integrity, and completeness:
  • RBR is a means of evaluating a captive board’s performance and competencies.
  • More importantly it identifies “headroom” – areas ripe for development that will lead to the biggest gains
  • It also enables the board, collectively and individually, to make declarations with confidence about the governance of the captive
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  • BRB is a means of evaluating a captive board’s performance and identifying “headspace” – areas ripe for development that will lead to the biggest gains
  • It also enables the board, collectively and individually, to make declarations with confidence about the governance of the captive
  • It is not intrusive, delivers findings based on documented outputs/outcomes rather than aspirational inputs
  • Findings are laid out in an easy to navigate report structure with suggested areas of development for the board’s consideration.
  • Can participate in a subsequent workshop to explore “headroom” opportunities
Checks the presence of required outputs necessary to fulfil its present potential to add maximum value to its stakeholders:
  • At the heart of RBR is an assessment tool that provides evidence-based outputs
  • Review of core documents
  • On line self-assessment questionnaire that directors complete in 30 mins
  • It is not intrusive, delivers findings based on documented outputs/outcomes rather than aspirational inputs
  • Findings are laid out in an easy to navigate report structure with suggested areas of development for the board’s consideration
  • Can participate in a subsequent workshop to explore “headroom” opportunities
  • Board remains in control at all times

  • At the heart of RBR is an assessment tool that provides evidence based outputs
  • Review of core documents
  • On line self assessment questionnaire that directors complete in 30 mins
  • Board remains in control at all times

Ensures the Board and Board Members can continue to grow and develop their efficiency and effectiveness throughout their lifecycle of service:

  • Any time of a board’s life cycle is suitable. But given tough market conditions, emerging risk and pandemic, never been a better time to conduct RBR
  • Takes 6 weeks in all. Simple time line is followed

  • Any time of a board’s life cycle is suitable. But given tough market conditions, emerging risk and pandemic, never been a better time to conduct RBR
  • Takes 6 weeks in all. Simple time line is followed

Behoves every Board Member to uphold their ambassadorial role to advocate and be lo be loyal to the extant mission, vision, values, and decisions of the Board, publicly and privately:

  • Can be undertaken remotely. Directors complete self-assessment on-line
  • Manager & Co Sec provide core documentation
  • RBR work handled remotely, report issued via email

  • Can be undertaken remotely. Directors complete self assessment on-line
  • Manager & Co Sec provide core documentation
  • RBR work handled remotely, report issued via email

Includes all who serve on the Board and Committees: Chair, Exec, Non-Exec, , Management team, Company Secretarial, or any person who has a substantive role in service to the Board:

  • Directors and Manager &Co Sec contribute
  • CWC (captive industry experts) and Thomas Welsh (board development coach) conduct the review and issue the report of findings

  • Directors and Manager &Co Sec contribute
  • CWC (captive industry experts) and Thomas Welsh (business coach) conduct the review and issue the report of findings

Guarantees Board Members are able to deliver their Fiduciary Duty (in law as professionals) to give of their best by giving them the tools to continuously develop themselves and their Board:

  • Developed in response to unique challenges of today
    • Scrutiny from regulator, shareholder and other stakeholders
    • Need to demonstrate board is aligned to business strategy, delivering value
    • Need to evidence effective governance
    • Hard market, covid 19, new risks (e.g. climate change, cyber)
  • RBR is proportionate to the scale and complexity of the captive. Affordable
  • Applies board best practice to captive industry market standards, other products are generic, subjective & lack rigour or over-engineered

 
Developed in response to unique challenges of today

  • Scrutiny from regulator, shareholder and other stakeholders
  • Need to demonstrate board is aligned to business strategy, delivering value
  • Need to evidence effective governance
  • Hard market, covid 19, new risks (eg climate change, cyber)

RBR is proportionate to the scale and complexity of the captive. Affordable

Applies business coaching best practice to captive industry market standards, other products are generic, subjective & lack rigour or over-engineered

 © CWC 2021. All rights reserved.

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Co. Reg. No. 60168 | © CWC 2021. All rights reserved.