Built so risk teams and business teams work from the same report.
Context Visualised helps Lloyd's managing agents and London market insurers see how the business is really running.
In many firms, risk reporting lives in one place and business reporting in another. The board reads the plan, the claims and the capital in one pack. The risks sit in a separate one. While the two stay apart, risk struggles to become part of how the firm runs.
This is Halden's risk taxonomy: 79 risks, grouped the way the capital is. Each class carries its share of the £330m ultimate SCR, the capital its risks require. Insurance risk takes £244m of it, or 74%. A director can see where the capital goes, class by class.
ClickTap to explore Halden's risk landscape
Why outside appetite Large loss ratio to date, 18.1% (Underwriting)
Catastrophe: includes a £10m catastrophe buffer add-on (3% of SCR). Accumulation & aggregation: non-cat accumulations; cat events sit in catastrophe.
Why it needs attention Premium debt over 90 days, 4.2% of GWP (Counterparty)
Why outside appetite Out-of-authority binding, 23 (Operational); Wording exceptions not approved, 4 (Conduct & compliance)
Why within appetite AED duration gap, −0.4 yrs, inside its ±0.5 year band (Market & ALM)
Liquidity: managed through liquidity buffers, not capital.
Why it needs attention Coverage after 1-in-10 year loss, 128% (Capital)
The pill shows appetite status. The badge counts controls that are not fully effective.
Rating shown is residual risk. Likelihood A to E, impact 1 to 5, after controls.
Bars share one scale: the £330m ultimate SCR.
Source: risk taxonomy, risk register, controls by team, risk appetite, Lloyd's Capital Return (uSCR)
We call it RiskOps. In many firms, risk is a reporting exercise: one team writes it up, and the business reads it later. RiskOps runs risk inside the business's own reports and timetable, so people see the risk when they make the decision.
Are we on plan? Where could we lose capital? Which processes are failing, and who is fixing them? Every view drills down from appetite to KRIs, risks, processes, controls and committees.
We start from the numbers you have already sent to Lloyd's and your regulator, such as the Lloyd's Capital Return and the business forecast. The debate moves from whose number is right to what we do about it.
We draw the operating model as a tube map. At Halden, every stop shows its risks, controls, incidents and committees, and turns red when something fails.
We are building CoVi Analytics to work with the Copilot or AI assistant your firm already trusts. We don't bring a model of our own. Your IT team would approve a connector, not a new AI model.
Client work sits behind NDAs, so we build our own firms and run them in CoVi Analytics. Each will show how we deliver for a different kind of business. Halden, a fictitious Lloyd's managing agent, is the first. We publish its reports one at a time.
CoVi was founded in London in 2016 and took part in Lloyd's Lab Cohort 2 in 2019. We are based in London.
Our founder, Waleed Sarwar, is a Chartered Accountant with an engineering degree from Imperial College London. He worked on Solvency II policy at the Bank of England. He has served as interim Head of Risk at Liberty Mutual, Markel and Bupa.
He has seen risk from three sides. As an auditor at EY, checking the controls. At the Bank of England, working on Solvency II policy, including its transposition into UK rules, now known as Solvency UK. As a Head of Risk, running the function. CoVi Analytics is the view he wanted in each of those seats.
Who Waleed has worked with
