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For the board

See the business between board meetings, not only at them.

You sign off the appetite and the ORSA. You answer for both. CoVi Analytics gives you one view of the business with the risk read into it. Open it any time between meetings, and arrive knowing which question to ask.

Talk to us Follow Halden

Halden is a fictitious Lloyd's managing agent. We run it in CoVi Analytics and publish its reports one at a time.

The problem

You approve the strategy once a year. You see the business four times.

The pack arrives a few days before the meeting, built for that one meeting. The appetite you approved is written in prose, and the plan sits in a different paper. Joining them up is left to you, the night before. The PRA's ORSA statement (SS19/16) says the board owns the ORSA. For the 2026 Principles Board Attestation, Lloyd's asks boards to weigh quantitative data, not only a qualitative view. The pack gives you neither between meetings.

Today
  • A pack assembled once a quarter, for one meeting
  • Appetite in words, the plan in numbers, in separate papers
  • A heat map that says what is red, not why
  • Committees scheduled after the meeting they are meant to feed
What you need
  • A view you can open between meetings
  • Appetite measured against the plan you signed off
  • Each red traced to the risk, process and control behind it
  • A committee calendar that feeds the board in the right order
How we solve it

Start with appetite. Then see which part of the plan each red touches.

Halden's board view opens on appetite and shows the plan line each red touches.

Open a red on this page and it leads back to a team, a process and a named owner with a date.

Halden · Board view · 30 Sep 2026

Are we within appetite, and can we survive the bad years?

  • Appetite · 20 KRIs1073Within · approaching · outside

ExploreOpen an appetite area to see its indicators. Open an indicator for its risks and actions.

Areas are sorted by attention: outside appetite first. Three indicators link to a line of the 2027 plan.

Halden is fictitious. Source: risk appetite KRIs at 30 Sep 2026, 2027 business plan, ORSA 2026, risk register, governance calendar 2026, action log

Follow one red to the person fixing it.

  1. Out-of-authority risks: 23, against a limit of 15. Outside appetite.
  2. Ridgeway Underwriting bound risks in two territories outside its binding authority (INC-031).
  3. The annual audit that found it ran four months late.
  4. The coverholder audits control (C-137) is rated Ineffective. Owner: Head of Delegated Authority.
  5. ACT-038, remediate the Ridgeway breaches. Owner: Head of Delegated Authority.
  6. ACT-035, clear the backlog of six coverholder audits. Overdue.

One indicator, one coverholder, one failed control, two named actions. This is the part of the business a board pack rarely shows.

What changes for the board

Your risk team asks for three things. In return, the board gets appetite, the plan and the ORSA in one view it can open between meetings.

What your risk team asks of your board

  • Approve appetite as KRIs with thresholds, not only as prose.
  • Bring your questions from the view, not only from the pack.
  • Hold owners to the dates on their actions.

What your board gets back

  • One view of the business you can open any time between meetings, not a pack built once a quarter.
  • Appetite read against the plan you approved, and the ORSA on one page.
  • A committee build-up that shows which committees are scheduled after the meeting they feed.
  • The share of controls working, against the limit in your operational appetite.

How it works.

  1. We start from what the board has approved.

    The plan, the appetite statements with their limits, and the ORSA.

  2. We tie each red to the business.

    Each KRI to the plan line it measures, the risks it watches and the owner of each action.

  3. The owners keep it up to date.

    Each team updates its own figures and actions where it works, so the view is never a pack built for one meeting.

How we think differently

How we think differently

  • We start from your questions.

    Are we on plan? Can we survive the bad years? Who decides what, and in what order? The heat map comes second, if at all.

  • We use numbers already accepted.

    We fill the plan, capital and loss views from returns already submitted to Lloyd's and the regulators. The numbers in front of you are the ones the firm already filed. Your time goes on the decision.

  • Risk sits inside the plan.

    You approved one strategy. You should not have to read it twice in two languages.

Proof

See how the Halden board reads its business.

Each report starts with a question a board asks. Each one ends with what we did about the answer.

What Halden did: four committee inputs are out of sequence this year. Two met after the meeting they feed, and two more are scheduled that way. Halden is moving those committees earlier.

Want this view of your own business?

Tell us what your board is trying to see. We will show you how we would build it, using Halden as the starting point.

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Built by Context Visualised, in London since 2016, Lloyd's Lab Cohort 2. Founded by Waleed Sarwar, former interim Head of Risk at Liberty Mutual, Markel and Bupa, who worked on Solvency II policy at the Bank of England.

Sources (5)
  • PRA SS19/16 "Solvency II: ORSA" (November 2016; May 2026 update via PS13/26, effective 31 December 2026; paras 4.1 and 4.3 unchanged). Para 4.1: "The Board plays a crucial role in owning the ORSA process." Para 4.3: firms "are encouraged to use methods such as these": management information tools, such as ORSA dashboards, to "challenge the firm's solvency assessment and strategy.". www.prarulebook.co.uk
  • FCA PRIN 2A.8.4R (Consumer Duty, in force 31 July 2023). Annually, the governing body must review and approve the firm's report on the outcomes retail customers receive. www.handbook.fca.org.uk
  • PRA, "Insurance Supervision: 2026 priorities", Dear CEO letter, 15 January 2026. The general insurance cycle is softening; boards should keep underwriting discipline and "challenge management's assumptions robustly". www.bankofengland.co.uk
  • Lloyd's, "Guidance for 2026 Principles Board Attestation", January 2026. Boards attest against the Principles, considering "not only a qualitative view but also what quantitative data is available to support the assessment". www.lloyds.com
  • PRA SS19/16, May 2026 update. Current text of the ORSA statement; paras 4.1 and 4.3 as quoted. www.bankofengland.co.uk