ReCentre. Our expertise. Is our people. Document No1 in the capability series. Insurance and reinsurance. Outsourcing and support leadership.

Transcription

1 Our expertise. Is our people. Regulatory. Financial. Support. Visit us at ReCentre

2 Contents manifest. Introduction. Since Our firm began mid last century and currently our expertise is employed by major corporations. - Including five reinsurance firms, and eleven insurance firms. Chapter No1. Regulatory. Our expertise in the regulatory field ensures increased efficiency in dealing with tasks. - Your management can focus on business. Chapter No2. Financial. Our expertise with financial tasks links goals with skills and enables efficiency through collaboration. - We can start today applying our skills. Chapter No3. Support. Our expertise with support tasks includes the one vital factor missing from competing submissions. - The skill to tightly integrate with a client. Page No2 of 19.

3 Fore words. From Telephone Regulatory. Financial. Support. Introduction.

4 Introduction. Leadership role. The ReCentre is not a fresh start-up - quite the opposite. Our firm began mid last century, in 1957, when Neville Littlewood began a general accountancy practice. The firm prospered through diligence and client care, and undertook a number of audits of reinsurance branch offices in the late 1960s and early 1970s. Those rigorous activities led to commissions by a number of reinsurance firms that as a result of the Insurance Act 1973, established operations in Australia from 1972 onwards. Further legislative changes were the business catalyst to expand our offerings to include direct insurance companies with a corporate presence in Australia. In March 1997, the growth of the firm required a move to larger premises in the landmark building, Australia Square. In that same month, it was felt that the specialised focus of the firm was perhaps better portrayed with a company name that reflected our specialty. The trading name chosen - ReCentre. Page No4 of 19.

5 Establishment cost efficiency. Faster start. Telephone Regulatory. Financial. Support. Chapter No1.

6 Points for the Board. Point No1. Increased efficiency. Point No2. Lower costs with faster start up. Point No3. Regulatory experts. Point No4. Our experts are ready to start now. Point No5. We enable your management to focus on your business. Point No6. Our relationship continues with the same skilled staff over a long period. Page No6 of 19.

7 Chapter No1. Regulatory expertise. The guiding goal of all insurance and reinsurance firms has been increased efficiency. This goal drives direction for global boards and staff key performance indicators. As new methods arrived, they were mined for all the percentage gains they promised. There were methods in logically managing business processes, there were the promises of automating processes with technology, and there were the cost savings promised by embracing the speed and collaboration of the internet. As experience has highlighted, promises are often diluted during implementation. In some ways, the business environment within a firm wanting to do business in Australia, is similar to the beginnings of the internet era where, in senior management's rush to encompass the opportunity, they become pre-occupied with planning the minutiae of the goal rather than focus on the opportunity itself. Your lower cost and faster lead-time goal is provided for by the regulatory skills and experience awaiting your enquiry. All you need to do is engage us as your regulatory partner. Engage us today, and senior management Page No7 of 19.

8 can immediately focus their skills on making a profit in the Australian market. The same for those seeking to increase support capacity in Australia - there is no need to find more office space, and fill with more staff. The regulatory tasks we can perform on your behalf include the following:- 1. Setup advisory. 2. Entity approval process management. 3. Entity management. 4. Liaison with APRA. 5. Compliance. 6. Statutory reporting. 7. Regulatory management. 8. Regulatory administration. With the growing sophistication in both insurance and reinsurance today, senior management has an understanding of where innovation occurs - and this is in flexibility. With our engagement, flexibility can extend from boardroom corporate strategy, right down to the daily tasks our staff perform. Australia is considered a safe social environment, has performed well during the Page No8 of 19.

9 crisis with its resource activities, has a well regulated business environment, and is in the business time zone of Singapore, Malaysia, Philippines, Japan, Korea, Hong Kong, Vietnam, and China. These highly regarded business advantages have attracted many overseas businesses of all kinds. In turn, this has lead to a skills shortage - so filling a new office here would face the added delay of skill recruitment. A company that engages our team gets the skill leaders in their field working with them from day one. - Page No9 of 19.

10 Link goals. With skills. Telephone Regulatory. Financial. Support. Chapter No2.

11 Points for the Board. Point No1. Our engagement links goals with skills. Point No2. We enable efficiency through collaboration. Point No3. You will be able to quickly seize in opportunities. Point No4. You choose each point for each service. Point No5. We can start today in applying our skills. Page No11 of 19.

12 Chapter No2. Financial expertise. True business leaders continually prove that success is the linking of goals with skills. Even with good intentions, others who fail to attain success with a project or penetration into a new country market, commonly lack the access to the skills needed. Through either representation or support, the engagement of our financial expertise enables client success through local regulation understanding, and also increased operational efficiency by cost cutting, collaboration, flexibility and skilled advisory. Firms which master collaboration with our ready high skills that are not the usual in-house norm, are able to operate more efficiently than their competitors, can rapidly adapt to a new set of regulations and be proactive to seize on changing business conditions. This opportunity-centric view applies especially to those firms wanting to quickly do business in the high growth market of Australia. The financial tasks we can perform on your behalf include the following:- 1. Financial management. 2. Financial reporting. Page No12 of 19.

13 3. Reconciliations and record keeping. 4. Year end statutory lodgments. 5. General ledger. 6. Technical accounting. 7. Creditors and payments. 8. Investment accounting. 9. Taxation. The business-centric path to increase capacity entails the slow recruitment of staff and the costly setting up of an office. The opportunity-centric path is the immediate engagement of our expert team, being choice driven in entry point of services needed now, flexible in responsibility and with the capacity to suit the daily workflow. Skills can be applied same day to the critical steps in reaching the desired goal. With our financial expertise at the ready, our team can be the catalyst for further profit seeking goals. Not properly lauded in boardrooms, but this is true innovation in insurance and reinsurance. - Page No13 of 19.

14 Integration. Is also a skill. Telephone Regulatory. Financial. Support. Chapter No3.

15 Points for the Board. Point No1. A comparison of supplier costs is simplistic. Point No2. Listed skills are just one factor for engagement. Point No3. Support staff must have high integration skills. Point No4. We currently integrate with five reinsurers. Point No5. We currently integrate with eleven insurers. Page No15 of 19.

16 Chapter No3. Support expertise. The notion of an outsourcing partner in any business is usually based on a crossindustry benign comparison on tasks and costs. Such a notion is generic at best, and fraught with frustration when simply applied to insurance and reinsurance firms. Usually such specialist firms looking for support entry points are not aware that tabled skills of potential suppliers are only part of a successful support engagement and only part of the potential cost savings. There is also the need to tightly integrate with preferred reporting formats, with required stationery, necessary data and information exchanges, workflow process, decision process trees and management of cultural issues. Such adaptabilities must be factored into the choice of a long-term support partner. Such choices are not of high importance for industries like manufacturing or transport but are vitally important in the sophisticated dealings of insurance and reinsurance. Our history of working with clients began in Our strong growth is testament to our ability to adapt to the unique ways of our clients. Our support team currently works with five Page No16 of 19.

17 reinsurance clients and eleven insurance clients. All very different in business needs, in relationship methods, and management culture. Without the ability to smoothly integrate support services, potential cost savings can be quickly eroded with frustration and mis-targeted deliverables. The support tasks we can perform on your behalf include the following:- 1. Claims processing and management. 2. Claims payments. 3. Risk management. 4. Payroll. 5. Serviced offices. 6. Secretarial support. Our support team is willing to put the time in to assess the needs of a new client - to precisely assign people, process information, timetables and deliverables. This combination ensures a multiplier effect today in the value of our support tasks. This tight integration with our client also ensures the future ability to change and adapt to new market conditions and new market regulations. Page No17 of 19.

18 ReCentre is a leading outsourcing and support solution for both insurance and also reinsurance firms: offered by Littlewoods Services Pty Limited. Sydney address is level 21, Australia Square, 264 George Street, Sydney, New South Wales Postal address is GPO 3973, Sydney, New South Wales Telephone Facsimile Australian Business Number Littlewoods Services Pty Limited is a Chartered Accountancy firm. Liability limited by a scheme approved under Professional Standards Legislation. All the text herein, layout design, corporate style, corporate colour, and the staff imagery may not be reproduced for any purpose, in any print or digital format, including for educational, without our prior express written permission. First published in All rights are reserved. Copyright Page No18 of 19. Visit us as to learn more.

19 Telephone Regulatory. Financial. Support. ReCentre