We are delighted to announce the signing of a new customer – Pool Reinsurance, a private reinsurance company recognised world-wide as a leading example of public/private partnership in the disaster risk financing arena. Operating commercially, it is estimated that 90% of the UK’s terrorism insurance is currently reinsured by them.
Pool Re wanted to engage an experienced IT Managed Service provider who would deliver IT support, projects and technical services as well as SOC and SIEM services. The successful partner needed to enable Pool Re to take advantage of the latest technology and enable secure remote working for employees without compromising on data security, system integrity or inordinately increasing its IT spend.
Operating in a highly regulated environment, it was essential that Pool Re worked with a provider that had the ability, capacity and authorisation required by law to perform IT services and cooperate with regulators such as the Financial Conduct Authority (FCA). As an ISO 27001 and Cyber Essentials certified organisation, Conosco were able to demonstrate their commitment to delivering high-performing, secure solutions.
Margo Landells, Head of Pool’s Enterprise Risk Management says, “Pool Re engaged Conosco following a detailed tender process. We found them to be engaging, receptive to our requirements and professional, with a wide and extensive knowledge base. During on-boarding they worked tirelessly to schedule and deliver a smooth handover from the previous service provider. Thus far their cyber security offering and risk mitigation expertise has provided us with valuable insight into our potential vulnerabilities, and we look forward to working with Conosco and building on the excellent foundations we have already established.”
Due to the national lockdown, the tender submission and negotiation process took place entirely remotely. Maintaining strong communication was vital. Conosco and Pool Re stayed in close contact and collaborated effectively using a variety of technology including Google, MS Teams and RingCentral. Open and regular communication ensured that Conosco were able to meet the requirements and successfully put forward a tender that aligned with Pool Re’s vision.
In addition to Conosco’s 24/7/365 IT Support, Pool Re also benefits from the expertise of our Security Operations Centre (SOC). Our experienced Security Analysts are a readily available and reliable resource for Pool to utilise for all security queries. The continuous management and monitoring of their environment ensures Pool Reinsurance gets the best protection and experience out of the solution.
Hylton Stewart, Head of Security at Conosco says, “Conosco are thrilled to have been selected by Pool Re following a rigorous tender process. During the onboarding process, we conducted a deep and detailed review of their current cybersecurity posture, and are looking forward to providing a comprehensive range of cybersecurity services to further improve Pool Re’s security and risk mitigation strategies.”
About Pool Reinsurance
Pool Re is a private reinsurance company. It was established in 1993 by the insurance industry in the wake of the IRA bombing campaign on the UK mainland, following the withdrawal of cover from international (re)insurers. Structured as a mutual, its member insurers comprise the vast majority of insurers and Lloyd’s Syndicates who offer commercial property insurance in Great Britain. By reinsuring their terrorism risk to Pool Re, members can with confidence provide cover for losses resulting from acts of terrorism, regardless of the scale of the claims.