Collinson Insurance Services Limited
Annual report and financial statements

Strategic Report
Directors Statement of Compliance with duty to promote the success of the Company (S172 Statement)
The Directors are aware of their duty under s.172 of the Companies Act 2006 to act in the way they would consider,in good faith, would be most likely to promote the success of the Company for the benefit of its members as awhole and, in doing so, to have regard (amongst other matters) to:– the likely consequences of its decisions in the long-term;– the interests of the Company’s employees;– the need to foster the Company’s business relationships with suppliers, customers and others;– the impact of the Company’s operations on the community and the environment;– the desirability of the Company maintaining a reputation for high standards of business conduct; and– the need to act fairly as between members of the Company.
Corporate Governance
The Company maintains a corporate governance framework of Board and Committees to operate strategic andmanagement decision making. Terms of reference and levels of authority and escalation are clearly defined and acalendar of regular Board and Committee meetings are held. Information is provided to the Board in advance ofthe meeting and decisions and minutes are recorded.
The Board are committed to a robust culture of governance, conduct and ethics reflecting the values of the Companyand the Collinson Group. Decisions are made considering the impact on the long-term business strategy andconsidering the impact to multiple stakeholders.
Our Stakeholders(i)

Employees

The Company employs directly staff in its Irish branch, Navan, as well as benefits from UK employees who areemployed by Collinson to perform activities across the Group. Collinson operates a framework for employee
engagement, development, information and consultation. Investment in communication platforms has increased
the flow of communication across the business and enabled continued operations as the Group took the decision
for all staff to work remotely during the COVID-19 pandemic.
Employee engagement and well-being is paramount to the success of the business. Collinson undertake acontinuous employment engagement programme including performance, training and skills development. All
employees are required to undergo fit and proper assessments to complete annual mandatory training
programmes. We positively promote diversity in all areas of the business and support the health and well-beingof all staff.
We are committed to equal opportunities in employment and creating a workplace where everyone is treated withfairness, dignity and respect. It is our policy to ensure that all employees are treated no less favourably on thegrounds of disability and are not subject to unlawful discrimination. This policy applies to all aspects ofemployment including recruitment and selection processes, opportunities for training, development andpromotion, and terms and conditions of employment. Through its policies, the company ensures that entry into,and progression within, the company is based solely on personal ability and competence to meet set job criteria.
The company ensures that all our employment policies, practices and procedures are accessible for disabled
people, providing reasonable adjustment where appropriate.
As a direct result of the Covid pandemic and the need to manage costs, we have continued to place some roles on
the Government furlough scheme and equivalent employment support programmes across the regions we operate4Collinson Insurance Services Limited
Annual report and financial statementsStrategic Reportin. We have continued to consult with all staff on a regular basis maintaining open and transparent
communications regarding the impact of Covid on the operations and performance of the business.
Previous investments made in infrastructure, digital communications tools and hardware have made the transition
to home working as seamless as possible. We will continue to operate hybrid home and office working when
the restrictions are eased to enable flexibility and collaboration in equal measures.
(ii)

Suppliers and Outsourced arrangements

We outsource many functions including distribution, claims and assistance handling to external partners andsuppliers. We have a programme of due diligence and ongoing oversight of all outsourced arrangements.
Developing key strategic partnerships with our outsource partners has given us the ability to continue to grow andexpand our portfolio of activity.
We also outsource insurance administration, medical assistance and back-office functions to other entities within
the Group. Further due diligence activities were undertaken on all material outsource arrangements as a result ofCovid-19 to assess their operational and financial resilience.
Outsourced activity is closely monitored and overseen by regular management information and reviews ofrelevant operations. Commercial terms are negotiated and reviewed to ensure fair and market value.
(iii)

Clients

The Company has worked closely with its key clients with a particular focus on any impacts Covid-19 may have
had on their business activities. This has helped the Company to inform the recovery profile and associatedbusiness planning where it has exposure to travel insurance and travel related lines of business. The Company
also has sufficient resilience within its insurance portfolio to mitigate the impact of volume and associatedrevenue reduction due to Covid-19.
(iv)

Customers

The Company’s digital claims service and overall multi-channel service proposition for customers wasestablished well ahead of Covid-19. This capability, together with the investment in broader technology tosupport home working which was undertaken in the prior financial year has supported the operational resilienceof the business and made the adoption to a home working model seamless from an end customer experience
perspective.
(v)

Regulators

The Company is regulated by the Financial Conduct Authority. We have open and transparent relationships withthe regulators and notify any relevant events through the proper channels. We report quarterly to the FCA andmaintain adherence to all deadlines, complying with regulatory requirements and embedding relevant regulatorychange.
(vi)

Shareholders

The Company is owned by The Collinson Group Limited. The Company aligns with Collinson values andoperate business operations within group objectives. The Company reports to the Group on performance,business strategy and return on investment.

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