Lloyd's of London deploys Methodware for risk management
Lloyd's of London, the world's leading specialist insurance market, has selected Methodware's Enterprise Risk Assessor (ERA) risk management software tool to assist in the co-ordination of risk management activity across the Franchise.
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Martin Price, Head of Methodware (UK) Ltd said about the purchase: "The Lloyd's contract is very significant for Methodware and, together with our other clients in the financial services sector including central, retail and private banks, mortgage lenders and asset managers, further cements our position as a major player."
ERA is fast becoming internationally recognised as a leading risk management software solution, having been implemented by companies across the globe. It is particularly being recognised as a software solution for the Basel II Capital Accord and the Sarbanes-Oxley Act in the USA.
The inherent flexibility of ERA allows risk managers to adapt the assessments to suit their own particular requirements, without having to undergo expensive and time-consuming customization.
The Franchise Board at Lloyd’s is responsible for managing the risks to the Franchise to an acceptable level and the presence of a strong risk management capability is considered central to the security and profitability of the Franchise. The introduction of the risk management framework, supported by ERA, will provide a structure within which risk management processes and activities undertaken across the Franchise can be aligned.
Methodware applications are available in English and Spanish and have been implemented in over 1000 companies in some 60 countries.