Gilchrist Standard was born out of the recognition that there was no overall indication of an insurance broker's quality in the market, that brokers had no means to ‘strength test’ or demonstrate their operational excellence and that, without a suitable system in place, stakeholders/insurers had no way to readily identify brokers that they would like to do business with.
Recognising the opportunity was the first step. Next came the process of identifying the various factors that impact upon operational quality, building the logic and interdependencies between these factors and creating a platform that captured the framework.
To help guide and inform the development of the critical factors, Gilchrist Standard worked closely with experienced subject specialists and industry bodies to critically analyse and define the questions needed to capture common pitfalls, identifiers, regulatory requirements, KPIs and mandatory elements that every broker should have.
Once the logic was complete, Gilchrist Standard set about building the platform, using the latest technology and proprietary algorithms to ensure that the model delivered the intended vision.
About Gilchrist Standard
The team behind Gilchrist Standard shares a vision and a desire to help organisations, and the market as a whole, move forward. We firmly believe that by benchmarking brokers against peers and an industry 'ideal', our platform can help mitigate risk and encourage better practices industry-wide.
We also believe that a universal indication of quality will help to encourage more open relationships and an increase in commercial opportunities for all those who use the Gilchrist Standard platform.