Leading Point Financial Markets, a specialist financial services business consultancy, has acquired LMMC, a data and transformation insights consultancy, focused on the insurance market, for an undisclosed sum.
The combined resources of Leading Point FM and LMMC create a full service consultancy to support servicing insurance clients at scale. With the onset of significant changes in regulations, including client conduct and GDPR, entry of FinTech&InsurTech competitors, and the uncertainty pressures of BREXIT, this deal serves a strategic purpose for Leading Point FM and the insurance industry.
“The acquisition of LMMC complements our mission of helping organisations tackle their data, compliance and operating model change requirements. Leading Point FM now has capabilities to use insights, research data and superior professional expertise across banking, capital markets and insurance sectors.” said RajenMadan, Founder and Managing partner of Leading Point FM.
The insurance sector is deeply impacted by the changing needs and expectations of consumers, digitisation, innovation and margin pressures. At the same time, growing requirements around data protection such as GDPR, Data Security, KYC and AML, require a sharp focus on upgrading data capabilities which include data management, operational intelligence and insight generation.
Phil Foley, Founder and Partner at LMMC says “Our work with insurers has focused on the Markets Modernisation (‘LMG TOM’) opportunity, with research and insights on fraud elimination, security, compliance and blockchains for (re) insurers, brokers, managing agents, MGAs, industry associations and service providers. Joining forces with Leading Point will strengthen our end-to-end execution capabilities and provide greater client value.”