Each syndicate develops and executes an annual business plan aligned with its strategy. Baseline: the plan fits the medium to long term underwriting strategy and appetite; the board develops, challenges and approves it; all key stakeholders engage in and can challenge the planning; it assesses prior-year performance and current market conditions; assumptions and key risks are clearly stated and understood; the plan is kept under review with KPIs reported to the board at a suitable frequency, aligned to Lloyd's returns and explained in narrative; variances are acted on promptly with root cause analysis. Higher levels add an optimum business mix, an annual review of the planning process, granular KPI suites, stress and scenario test input, pricing-model data driving targets, operational KPIs such as pre-bind quality assurance, and bias challenge to reach a best estimate plan.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.