Summary

Deecon supported Starr in in bringing the contracts for its business-critical insurance brokerage platforms into line with evolving FCA and PRA requirements for third-party oversight. Following identification of contractual risks, Deecon implemented a structured, execution-led programme to conduct detailed agreement reviews, draft supplier-ready mark-ups, and equip Procurement with negotiation playbooks.

The result was an accelerated route to regulatory compliance for Starr’s brokerage platform agreements, together with a stronger baseline for all future contracting through updated standard terms and reusable negotiation templates.

The Requirement

Deecon was engaged by Starr to ensure the long-standing contracts supporting its business-critical insurance brokerage platforms met current and emerging regulatory requirements and expectations set by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Without action, Starr risked being unable to demonstrate regulatory compliance or manage a critical supplier effectively, exposing the business to potential financial penalties, operational disruption, and reputational damage.

Starr required detailed contract assessments, supplier-ready mark-ups and practical negotiation strategies to secure compliant terms efficiently.

The Solution

Deecon worked closely with Starr’s Procurement team, drawing on experience in financial services regulation, commercial contracting and supplier negotiation. The work included:

Strengthened standard terms and conditions: Deecon reviewed and amended Starr’s standard terms and conditions against current and emerging regulatory requirements and evolving industry-leading practice. This reduced immediate risk exposure while creating a stronger starting position for future contracts.
Contract review and gap analysis: A detailed review of each brokerage platform agreement was then conducted against the revised baseline, identifying all deviations, assessing the severity of each departure, and articulating the associated regulatory, operational, and commercial risks.
Contract amendment documentation: Detailed, supplier-ready mark-ups were prepared on a clause-by-clause basis for each contract, tailored to reflect variations in drafting structure and terminology across suppliers, and aligned to the agreed opening position. Deecon underpinned each amendment with a clear, plain English rationale explaining why the change was required, with reference to the applicable regulatory requirement and its impact, where relevant.
Negotiation playbooks: Each playbook combined supplier context - including relationship history, market context and financial position - with a prioritised set of issues and a structured negotiation framework. This grouped linked clauses and set out opening positions, fallback positions and non-negotiable requirements where regulation left no scope for compromise. Practical commercial levers and concessions were also identified to support deal progression without compromising regulatory protections.

The Results

Deecon delivered immediate and lasting value to Starr:

Accelerated route to compliance: The quality and practicality of Deecon’s deliverables enabled accelerated re-negotiations of the brokerage platform contracts and were highly regarded by Starr’s Head of Procurement.
Reduced long-term contractual risk: The revised standard terms and conditions reduced compliance risk for all future contract negotiations across its broader portfolio.