RPC Consulting acquires software and consultancy business Marriott Sinclair
RPC Consulting has acquired UK-based software and consultancy business, Marriott Sinclair.
The deal will see three of Marriott Sinclair's principals – Alun Marriott, Mark Sinclair-McGarvie and Jonathan Broughton – become Partners of RPC Consulting.
Marriott Sinclair, which was formed in 2012, provides software and actuarial consultancy to the insurance, banking, and wider financial services communities. The company has developed a software solution called tyche, a state of the art financial modelling tool that explores the many uncertainties affecting the financial outcome of projects, strategies or business opportunities. It helps to empower clients struggling with decision making, particularly in a regulatory environment demanding an ever greater awareness of risk.
Tyche’s ease of use complements a truly ground breaking and innovative design that results in, what we believe to be, the fastest platform in the market. Where users of other software are frustrated with run times that take hours, or sometimes even days, tyche offers a solution that runs in minutes or even seconds. This capability allows companies to use these models to inform business decisions – helping to improve overall performance and addressing one of the key requirements, the Use Test, under Solvency II.
Unlike anything the legal sector has seen, no firms to our knowledge have tapped into the financial analyst and insurance management consultancy markets previously, the three principals come from impressive backgrounds in banking, quant finance, systems engineering, and actuarial science. Alun, Mark, and Jonathan are true experts in their field and are able to give clients bespoke, yet highly technical and meticulous analysis and advice
RPC Consulting was established in early 2015. It offers actuarial and general management consultancy services to clients in the insurance sector and creates an alternative provider that is fiercely independent, has deep sector expertise and offers a strong insurance industry focus. RPC Consulting is one of the few totally independent consultancies serving this market and the addition of insurance software is a further distinguishing feature. This is also the first time a law firm has entered into the insurance and management consultancy market, significantly broadening the services we can provide clients.
RPC Consulting said "The team at Marriott Sinclair has significant expertise in the insurance consulting sector and its propriety software product, tyche, is a game changer in the insurance market. I have worked with the three Principals in the past and am delighted that they are joining us.
"The fit is perfect for RPC Consulting because it adds additional consulting capability and breadth to our current offering and provides an excellent software platform that will support much of the advisory work that we will provide to clients. The software is game changing in terms of speed and usability and as one of the only truly independent providers of these combined consulting and software solution in the market we see a significant differentiator for RPC Consulting."
Commenting on the deal, Alun said: "We're thrilled to join RPC Consulting. RPC has a great brand and in depth understanding of the insurance market. I believe that in partnering with RPC, we are now able to accelerate our goal to position tyche as the platform of choice across the insurance community and beyond."
Jonathan Watmough, Managing Partner at RPC said: "This is the next stage in the development of our consulting business and in RPC becoming a broad-based City professional services firm. While a number of others have entered into the management consultancy market, this is the first time a commercial law firm has provided insurance clients with a full menu of actuarial, risk and management consulting services, including the use of a technology solution like tyche."
The deal sees RPC Consulting gain access to a Research & Development base in Cambridge. Located in Chesterford Research Park, RPC Consulting will be part of a growing tech community.