Beazley Deploys Eurobase Insurance Solutions' Synergy Software

By Jayashree Adkoli
TMCnet Contributor

Beazley, a specialist insurer providing clients with the highest standards of underwriting and claims service, recently switched to new version of ‘Synergy’ (News - Alert) software from Eurobase Insurance Solutions.

Eurobase Insurance Solutions, a part of software and services organization Eurobase International Group and a provider of insurance software solutions, offers the Synergy software that supports the complete life-cycle of a business on a single modern platform.

Some of the benefits offered by Synergy, as quoted by Eurobase, include: increased productivity; improved customer retention; flexibility for growth; superior customer service; and speed to market.

According to a press release, Beazley replaced its existing eRIS underwriting platform with a Synergy software, as part of a collaborative venture between Eurobase and Beazley. This collaborative venture, as said by officials with Eurobase, was to introduce Straight-Through-Processing via a new improved underwriting platform which would integrate to a number of strategic systems.

Beazley hopes that the successful implementation of this project would deliver a number of efficiencies to the underwriting process and will also support Beazley’s growth in the Lloyd’s market. Beazley is licensed to trade surplus lines insurance and reinsurance in the US and in over 65 territories worldwide, through its Lloyd's syndicates and service companies.

Ian Bishop, operations director insurance, Eurobase International Group, said in a statement, “Beazley has been a very good, long term customer of Eurobase. After 16 years, Beazley conducted a full evaluation of the market and chose Eurobase again as best of breed. Beazley has moved to our Synergy technology as part of its overall forward thinking strategy and focus on growth in the Lloyd’s market.”

Adam Cragg, head of UW and claims operations, Beazley, also said in a statement, “This implementation provides us with a strategic, operationally effective underwriting platform for our Lloyd’s business. This project was delivered on time and budget, supporting 400 users within Beazley across 8 countries, and serves as a testament to our long standing and successful partnership with Eurobase.”

As a software and services group, the Eurobase International Group operates across a broad range of markets in four divisions: Eurobase Insurance Solutions, including insurance and reinsurance; Eurobase Banking Solutions, including FX, MM, treasury; Eurobase Consultancy, including general IT consultancy and technical services; and Eurobase People, a specialist IT recruitment consultancy.

In related recent news as reported by TMCnet, Exvine – a social business software services and consultancy for the insurance market – unveiled a new platform designed to provide Brokers, Agents and Underwriters in the U.K. with access to rich information, collaborative networks and multiple transactional systems.