Insurance Technology Featured Article

Eurobase Insurance Solutions' Synergy Picked by Arch Re Fac

December 10, 2012

A number of innovative solutions are available today which allows customers to exploit investments in technology for greater business agility and competitive advantage. Synergy (News - Alert) is one such solution from Eurobase Insurance Solutions which is a flexible suite of insurance software solutions, dedicated to supporting the needs of insurance underwriters, agents and brokers in general insurance, reinsurance, captive management and the London market.

Eurobase Insurance Solutions is a software and services provider and part of Eurobase International Group. In a release, the company announced that its Synergy solution was picked by Arch Re Facultative Underwriters, a property facultative reinsurance provider based in the U.S.

“Arch Re Fac's vision was to implement an underwriting and rating system on one cohesive platform. The flexibility of Synergy from Eurobase, tightly coupled with the QRS Rating System from GildedTree has provided a solid foundation to support Arch Re Fac's operations,” Kevin Richmond, products director, Eurobase Insurance Solutions said in a statement.

Following a competitive tender process, Arch Re Fac, part of one of the largest writers in North America, the Arch Capital Group, selected Synergy and GildedTree’s rating tool, GildedQRS. The combined solution was selected by Arch Re Fac as it delivers market leading functionality to give businesses control of rating logic and underwriting rules that complemented its new back office function.

Synergy provides high quality policy documentation and enhanced governance controls. GildedQRS provides a highly flexible rating engine. The platform will be used by up to 50 concurrent users within Arch Re Fac’s underwriting department in various locations across the USA, Canada and Europe.

“This implementation provides us with a strategic, operationally effective underwriting and rating platform.” Phil Augur, chief operating officer for Arch Re Fac stated.

Augur also ensured that the two firms worked well together to provide the best combined product. Augur also mentioned that the Arch Re Fac is looking forward to the productivity efficiencies that it will gain as a result of the implementation, and to a long and successful partnership with Eurobase and GildedTree.

Eurobase now has an exclusive agreement with GildedTree to provide the benefits of this integrated end-to-end system for specialty lines and assumed reinsurers.

Eurobase is a member of Microsoft (News - Alert) Partner Network with multiple competencies. The company’s next generation product suite, synergy2 provides a fully integrated, complete, end-to-end insurance administration platform, configurable to every business need.

In another release, Beazley, a specialist insurer providing clients with the highest standards of underwriting and claims service, recently switched to new version of Synergy software from Eurobase Insurance Solutions.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Brooke Neuman

Article comments powered by Disqus

Related Insurance Technology Articles

Summer Camp: A Paying Gig for Young App Testers

For most people, the thought of summer camp involves nature trails, canoeing, and for those of us raised on summer camp movies, payback delivered to the snooty camp across the lake or even burgeoning romance. But one summer camp actually puts young people's imaginations to work by testing apps and the like, and even going so far as to pay said young people for the time and effort involved. [ Read More ]
08/18/2014

Cyber Risk Insurance - Bridging the Gap between Insurance Providers and Companies Insured

The hottest topic in the insurance world today is "cyber risk insurance", or coverage for the response to and fallout from cyber crime and breaches. As Reuters recently highlighted, the cyber insurance market is set to double in 2014 over 2013 - heady times indeed for a traditionally slow-growth industry in search of new markets. [ Read More ]
08/14/2014

Usage of Telemedicine to Increase in US, says Towers Watson

Telemedicine technology is catching up very fast all over the world, making use of IT to exchange medical data to deliver consultations, procedures, exams and monitoring services over vast geographic distances. [ Read More ]
08/12/2014

American National Launches Social Business Program with Hearsay Social

American National Insurance Company, founded in 1905, has announced the launch of a social business program in association with Hearsay Social, provider of enterprise-ready solutions to build business through social sales and marketing. [ Read More ]
08/12/2014
FREE Insurance Technology enewslettter.

Events

Weekly Live Demo
Contact Center Solutions

Register Today!