Eurobase Insurance Solutions' Synergy Picked by Arch Re Fac

By Meenakshi Shankar
TMCnet Contributor

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.

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