The U.K.’s Sirius, a leading provider of insurance software solutions, announced that the Folgate Partnership is now live on its Underwriting Agency System which “enables EDI connectivity with their brokers from a single system regardless of what IT system is used locally.”
The announcement summarized the advantages of the obtained through this integration as follows:
— Single Sirius system connects Folgate Insurance with underwriting agents
— System will reduce the time required to integrate brokers following acquisitions
— All back office & Accounts functionality now live on Sirius
— 340 users now live with more to follow by the end of 2005
“Based on the established Sirius for Broking (S4B) platform, the new system allows Folgate brokers using existing systems from Misys, Acturis, SSP or other providers to be instantly integrated within the group following acquisition. It also provides Folgate with a wide variety of routes to market for its products,” said the bulletin.
Folgate Chief Executive Andy Homer explained that the decision to develop a single broking and underwriting agency system will help the company to expand faster. “This is a major breakthrough for us because integration of broker’s legacy IT following an acquisition can take a lot of time and resources. With the new Sirius system, however, we now have in place one tailored solution that quickly and cost efficiently connects broker sites with the Folgate Underwriting Agency,” he stated. “What is even more exciting is Folgate’s ability to trade with all brokers and broker networks with agencies with Folgate Underwriting Agency. For Personal Lines products we have achieved the ‘virtual insurer’ connectivity which we have been working towards for the past 3 years.”
Mike Dodd, CEO of Sirius’s intermediary division added: “With consolidation continuing apace within the intermediary market it is vital for Sirius to be at the leading edge of efficient integration technology. By working with Folgate we have not only delivered a new system to meet all their needs but have also enhanced our own system’s capabilities at the same time.”
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