Xuber, Xchanging’s insurance software business, announced that it has been appointed by P/C reinsurer Ariel Re to provide “the Xuber ‘for Reinsurers solution suite’ for the company’s Lloyd’s and Bermuda businesses.”
Xuber said the “six year contract will see the roll-out of Xuber Policy, Xuber Claims, Xuber Billing and Xuber Ceding, a single end-to-end solution with the complete functionality to support Ariel Re’s current business and future growth.”
The software will provide the following benefits:
• Increased automation of business processes and improved efficiency through Xuber’s rules driven architecture
• Improved compliance with the exchange of data between different systems
• Ability to launch new products quickly via product templates
• Entry to new markets through configuration packs
• Enhanced view of data and analytics with Xuber’s single data model
Xuber is working in partnership with Deloitte in delivering the implementation and migration services.
The bulletin also noted that Ariel Re’s technology requirements “are spread across multiple platforms due to the merger of Bermuda-based Ariel Re with Lloyd’s Syndicate 1910 (Arrow) in 2012. The existing applications lacked the full functionality needed to support Ariel Re’s current and future business operations. Xuber provides Ariel Re with an open, flexible and above all, configurable software platform to enable increased operational efficiency.”
Ariel Re’s Chief Information Officer Simon Lyon said: “Following a two-month on-site study to map our exact requirements and our analysis of other software providers, we are pleased with our decision to select Xuber and Deloitte to implement Xuber as our new (re)insurance software platform. We believe this will provide us with a world-class solution designed for the future through its fully integrated, end-to-end structure that can scale and adapt to our growth strategy across markets.”
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