Argo Group subsidiary Ariel Re has launched the Xuber for Reinsurers platform across its Lloyd’s and Bermuda businesses.
Xuber replaces the existing legacy systems with a single instance platform performing end-to-end business processing and financial reporting for Ariel Re Bermuda and Syndicate 1910.
The company said that the Xuber for Reinsurers platform provides it with a modern and flexible architecture across underwriting, claims, accounting and ceding functions. It claims that through increased automation, efficiency and flexibility, Xuber has enabled Ariel to optimise its business processes and increase responsiveness to market demands.
Ariel said that it has realised a number of benefits that are directly attributable to this new platform, including: operating cost efficiencies, accelerated new product launch, enhanced data analytics due to single data model, and improved compliance.
Working with Deloitte as global systems implementation partner, and alongside Xuber’s product specialists, the programme team successfully delivered what it described as a complex and comprehensive solution within 18 months, from inception to going live on January 9, 2017, covering multiple geographies, markets and full suite of reinsurance and direct products.
“With the implementation of Xuber, Ariel now has a world-class reinsurance platform that delivers a fully integrated, end-to-end structure allowing us to maximise processing efficiencies, analyse information and scale to support strategy across markets,” said Michael Doyle, SVP Operations at Ariel Re. “Xuber and Deloitte both brought extensive experience in implementing software platforms, and working alongside each of them allowed us to benefit from this experience and also draw on their extensive industry knowledge.”
Ariel Re, Xuber, Lloyd's, Bermuda, London, Michael Doyle