Ariel Re adopts reporting platform

Ariel Re has selected a suite of finance and accounting products to streamline its operational and financial processes, and to automate its reporting.

Phinsys said Bermuda-based Ariel Re was the latest insurer to implement its platform, which was designed to help companies combine data from legacy system and disparate data sources, reducing the need for manual processing.

Gavin Bishop, chief operating officer of Ariel Re, said: “As we increase our capacity and expand our client offerings, the ability to smoothly integrate and process key data quickly and cost-effectively is critical to supporting our scalability.

"Legacy systems and manual processes can be cumbersome when looking to ensure a rapid, accurate financial close process and perpetuate the need for additional time spent and controls that can be avoided with integrated data flows."

Eric Butler, director, Americas and Bermuda of Phinsys, added: “The Ariel Re teams faced many of the common problems experienced by the other insurance businesses we deal with. We’re delighted to be working with Gavin and his team and help them achieve greater efficiency and control of their data and reporting”.