Eurobase Insurance Solutions (Eurobase), a leading global software and services provider and part of Eurobase International Group, today announced that Arch Re Facultative Underwriters (Arch Re Fac), a property facultative reinsurance provider based in the USA, has begun to move into production with Eurobase’s underwriting platform, Synergy.
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.” said Phil Augur, Chief Operating Officer for Arch Re Fac. He added; “The two firms worked well together to provide us the best combined product. We are looking forward to the productivity efficiencies that we will gain as a result of the implementation, and to a long and successful partnership with Eurobase and GildedTree.”
Commenting on the project, Kevin Richmond, Products Director, Eurobase Insurance Solutions said, “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.”
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. A number of Eurobase clients including Newline Group, a Division of Odyssey Re, have chosen to implement the integrated solution.