Canopius Group has become the latest insurer to award a contract to data management and spreadsheet specialist ClusterSeven. Canopius has implemented ClusterSeven’s Enterprise Spreadsheet Management® (ESM) software to provide control for its key business spreadsheets and the data they manipulate. Canopius Managing Agents is one of the largest privately-owned managing agents at Lloyd's of London. This is the third contract win with a London-market underwriter by ClusterSeven in the last year.
ClusterSeven’s end-user computing management solutions enable insurers and financial institutions to maintain the transparency and integrity of their spreadsheets and data files in order to increase productivity and business insight and to reduce operational risk.
Mark Allen, Head of Business Information at Canopius, said: “Ensuring good quality data management is a fundamental requirement to support the continued success of Canopius. The real power of the software is its ability to embed appropriate data- and function-checks as part of our normal business practices. It is difficult to know how this could be done effectively without using this type of technology.”
Ralph Baxter, CEO of ClusterSeven, said: “We are delighted that Canopius has selected us to enhance its data quality assurance programme. As recent surveys* have shown, the insurance sector is dependent on spreadsheets to complement their core systems for specialist actuarial and finance functions. Increasing emphasis on data quality has exposed spreadsheet management as a major opportunity to improve data control and deliver efficiencies.”