Eurobase Launches synergy2 - Specialty Lines and Reinsurance Administration Platform

London - 8 May 2013

Eurobase Insurance Solutions Introduces synergy2 - an Inspired End-to-End, Fully Configurable Specialty Lines and Reinsurance Administration Platform That Delivers a ‘Single Version of the Truth’

Eurobase Insurance Solutions (Eurobase), a leading global software and services provider to the global specialty lines and reinsurance markets, today announced the official launch of its next-generation platform, synergy2.

As a truly international industry, insurers and reinsurers are faced with a number of challenges: regional currency and tax requirements; stricter regulation; increased rating agency scrutiny; more stringent solvency requirements and the demand for a swift exchange of accurate information. The new synergy2 release comprises a fully integrated, complete, end-to-end insurance administration platform, configurable to clients’ business needs, from ‘paint your own screens’ to governance and business process workflow: everything needed to efficiently transact business without compromise.

synergy2 automates and measures the complete business lifecycle, from first notification of loss to final settlement. Including client management; underwriting, claims; reinsurance/retrocession; accounting and management information in a single system, synergy2’s framework and component system allows clients to ‘build your own system’. The platform caters for a wide range of classes including, but not limited to: property; motor; casualty; aviation; marine and other international; specialty; Lloyd’s and London market lines.

The release of synergy2 follows a multi-million pound investment in the development of Eurobase’s suite of Synergy software, and the successful commitment to the platform by client organisations. synergy2 has been recently been implemented as Saudi Re’s end-to-end reinsurance processing system; selected by Horseshoe Group for its underwriting platform, and will shortly be implemented by captive insurer, VICO.

John Wilson, CEO of Eurobase International Group commented, “We are delighted to demonstrate our commitment to the market through our substantial investment in synergy2. The market is already responding very positively to the product.”

Stuart Pembery, Business Development Director, Eurobase Insurance Solutions added, “Benefiting from an unprecedented level of configurability, flexibility, transparency and the ability to collaborate through tight SharePoint integration, synergy2 offers a great user experience.”

synergy2 operates across multiple currencies and regions; supports ACORD messaging and is easily interfaced with third party systems and mobile devices through 200 web services.

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