Ariel Re Goes Live with Xuber for Reinsurers
News Release -- March 01, 2017
Ariel Re Bda Limited announces the go-live of Xuber for Reinsurers,
forming the digital backbone of its reinsurance business
HAMILTON, Bermuda – 1 March 2017 – Ariel Re, member of Argo Group International Holdings, Ltd. (NASDAQ: AGII), today announced the launch of Xuber for Reinsurers platform across its Lloyd’s and Bermuda businesses. Xuber, part of CSC, replaces the existing legacy systems with a single instance platform performing end-to-end business processing and financial reporting for Ariel Re Bda Limited and Syndicate 1910 (“Ariel Re”).
The Xuber for Reinsurers platform provides Ariel Re with a modern and flexible architecture across Underwriting, Claims, Accounting and Ceding functions. Through increased automation, efficiency and flexibility, Xuber has enabled Ariel to optimise its business processes and increase responsiveness to market demands. Ariel 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 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.
Michael Doyle, SVP Operations, Ariel Re comments: “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. 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.”
Dave Jones, Partner, Deloitte comments: “The success of the programme is testament to the effective delivery model put in place by Ariel for this implementation. As a global consulting firm, Deloitte brought local market expertise in London and Bermuda, proven (re)insurance implementation experience and knowledge of the Xuber platform to help de-risk and accelerate this transformational programme for Ariel.”
Andy Lovett, Director, Xuber, a part of CSC, comments: “It was a pleasure working with a forward-thinking and progressive organisation like Ariel Re to achieve a common goal of delivering value from technology. Ariel Re had an ambitious timeline to migrate two policy administration systems in 18 months, along with the build out of complex messaging functionality. With resources based across multiple geographies and three organisations, each team individually contributed to design a future-ready, fully-integrated, end-to-end platform that can scale and adapt to Ariel Re’s strategy across multiple markets.”
ABOUT ARIEL RE
Established in 2005, Ariel Re underwrites a global portfolio of insurance and reinsurance business through offices in London, Bermuda, Atlanta and Kansas City on Lloyd’s Syndicate 1910 paper (A M Best: A, S&P: A+). The combined organisation employs approximately 100 industry professionals in Bermuda, London, and the US. More information on Ariel Re is available at www.arielre.com.
ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD
Argo Group International Holdings, Ltd. (NASDAQ: AGII) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in four primary segments: Excess & Surplus Lines, Commercial Specialty, International Specialty and Syndicate 1200. Argo Group's insurance subsidiaries are A. M. Best-rated 'A' (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo's U.S. insurance subsidiaries are Standard and Poor's-rated 'A-' (Strong) with a stable outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com.
Xuber is an international software house that has been a trusted provider of innovative specialist commercial insurance software, end-to-end, for over 40 years. Xuber forms part of Xchanging, a CSC Company.
Deloitte is a Global Consulting firm and strategic supplier to Ariel Re. Deloitte applies their industry acumen and technology expertise to lead application-enabled transformation programmes in the Global insurance and reinsurance industries. With a globally connected network of member firms and over 210,000 professionals in more than 150 countries, Deloitte brings world-class capability and high-quality service to clients, delivering the insights they need to address their most complex business challenges.