Insurity’s enterprise suite and data integration solution will support Canopius’s US-based business in achieving its business growth goals
LAS VEGAS, Jun 08, 2015 – From the IASA Annual Educational Conference and Business Show, Insurity, Inc., a leading provider of core insurance processing and data-driven solutions, announced that New York-based Canopius Underwriting Agency (CUA), part of Canopius Group (Canopius) has selected Insurity’s suite of processing, data, and regulatory solutions for its U.S. based business.
Insurity will provide Canopius a modern integrated core processing environment with its Insurance Decisions Suite, including Policy Decisions, Claims Decisions, and Billing Decisions as well as its Insurance Enterprise View (IEV) data integration solution for data analytics and reporting. The solutions will be delivered in Insurity’s software-as-a-service (SaaS) model.
As part of a strategic initiative to provide agent service suited to its current and future needs, Canopius required a new system that enabled multi-channel agency interaction, along with improved workflow and related efficiency benefits. This is provided by Insurity’s Insurance Decisions Suite – a mature and proven solution, fully integrated to provide agency support across multiple platforms.
The Insurance Decisions Suite and IEV offer Canopius the enhanced ability to:
“Insurity’s core solutions combine robust functionality and ease of deployment with an excellent user experience,” said Mark Allen, Head of Application Management, Canopius. “By streamlining our processes, delivering an enhanced portal for agents, and providing extensive data management, analytics and reporting, Insurity’s solutions will enable us to focus more of our efforts on underwriting and growing our market share.”
“Canopius is one of the top insurers in the Lloyd’s insurance market and a leader in underwriting and cat modeling. We are pleased to support their U.S. operations through CUA,” said Lani Cathey, Senior Vice President at Insurity. “We are looking forward to building a long-lasting relationship that enables Canopius to achieve its revenue and growth targets and supports its risk management initiatives.”
Insurance Decisions Suite combines Insurity’s core processing platforms in a fully integrated solution, featuring prebuilt interfaces and the ability to deliver extensive content to enable the entire insurance process. The solution is configurable and scalable across continents to support the North American operations of Canopius. Additionally, Canopius will leverage the enterprise Insurance Enterprise View solution to obtain a single source of truth and place for data aggregation at the group level regardless of geography.
About Canopius Underwriting Agency
Canopius Underwriting Agency Inc. (CUA), part of Canopius Group, is based in New York and underwrites domestic U.S. facultative property reinsurance business on behalf of Canopius’s Lloyd’s syndicates 4444 and 958. Canopius Group is the global specialty lines platform of Sompo Japan Nipponkoa Holdings Inc., which has over $90bn total assets. It underwrites a diversified portfolio of specialty lines business from its operations at Lloyd’s and around the world, writing premiums in excess of £1 billion.
Insurity, Inc. enables property & casualty insurers to modernize their enterprise and achieve their business goals. Insurity’s core processing applications and data integration and analysis solutions are backed by rich insurance expertise and are in production with over 100 insurers, processing billions of dollars of premium each month. Insurity’s solutions address the needs of all carriers – from the Top 20 insurers to small or regional commercial, personal, or specialty lines writers, as well as MGAs. For more information about Insurity, call 860-616-7721 or visit www.insurity.com. Connect with Insurity on Twitter, LinkedIn and Facebook.