London, UK, 21 August 2015 - Eurobase International Group today announced that Eurobase Insurance Solutions was selected by Barents Re Group (Barents Re) to support its aggressive international expansion strategy. Barents Re is known for its disciplined and analytical underwriting, which now will be supported by synergy2, the end-to-end administration platform.
Barents Re is one of the world’s leading independent marine and non-marine reinsurance groups, with a strong underwriting philosophy underpinning their range of services including the structuring and execution of reinsurance and other forms of risk transfer.
Founded in 1996, Barents Re is the largest private-sector reinsurer in Latin America and operates regional offices in Miami, Paris, Beirut, Rome, London and Madrid with partners in 52 countries. Barents Re had administered its business via a number of different processes and data capture applications. Seeing rapid growth in its operations, the business began to look for a robust, single end-to-end administration platform to support the demands of an evolving, multi-region business.
Barents Re created a thorough competitive tender process and at the completion of a successful study in October 2014, selected synergy2, which will go-live during Q3 2015.
Barents Re selected synergy2 for its ability to produce comprehensive business performance and aggregations across the Barents Re portfolio, for its robust credit control features, and for the integrated nature of the system covering the needs of both facultative and treaty.
Barents Re expects to achieve a number of immediate efficiencies in its billings and premium collections and the new platform will support system users operating from any regional office. The business will also benefit from streamlined processing through to finance and consolidated reporting across all lines of business.
Sales Director Paul Buckle of Eurobase Insurance Solutions said, “We are delighted to be awarded the Barents Re contract. We are working collaboratively with Barents Re to implement synergy2’s comprehensive functionality over a relatively short timeframe. We look forward to a long and mutually beneficial relationship with Barents Re.”
Eurobase Insurance Solutions offers products covering captive insurance, specialty lines, reinsurance, and general insurance. Its synergy2 software platform provides underwriting, claims, reinsurance, credit control and reporting through a suite of integrated modules to support a genuinely end-to-end insurance process. Fully configurable to individual business needs, including governance controls and workflow, synergy2 is a flexible and agile platform.
Barents Re’s aggressive regional growth emphasizes the increasing importance for reinsurers to partner with vendors like Eurobase, whose successful delivery track record and continuous investment in their products and services ensure that their clients are equipped with the tools necessary to flourish in an increasingly competitive market.
For further information, please contact:
Zuhamy Villaseñor
Group Marketing Director
Eurobase International Group
T: +44 (0) 1245 496 706
M: +44 (0) 78841 86563
E: zuhamy.villasenor@eurobase.com
NOTES TO EDITORS
About Eurobase Insurance Solutions
With its long-standing experience in its chosen market sectors, Eurobase Insurance Solutions is a leading global provider of insurance software solutions, with customers in more than 25 countries across 5 continents.
Extensive knowledge of the insurance, reinsurance and captive industries means Eurobase Insurance Solutions’ packaged application software can readily support clients’ business needs. Teams of delivery experts ensure the system is deployed rapidly, meaning customers can swiftly capitalise on business opportunities in their chosen markets in a cost effective way.
synergy2 from Eurobase supports the complete business life-cycle on a single modern platform.
Benefits include:
- Increased productivity
- Improved customer retention
- Flexibility for growth
- Superior customer service (99% customer satisfaction)
- Speed to market
Eurobase Insurance Solutions is part of the Eurobase International Group of companies, a global software and services group.
For more, visit: http://www.eurobase.com/insurance
About Eurobase International Group
Eurobase International Group is a global software and services group. The group operates across a broad range of markets in four divisions:
- Eurobase Insurance Solutions, including insurance and reinsurance;
- Eurobase Banking Solutions, including FX, MM, treasury;
- Eurobase Consultancy, including general IT consultancy and technical services; and
- Eurobase People, a specialist IT recruitment consultancy.
Established in 1988 and headquartered at the heart of the Insurance and Banking district in the City of London, Eurobase supports a wide range of clients throughout the world. Eurobase prides itself on the strength of its partnerships with leading technology providers such as IBM, Oracle, Microsoft and Hewlett Packard.
For more information, visit http://www.eurobase.com
About Barents Re Group
Barents Re, in conjunction with Barents Re Risk Management, is a leading independent reinsurance group. The group provides a wide range of niche and specialty reinsurance products including to property and casualty insurers, and accident and health insurers. Barents Re has a well-established presence in Latin America, Europe and in the Middle East North Africa region (MENA) and operates from a network of offices in Panama, Miami, Paris, Beirut, Madrid, Rome and London. This translates into more than 500 reinsurance connections worldwide. Their clients include some of the world's largest insurance companies, as well as financial institutions, public entities and global corporations. Barents Re's portfolio is geographically diversified; it does business in over 52 countries.
For more information, visit http://www.barentsre.com
