2 March 2017News

Ariel Re launches Xuber platform for Lloyd's and Bermuda businesses

Ariel Re, a subsidiary of Bermuda-based Argo Group, has launched the Xuber for Reinsurers platform across its Lloyd's and Bermuda businesses.

Xuber, part of IT services firm CSC, has replaced the existing legacy systems with a single instance platform performing end-to-end business processing and financial reporting for Ariel Re Bermuda and Syndicate 1910.

The company said that the Xuber for Reinsurers platform provides it with a modern and flexible architecture across underwriting, claims, accounting and ceding functions. It claims that through increased automation, efficiency and flexibility, Xuber has enabled Ariel to optimise its business processes and increase responsiveness to market demands.

Ariel said that it 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 delivered what it described as a complex and comprehensive solution within 18 months, going live on January 9, 2017, covering multiple geographies, markets and a full suite of reinsurance and direct products.

Michael Doyle, senior vice president operations at Ariel Re, commented: "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.

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More on this story

8 February 2017   Specialty re/insurer Argo Group has appointed Ariel Re chief executive officer (CEO) Ryan Mather to serve as global head of reinsurance, following the recent completion of Ariel Re acquisition.
14 November 2016   The acquisition of Ariel Re adds the scale Argo needs to cope with the costs of operating within the Lloyd’s market, the company has revealed, stressing that the deal also makes it one of the top 12 underwriters at Lloyd’s.
22 May 2020   Hub International and Miller Insurance were the insurance brokers for the transaction.