News

IGI Chooses Xuber for Insurers to Help Build Business Agility and Significant Competitive Advantage

on 26 October 2015

LONDON AND AMMAN, 26th OCTOBER 2015Xuber, Xchanging’s insurance software business, today announced it has signed a deal with International General Insurance Co Ltd (IGI), to deliver an agile platform that will revolutionise processes, improve risk management and enhance underwriting for the global specialty insurance company.

Xuber will provide IGI with a new administration platform, Xuber for Insurers, powered by the OPEN Foundation. IGI has been using Xuber’s Iris administration system for many years, and Xuber for Insurers (previously known as OPEN Core Platform: Commercial), will enable IGI to further benefit from this relationship.

IGI is part of International General Insurance Holdings, an A- rated global specialty insurance company with operations in the United Arab Emirates, Bermuda, Jordan, Malaysia and Morocco, and a wholly-owned subsidiary in the UK.

Xuber for Insurers will be used by front-line underwriters in IGI’s London and global offices, as well as within the operations team in Amman, Jordan, which undertakes underwriting, claims and administration activities.

Hatem Jabsheh, IGI’s Chief Investment Officer, said: “We looked extensively at solutions from around the world, and concluded that Xuber for Insurers not only offered us an unparalleled breadth of functionality, but was also far more configurable than other options in the market.”

High costs and waste in the value chain are endemic in the (re)insurance industry. Alongside this challenge is the constant search to capture new opportunities and enter new markets. To address these challenges, (re)insurance companies are seeking to become digitally empowered. Xuber can help clients achieve this ambition through Xuber for Insurers.

Mr Jabsheh continued: “In order to compete in a world demanding more real time behaviour, insurers must become better at underwriting, risk management and aggregation. Xuber for Insurers will be a catalyst for change within IGI, enabling our team to become excellent in these disciplines, particularly as we expand our operations into new markets.

“Xuber for Insurers truly gives us the best platform for growth: it has great depth of capability across the entire value chain and is adaptable as we evolve our business. We expect the solution to help us build significant competitive advantage in our chosen markets, in both pricing and business agility.”

Phil Race, Chief Sales and Marketing Officer, Xuber, said: “We are delighted to be partnering with IGI, an expanding and innovative company which has a clear vision to extend its global reach, with progressive underwriting at its heart. We have worked hand-in-hand with the IGI team to craft a solution that will help the business, both now and as it continues to grow. The joint team effort has been significant, and has built the depth of knowledge and working relationship that are essential for mission critical projects such as this.”

Xuber for Insurers covers a wide range of business processes including CRM, underwriting, accounts, claims and both bureau and non-bureau messaging, for a wide range of speciality lines. It also has multi-currency, local language and multi-company capabilities, all presented via an intuitive web user interface, with the aim of powering the digital insurer of the future.

There are over 30 deployments of this solution globally, including some of the world’s leading insurers.

ENDS


To learn more, visit www.xuber.com

For further information, please contact:

Xuber
Angela Panuccio
PR Manager, Technology, Xuber
Tel: +44 (0)20 3604 3093
Angela.panuccio@xuber.com

Rein4ce
Mairi Mallon
Tel: +44 (0) 78430 76533
mairi.mallon@rein4ce.co.uk

Stephen Breen
Tel: +44 (0)7843 076556
stephen.breen@rein4ce.co.uk

About Xuber
Xuber is an international software business that has been a trusted provider of innovative specialist commercial insurance software, end-to-end, for over 40 years. Xuber forms part of Xchanging plc, the business technology and services provider.
Follow us on Twitter, LinkedIn and Google +.

About IGIH:
International General Insurance Holdings Limited (IGIH) is registered in the Dubai International Financial Centre (DIFC) with operations in the United Arab Emirates, Bermuda, Jordan, Malaysia, Morocco and a wholly owned subsidiary in the U.K.

IGI Bermuda is a class 3B (re)insurer regulated by the Bermuda Monetary Authority (BMA). This subsidiary is the principal underwriting entity for the Group. The Group also has a branch in Labuan, Malaysia, registered as a second-tier offshore reinsurer.

Both IGI Bermuda and IGI UK are rated A- with a stable outlook by Standard & Poor’s and A- (Excellent) with a stable outlook by A.M Best Company.

IGI Group of companies underwrites a worldwide portfolio of energy, property, marine, engineering, casualty, financial institutions, general aviation, ports & terminals, political violence and non-proportional reinsurance treaty business with the main geographical focus being the Afro-Asian markets.

IGIH has assets in excess of US$ 744 million as at 30th June, 2015.

For more information, please visit www.iginsure.com or email info@iginsure.com

###