(Image credit: Julius Silver/Pixabay.)
Ascot U.S., a New York-based insurance and reinsurance company delivering specialty property/casualty and financial lines products to mid-sized commercial customers across retail and wholesale channels, has adopted the Phinsys (London) platform of intelligent finance automation tools. Ascot U.S.’s engagement with Phinsys marks a significant step in the company’s mission to modernize its business technology landscape and enhance its financial and accounting operations, according to a Phinsys statement.
Tim Gambocurta, VP, Information Management, Ascot U.S.
By partnering with Phinsys, Ascot U.S. has now successfully implemented the essential tools and capabilities needed to enhance its finance and accounting functions, according to the vendor. This includes a streamlined insurance data model optimized for the financial close process of U.S. entities as well as seamless integration with core insurance data sources and systems. This combination is designed to deliver enhanced finance management, improved reconciliation accuracy, comprehensive multi-currency support, and precise earnings calculations.
“Our collaboration with Phinsys marks a critical milestone in our ongoing mission to modernise our business technology landscape,” comments Timothy Gambocurta, VP, Information Management, Ascot U.S. “As a global specialty insurance and reinsurance group, it is imperative that we have digital platforms that seamlessly align with our precise functional requirements. We chose Phinsys for their deep expertise in the insurance industry and their demonstrated ability to deliver on those needs.”
Ensuring Resilience of the Finance Function
Eric Butler, Director, Americas & Bermuda, Phinsys.
“We’re excited to partner with Ascot U.S. and deliver a tailored solution that aligns with Ascot’s needs, while transforming the way they operate,” comments Eric Butler, Head of Americas and Bermuda, Phinsys. “We’ve truly enjoyed working with Tim and the Ascot U.S. team, and we look forward to a long-lasting partnership that ensures the future resilience of their finance function.”
Phinsy says the engagement with Ascot reinforces the vendor’s role in redefining finance and accounting in the insurance sector, and enables Ascot U.S. to enhance operational efficiency, address regulatory demands, and remain at the forefront of technological advancements.
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