Canopius Underwriting Agency (New York), a subsidiary of Canopius Holdings, Inc., has selected Insurity’s (Hartford) Insurance Decisions Suite as part a strategic initiative to modernize its U.S.-based business and achieve aggressive business growth goals. The company will deploy Policy Decisions, Claims Decisions, and Billing Decisions, as well as Insurity’s Insurance Enterprise View (IEV) data integration solution for data analytics and reporting, via the vendor’s software-as-a-service model.
“Insurity’s core solutions, including Insurance Decisions Suite and Insurance Enterprise View, combine robust functionality and ease of deployment with a world-class user experience,” comments Mark Allen, head of application management, Canopius Group. “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 new business and growing our market share.”
Insurity reports that the Insurance Decisions Suite and IEV will enable Canopius to:
- Support an aggressive growth and acquisition strategy;
- Leverage automated underwriting rules and real-time functionality to optimize risk assessment;
- Increase ease and speed of interaction with distribution partners; and
- Implement a single platform for all lines of business for improved efficiencies.
“Canopius Group 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 the Canopius Underwriting Agency,” comments Lani Cathey, senior VP, Insurity. “We are looking forward to building a long-lasting relationship that enables Canopius to achieve its revenue and growth targets and supports the initiatives of Canopius Global Risk Management.”
Canopius Underwriting Agency Inc., part of Canopius Holdings, Inc., is based in New York and will underwrite domestic U.S. facultative property reinsurance business on behalf of Canopius’ Lloyd’s of London syndicates 4444 and 958.