(View of the interior of the Lloyd’s building. Photo courtesy of Lloyd’s.)
Xuber, the insurance software business of Xchanging plc, has partnered with Moore Stephens Consulting to develop Xuber Rating, a software tool for commercial underwriting on the London Market.
The new tool has been designed as a component of Xuber Policy to help insurers measure the risk of providing insurance and the cost to customers, according to the vendor. Xuber Policy provides insurers with functionality to carry out pre-bind submission and quote management, post-bind processing, transaction management and policy administration. It meets customer demand by providing a complete end-to-end solution from a single supplier.
Xuber Rating represents the integration of the pricing and quoting engine component of Moore Stephens’ RuleBook application with Xuber’s software platform to create what the vendor terms a comprehensive rating capability for commercial underwriting. The addition of the RuleBook component provides London market customers with an alternative to complex pricing spreadsheets, instead offering them a more manageable, distributable and auditable rating solution, according to Xuber.
Richard Clark, Head of Business Development, Xuber.
“We are excited to offer Xuber Rating and its supreme functionality to the commercial market and underwriting community in London,” comments Richard Clark, head of business development, Xuber. “Xuber looks to partner with best-of-breed complementary vendors where possible, and in this instance Moore Stephens provides the perfect partner to transform Xuber Policy into an even more powerful software solution for our customers. Moore Stephens understands the dynamics of the complex commercial and London markets and are already familiar with many of our customers, having operated in the City for over 100 years.”
Paul Latarche, partner at Moore Stephens comments, “With our latest generation ratings engine, RuleBook, and our proven track record, aligned with Xuber’s expertise in the commercial insurance software market, we believe that the partnership will deliver a unique industry offering.”