London, 11th Mar, 2019: AdvantageGo the innovative commercial insurance and reinsurance software provider, announced that Verto Syndicate 2689 has adopted Exact, AdvantageGo´s exposure management insurance solution, to help them manage its exposure for its offshore energy book.
Verto was established in 2017 as a new Lloyd’s syndicate, with backing from Hampden and Asta as its appointed managing agent. It writes treaty reinsurance for cedants worldwide in areas including Property, Casualty, Marine and Energy and other Specialty lines.
Verto’s growth plans require a rigorous exposure management solution to enable it write a growing offshore energy portfolio whilst adhering to Lloyd’s controls and reporting requirements. AdvantageGo’s Exact solution was the product best suited to this task and Verto ‘went live’ with Exact in March 2018. Exact enables Verto’s underwriters to quickly and accurately visualise and interpret aggregate exposures across their entire book, ensuring that they are better informed at the point of decision-making.
One of the key features that makes Exact such a compelling proposition is its ability to swiftly and seamlessly connect to both internal and external data sources, meaning that Verto’s underwriters have all the information that they need at their fingertips. AdvantageGo’s pioneering, cloud-based Microservices also seamlessly integrate with Exact, to deliver up-to-the-minute intelligence and can be tailored to specific requirements.
“AdvantageGo’s professionalism, in-depth understanding of our business and extensive digital roadmap reassured us that we had made a future-proof choice. AdvantageGo demonstrated flexibility in all aspects of their offering and were able to react quickly and decisively to meet our aggressive timeline,” said Andrew Cunningham, Chief Pricing Actuary, Verto Syndicate.
“AdvantageGo’s expertise enabled the team to quickly demonstrate how Exact can automate our currently manual exposure management processes. Exact provides a map and a graphical-based reporting interface to significantly enhance our ability to comprehend our global exposures,” said Alex Kiy, Actuary, Verto Syndicate.
“We are delighted that Verto chose AdvantageGo as its strategic IT partner as they build up their book of business,” said Adrian Morgan, Executive Vice-President and Head of AdvantageGo at Coforge. “We look forward to a continuing close relationship with Verto as they start to explore other AdvantageGo systems and Microservices to support their growth.”
About Verto Syndicate 2689
Verto Syndicate 2689 has been established for the purpose of deploying Private Capital through the underwriting of proportional reinsurance contracts for Lloyd's syndicates and Non Lloyd's clients. For further information, please visit https://www.vertounderwriting.com/#who-we-are
AdvantageGo is the innovative commercial insurance and reinsurance product family from Coforge. It harnesses the power of proven, functionally-rich core solutions and augments it with the energy and culture of being an InsurTech leader. AdvantageGo enables insurers and reinsurers around the world to fuse the traditional with digital, helping them to rapidly adapt, drive change and succeed with agile software and Microservices. For further information, please visit www.AdvantageGo.com.
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Coforge is a leading global IT solutions organization, enabling its clients to transform at the intersect of unparalleled domain expertise and emerging technologies to achieve real-world business impact. The Company focuses on three key verticals: Banking and financial services, Insurance, Travel and Transportation. This domain strength combined with leading-edge capabilities in Data & Analytics, Automation, Cloud, and Digital, is enabling its clients to drive business transformation.
With over 10,000 employees serving clients across Americas, Europe, Asia, and Australia, Coforge fosters a culture that promotes innovation and constantly seeks to find new yet simple ways to add value for its clients.
Learn more about Coforge at www.coforgetech.com.
Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.