Компания Xitus расширила внедрение системы INTX для управления сложными портфелями перестрахования

Xitus Expands INTX Re/Insurance System INTX Insurance Software announced the “continued expansion of the INTX [Re]Insurance Operating System within Xitus Re Ltd., the Bermuda-based P&C runoff reinsurer, as Xitus expands across increasingly complex portfolios, transaction structures and jurisdictions.” A spokesperson said, “At the center of Xitus’ assumed reinsurance operations is INTX Re, INTX’s purpose-built assumed reinsurance platform. INTX Re supports Xitus as it integrates and administers increasingly complex runoff portfolios within a connected enterprise environment, spanning treaty and facultative administration, premium and loss accounting, claims, capacity and financial operations. “The expanded deployment extends INTX as a common operating foundation across Xitus’ growing business, supporting the integration and administration of runoff portfolios transferred from major insurance groups while connecting policy administration, claims, financial operations, reinsurance, reporting and governance within a single operating environment. “For INTX, the expansion demonstrates a critical requirement of enterprise reinsurance software: the ability to scale beyond initial implementation as an organization adds portfolios, structures, legal entities, jurisdictions, and operational complexity. “Rather than introducing separate technology environments as new business is added, Xitus can extend the same INTX operating foundation across additional runoff portfolios and transaction structures. This enables the organization to grow while maintaining consistent processes, connected data, financial control, and operational visibility across the enterprise. “Xitus’ continued transaction activity provides a tangible example of that scalability. The company recently completed their transaction with a major U.S. insurance group covering a portfolio of U.S. excess worker compensation contracts. “The transaction is one of several Xitus is looking to complete as it expands its operations and footprint into new jurisdictions. Each additional transaction can introduce new claims histories, financial obligations, legal structures, reporting requirements and regulatory considerations, increasing the operational complexity that must be managed across the business. “Xitus initially selected INTX to establish a connected operating foundation for its global runoff, captive, Loss Portfolio Transfer, and Insurance Business Transfer operations. As the business has expanded, Xitus has continued to extend that foundation across new portfolios.” Jane Newton, Group CFO at Xitus, commented, “We are delighted to have completed this transaction, providing an economic and operational exit solution. This is one of several transactions which we are looking to complete this year, as we look to expand our operations and footprint into new jurisdictions.” A spokesperson added, “The continued expansion illustrates how INTX Re, the purpose-built assumed reinsurance system within the INTX [Re]Insurance Operating System, is designed to support complexity at the enterprise level. As runoff portfolios are transferred from major insurance groups, Xitus can bring those portfolios into a consistent operating framework spanning reinsurance administration, claims, financial operations, reporting and governance.” “Enterprise reinsurance software has to do more than support the business that exists on day one. It has to expand as the organization itself becomes more complex,” said Rob Lewis, Chief Executive Officer of INTX. “Xitus is demonstrating exactly that. INTX Re can expand with them within the broader INTX operating environment. That ability to support increasing structural and organizational complexity within one environment is central to what we built the [Re]Insurance Operating System to do.” A spokesperson added, “The expanded relationship between INTX and Xitus reflects a broader challenge across the insurance and reinsurance market. Completing a runoff transaction is only one part of the opportunity. Organizations must also be able to integrate and operate the transferred business efficiently while maintaining financial control, governance and visibility across an increasingly complex enterprise. “For Xitus, the continued expansion of INTX provides an operating foundation designed to scale alongside its transaction strategy, portfolio growth and geographic expansion. “For INTX, it provides a live example of the enterprise value of the [Re]Insurance Operating System and INTX Re: a unified operating environment designed to expand across portfolios, transaction structures, jurisdictions and organizational complexity without requiring fragmented systems around each new block of business.” Read More About Category: All, Business, technology