Spectrum today announces successful completion of 'Eclipse' - the new processing, management and administration solution for Syndicates 1204 and 53 currently in run off.
Designed and delivered by Sequel, the London based Insurance technology providers, 'Eclipse' is a component based application tailored to the requirements of Lloyd's Agencies, London Market Companies and Brokers.
Flexibility to work across a range of syndicates was a fundamental factor in the choice of 'Eclipse' and early stage reports have so far been extremely favourable. Spectrum is impressed with its open reporting structure, measurement and control of all activities and automatic scheduling capability. 'Eclipse' connects to all functions within Spectrum and new users are already finding vast improvements in functionality and flexibility. As Spectrum reports: "we're moving on and 'Eclipse' is simply far more useful to us than our original application."
Spectrum's chief actuary, Stavros Martis, is in no doubt that 'Eclipse' will provide total run off support over the next few years: "It was imperative we made the right choice and in 'Eclipse' we have found a state of the art system that has become the backbone of Spectrum's whole run off process. I am very impressed with Sequel - not only have they provided a system with increased efficiencies and improved service levels - but our overheads have been significantly reduced."