Spectrum has appointed Sequel, the London based insurance technology providers, to implement a new processing, management and administration solution for its Syndicates in run off.
Key to the new development is Sequel's Eclipse, a component based application tailored to the requirements of Lloyd's Agencies, London Market Companies and Brokers.
Flexibility to work across a range of closures was a fundamental factor in the choice of Eclipse. Spectrum was also impressed with its open reporting structure, measurement and control of all activities, automatic scheduling capability and with Sequel's overall pricing policy.
Stavros Martis, Spectrum's Chief Actuary, is in no doubt that the new system will provide total run off support over the next few years: "We were very impressed with Sequel's professionalism and they and Eclipse were a unanimous choice for our requirements. Not only are Sequel providing a system with increased efficiencies and improved service levels - but our overheads have been significantly reduced."