PRZOOM - /newswire/ -
London, United Kingdom, 2013/04/08 - Markel has rationalised and consolidated its many lines including historical acquisitions, Lloyd’s, companies and non-bureau business on to one system supporting hundreds of users worldwide. The new system has just gone live - Sequel.com.
The major insurance and technology implementation has moved international insurer Markel seamlessly from many systems to just one single business platform.
As part of this process Sequel helped Markel to move its eight core policy administration systems, 12 sub-systems, over two million policies and legacy data accumulated over forty years on to one system running on Eclipse Underwriting. Sequel delivered key functional enhancements to the Eclipse application and worked with Markel to streamline their business processes. The implementation, supported by Sequel’s user training, project management and IT consultancy completed this major modernisation programme.
“This was a major insurance and technology implementation - now we’re running all Markel’s business on just one platform,” says William Stovin, President and Chief Operating Officer, Markel International. “Sequel have delivered what they promised. Their staff worked closely with ours and have created a strong platform that will serve external and internal clients more effectively. Eclipse will help us grow our business, strengthen our distribution channels and optimise our business processes.”
“It is significant that a large insurer such as Markel has chosen to rationalise and run its wholesale operations on just one system,” says Michael Graham, Sales and Marketing Director, Sequel. “We worked closely with Markel so it could move seamlessly from multiple heterogeneous systems to the benefits of running its business on one modern and powerful software platform.
“Markel’s new system brings it solid commercial advantages and an even stronger operational base. This gives the insurer the edge in an increasingly competitive and regulated market,” Graham concludes.
Markel International Limited is a specialist insurer. With offices in the UK, mainland Europe and Asia Pacific, it comprises the international operations of Markel Corporation and wrote gross premiums in 2012 of $888 million. It has seven operating divisions writing business either through Markel Syndicate 3000 or through Markel International Insurance Company Limited. Markel Corporation is a US listed business, capitalised at around $5.0 billion, which in 2012 wrote gross premiums of $2.5 billion.
Founded in 1993 and headquartered in the City of London, Sequel Business Solutions Ltd (sequel.com) are award-winning insurance and reinsurance software specialists. Sequel’s customers are underwriters and brokers within the Lloyd’s, Companies and international insurance/reinsurance sector. The list of customers Sequel has worked with includes:
• ACE INA Services UK Ltd
• Alterra at Lloyd’s Services Ltd
• Argenta Syndicate Management Ltd
• Ascot Underwriting Agency Ltd
• Berkley Re UK Ltd
• BMS Group Ltd
• Brit Insurance Holdings Plc
• Canopius Managing Agents Ltd
• Cobra London Markets Ltd
• Cooper Gay Swett & Crawford Ltd
• Dashwood Brewer & Phipps Ltd
• Dual Corporate Risks Ltd
• Equinox Global Ltd
• Faraday Underwriting Ltd
• Global General & Reinsurance Co. Ltd
• Jubilee Managing Agency Ltd
• Kiln Group Ltd
• Markel International Ltd
• Marsh Ltd
• New India Assurance Company Ltd
• Novae Group Plc
• Omega Underwriting Ltd
• Pioneer Underwriting Ltd
• Randall & Quilter Investment Holdings Plc
• Shelbourne Syndicate Management Ltd
• SSL Insurance Brokers Ltd
• Starr Underwriting Agents Ltd
• Willis Group Holdings Ltd
Sequel are known for their industry expertise, professionalism, and track record for delivering successful transformation programmes ‘on time and on budget’.
Sequel deliver a powerful suite of software solutions Eclipse - for insurers, reinsurers, brokers, MGAs, coverholders and start ups operating across the Lloyd’s, Companies and international (re)insurance markets.
Eclipse is a strategic suite of business applications built with 100% Microsoft technology that share a common business and technical architecture all of our products have been designed with open architecture to enable easy access to information and simple connectivity with other systems. This enables customers to have a comprehensive, holistic view of their business.
Sequel’s products have been designed and developed by our insurance experts, in partnership with underwriters, brokers and MGAs. By combining process efficiencies with innovative analysis and reporting capabilities, Sequel’s products give customers control over their business information so they can make decisions quickly and with confidence, as well as taking market and regulatory changes in their stride.