London – 28 07 2020. Phinsys, the leading finance automation software provider for the insurance sector announced today that it has strengthened its senior management team with the appointments of William Moore as chief financial officer and Michael Toran as chief operating officer.
The appointments follow a period of new client successes driven by the company’s growing reputation for finance transformation, its involvement with the Lloyd’s Lab and their partnership with PwC on IFRS17.
Commenting on his appointment, William Moore said: “I’m delighted to have been appointed CFO and to continue my work of the last 12 months in building the Phinsys business. We have strong financial credentials and are well positioned for significant growth opportunities in the UK, US and Bermuda.”
Moore joins the company after nearly 10 years at Credit Suisse in London fulfilling a variety of roles including Global COO of Credit Structuring and CFO of the Emerging Markets group.
Michael Toran, who will be helping to expand the US and Bermuda based businesses and located in Dallas, said: “I’m very excited to join Phinsys during this growth stage and look forward to expanding our core offering and consultancy capabilities. Our product suite solves many challenges that both CFOs and CIOs face on a daily basis, and Phinsys is primed for long-term growth and value creation.”
Toran previously held a variety of senior Finance and IT roles with Starr Insurance Holdings and American International Group, most recently as global chief Information officer in New York, where he was responsible for developing the overall enterprise architecture and strategic direction for Starr’s IT infrastructure, security, and systems applications.
Toran and Moore complement the existing management team comprising founder and chief executive officer Richard Tyler, chief commercial officer Stuart Conibear and global delivery director Neil Greenacre.
Richard Tyler commented on the appointments: “Following continued expansion of our business in the UK, Europe, North America and Bermuda, we are currently closing on a number of new clients. This means both our business and our clients will benefit from a strengthened management team to further enhance our software and service offering. Will’s experience of financial services and Mike’s track-record of delivering digital transformation projects, uniquely suit them both to helping lead Phinsys in our next phase of growth and development.”
Phinsys software enables insurers to conform data from multiple disparate systems into a single, scalable finance data warehouse and automatically reconcile and post accounting entries to their general ledger. The accuracy and transparency of accounting processes such as premium earning, expense allocations, IBNR calculations and the planning and forecasting of results are also improved, together with automated regulatory and management reports that enable insurance businesses to better understand where to invest their time and money.
