11 January 2024

Phinsys empowers Inigo's tech-driven infrastructure

Written By Phinsys Limited in InsureTech

Phinsys empowers Inigo's tech-driven infrastructure

London – 11 01 2024. Phinsys, the leading finance automation software provider for the

(re)insurance sector, has been selected by Inigo Limited (“Inigo”), the dynamic technologydriven

specialty insurance business, to deliver a digital, optimised finance and accounting

function.

This new partnership with Inigo underscores Phinsys' track record of delivering innovative

software solutions for all types of insurance enterprise. With a rapidly growing portfolio of

clients in the UK, US and Bermuda, Phinsys has emerged as a driving force for digital finance

transformation and efficiency in the industry.

Designed to speed up financial reporting and increase data accuracy, the platform delivers

management, statutory and regulatory reporting, including UK and US GAAP, Solvency II and

IFRS 17. The Phinsys platform will enable Inigo to make informed and forward-thinking

decisions that help shape the future of its business, enhance efficiency and enable further

sustained growth.

Stuart Conibear, Chief Commercial Officer at Phinsys, commented, "Inigo's focus on data

science and digital transformation resonates perfectly with our vision of harnessing technology

for smarter financial control. Phinsys remains committed to delivering advanced solutions to

companies throughout their evolution, and we look forward to working with Stuart and his team

in supporting Inigo's continued growth."

Stuart Bridges, Chief Financial Officer at Inigo, said, "Inigo's vision is to create a fully digital

insurer with data science at its core. The Phinsys platform plays a crucial role in helping us

achieve this goal, providing us with state-of-the-art tools and technology needed to enhance

our data and streamline our financial processes and reporting."

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 any general ledger. The accuracy and transparency of accounting processes such

as 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 understand better where to invest their time and money.

 

Up Next ...
21 November 2024

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

21 November 2024

Machine Learning: Revolutionizing Fraud Detection in Banking

These technologies enable financial institutions to analyze vast amounts of transaction data in real-time, identify suspicious activities, and minimize false positives...

21 November 2024

MeaWallet Partners with Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs

The collaboration is set to strengthen digital wallet payments and secure card data access capabilities for fintechs

20 November 2024

Atome Financial Secures $200M Credit Facility to Drive Growth

Atome plans to use the funds to strengthen its technological capabilities and grow its market presence, particularly among underserved, young consumers...

More in InsureTech

Juniper Raises £1.5mn in Pre-Seed

21 February 2024

Juniper, a London, UK-based reproductive healthcare insurance provider, raised £1.5mn ...

InsurTech startup Cake secures $1.3mn

19 February 2024

Cake, a transactional marketplace designed for independent insurance agents.In brief:- ...

Aviva partners with TechPassport for enhanced innovation

24 January 2024

TechPassport is extremely proud to announce their partnership with Aviva ...

Insurtech unicorn Zego launches business van insurance

17 January 2024

The tailored solution for van drivers sits alongside a range ...

White Papers InsureTech

InsurTech 2.0

20 December 2021

During the last decade (2010 – 2020) we observed the rise of the first InsurTech players. Fuelled by...

White Papers InsureTech

InsurTech: the new insurance model

20 December 2021

Thus whitepaper, Insurtech: The New Insurance Model, examines how insurtech is disrupting the tradit...

Case Studies InsureTech

THE OXBOW PARTNERS INSURTECH IMPACT 25

11 September 2020

SOME THOUGHTS FROM OUR 2020 REPORT The insurance industry is in flux: Winning the ‘digital...

Case Studies InsureTech

THE OXBOW PARTNERS INSURTECH IMPACT 25

11 September 2020

SOME THOUGHTS FROM OUR 2020 REPORT The insurance industry is in flux: Winning the ‘digital...

There are no Events in this category