11 January 2024

Phinsys empowers Inigo's tech-driven infrastructure

Written By Phinsys Limited

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.

 

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