Ascot U.S, a P&C re/insurer part of Ascot Group Limited., has partnered with Phinsys, a finance automation software provider for the re/insurance sector, to modernise its business technology landscape and enhance its financial and accounting operations.
This partnership enabled Ascot U.S. to enhance operational efficiency, address regulatory demands, and remain at the forefront of technological advancements.
It also reinforces Phinsys’ role in redefining finance and accounting in the insurance sector, the firm stated.
Phinsys provides Ascot U.S. with a streamlined insurance data model optimised for the financial close process of U.S. entities as well as seamless integration with core insurance data sources and systems.
This combination, Phinsys explains, is designed to deliver enhanced finance management, improved reconciliation accuracy, comprehensive multi-currency support, and precise earnings calculations.
Timothy Gambocurta, Vice President Information Management at Ascot U.S. said, “Our collaboration with Phinsys marks a critical milestone in our ongoing mission to modernise our business technology landscape.
“As a global specialty insurance and reinsurance group, it is imperative that we have digital platforms that seamlessly align with our precise functional requirements. We chose Phinsys for their deep expertise in the insurance industry and their demonstrated ability to deliver on those needs.”
Eric Butler, Phinsys’ Head of Americas and Bermuda, added, “We’re excited to partner with Ascot U.S. and deliver a tailored solution that aligns with Ascot’s needs, while transforming the way they operate.
“We’ve truly enjoyed working with Tim and the Ascot U.S. team, and we look forward to a long-lasting partnership that ensures the future resilience of their finance function.”
