Speciality insurance coverage and reinsurance firm Inigo has partnered with UK-based firm Phinsys to digitise and optimise its finance and accounting capabilities.
Phinsys, specialising in delivering progressive software program options, helps the worldwide insurance coverage and reinsurance business in streamlining finance and accounting processes.
The partnership additional reinforces Phinsys’ rising affect within the UK, US and Bermuda markets, the place it has been instrumental in driving digital finance transformation.
Phinsys will assist in enhancing Inigo’s monetary reporting accuracy and velocity, in addition to allow better-informed enterprise choices.
The software program offered by Phinsys will facilitate Inigo in managing a wide range of statutory and regulatory reporting necessities together with UK and US Typically Accepted Accounting Rules, Solvency II and Worldwide Monetary Reporting Requirements 17.
Phinsys’ platform additionally helps in bettering information precision, which is essential for regulatory compliance and strategic planning.
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With the implementation of Phinsys’ platform, Inigo is poised to make proactive and strategic enterprise choices.
The software program’s capability to consolidate information from a number of techniques right into a unified finance information warehouse, automate reconciliation and accounting entries, and improve the readability of accounting processes will likely be key to Inigo’s sustained development and effectivity.
As well as, Phinsys software program is predicted to refine expense allocations, incurred however not reported calculations, and the planning and forecasting of outcomes.
Automated regulatory and administration studies will supply Inigo deeper insights into funding methods, making certain that point and assets are allotted successfully.
Phinsys chief business officer Stuart Conibear stated: “Inigo’s give attention to information science and digital transformation resonates completely with our imaginative and prescient of harnessing know-how for smarter monetary management.
“Phinsys stays dedicated to delivering superior options to firms all through their evolution, and we look ahead to working with Stuart and his staff in supporting Inigo’s continued development.”
Inigo chief monetary officer Stuart Bridges stated: “The Phinsys platform performs an important position in serving to us obtain this objective, offering us with state-of-the-art instruments and know-how wanted to reinforce our information and streamline our monetary processes and reporting.”
