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Duck Creek leads a new era in reinsurance software with its agreement to acquire the premier cloud-based solution, Prima XL

Prima Solutions — Tue, 28 Jun 2022 06:45:18 +0000

Duck Creek leads a new era in reinsurance software with its agreement to acquire the premier cloud-based solution, Prima XL

28 June 2022
News

Acquisition of Prima XL will expand Duck Creek’s global footprint across EMEA and APAC

Boston – June 28, 2022 – Duck Creek Technologies (NASDAQ: DCT), the intelligent solutions provider defining the future of property and casualty (P&C) insurance, today announces it has agreed to acquire Prima XL, France-based Prima Solutions’ flagship commercial reinsurance technology solution. Prima XL will further enhance Duck Creek’s value to current and future customers by simplifying reinsurance management. the transaction terms also include an agreement by Duck Creek to purchase Prima Compliance for Solvency II, a compliance solution which Duck Creek intends to continue offering in the French marketplace.

With the proposed acquisition of these two cloud-based, software-as-a-service (SaaS) solutions, Duck Creek will expand its global operations and local presence in the European (EMEA) and Asia-Pacific-Australia (APAC) regions, retaining core talent and operations in Paris, France to complement the company’s existing operations in the United Kingdom and Spain. Upon completion of the proposed transaction, dedicated Prima Solutions’ personnel will join Duck Creek to support Prima XL and Prima Compliance sales, customer success, and operations. The Prima XL reinsurance management solution will be available to insurance organizations operating on Duck Creek systems and systems other than Duck Creek.

Mike Jackowski, Duck Creek’s chief executive officer commented, “The insurance industry is undergoing a generational modernization of its technology infrastructure while organizations seek innovative ways to better manage the entire end-to-end insurance cycle in the cloud. Core systems for policy, rating, billing and claims are advancing at a rapid pace, and Duck Creek is a well-positioned leader here.” Jackowski continued, “In addition to our global core systems vision, by adding Prima XL to our product family, we are focused on accelerating insurance carriers’ technology goals by delivering evergreen, intelligent, cloud-based SaaS solutions that streamline and automate reinsurance operations.”

Julien Victor, CEO of Prima Solutions, would join Duck Creek as managing director, reinsurance management to continue leading the growth and expansion of Prima XL and Prima Compliance under Duck Creek’s stewardship. Victor said, “We are delighted to join the Duck Creek group. Existing and future clients will benefit from the international footprint of a leading insurance software vendor, combined with large and seasoned teams of functional and technical experts. I am convinced that this transaction will increase the leadership positions of Prima XL and Prima Compliance in their respective markets. “

As is customary, the transaction remains subject to the information and consultation processes of the relevant employee representative bodies in accordance with applicable laws.

About Duck Creek Technologies
Duck Creek Technologies (NASDAQ: DCT) is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

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L’article Duck Creek leads a new era in reinsurance software with its agreement to acquire the premier cloud-based solution, Prima XL est apparu en premier sur Prima solutions.

Analyze reinsurance portfolios profitability to ease renewals

Prima Solutions — Tue, 14 Jun 2022 09:14:18 +0000

Modernization

Analyze reinsurance portfolios profitability to ease renewals

Even a modern dedicated reinsurance software can lack reporting capabilities.
Every reinsurance professional needs to control costs, to calculate the profitability of his reinsurance contracts and to identify leverage points in order to negotiate renewals.

Most of the reinsurance systems on the market don’t offer these features.
To assess your reinsurance contracts profitability, you need to rely on a true analysis software designed specifically for the insurance sector that will allow you to manipulate your reinsurance data flexibly and dynamically for decision making.

To analyze your reinsurance contracts effectively, you want to

Connect the reinsurance software to the analysis software and use the data to calculate loss ratios

Today, insurers' information systems are composed of several different tools (policy, claims, accounting, actuarial...) so the analytics dedicated module should be agnostic and able to interoperate with any platform in order to retrieve and classify all the data needed.

Compare variables and calculate drill down at contract and even layer-level

Having a software with reporting capabilities and pushed analysis will not only make you more credible while renegotiating, but it will also allow you to calculate loss ratios, cleanse data, identify trends and simulate pricing. For example, while studying reinsurance contracts before their renewal, you need to analyze loss ratios by line of business (liability, property...) over a period of several years since with long branches, it takes many years to pay claims and stabilize the result. As a cedant, you also need to identify dependency on one or more reinsurers.

Make the right decisions

Reinsurance professionals need to rely on tools adapted to their market, with fields using insurance terminology, calculations already set up, standard and dynamic reports or dashboard ready to use and ready to be shared as well as graphical representations with drill down features to explore all portfolios and thus accelerate decision making and improve governance.

Your need

A technological partner with expertise in Business Intelligence and predictive analysis platforms for the insurance sector

Our teams remain at your disposal for a detailed demonstration or any further information on our solutions.

L’article Analyze reinsurance portfolios profitability to ease renewals est apparu en premier sur Prima solutions.

Prima Solutions has been ranked “Growth Champion” for five consecutive years!

Prima Solutions — Wed, 16 Feb 2022 08:15:36 +0000

Prima Solutions has been ranked “Growth Champion” for five consecutive years!

16 February 2022
News

PARIS— February 16, 2022 – – Prima Solutions, a leading provider of software solutions to the insurance and reinsurance industries, has been ranked as a “Growth Champion” for the fifth consecutive year. The company is ranked 55th in the IT sector and 348th in the overall ranking.
This multi-sector ranking, established by the weekly newspaper Les Echos in collaboration with the data institute Statista, honors the 500 most dynamic and successful companies in France.

With a growth of more than 200% over 4 years, Prima Solutions confirms its dynamism: “Our cloud platforms enable insurance companies to accelerate their digital transformation. This is a promising and exciting business sector. If you want to join this great adventure, we are recruiting new talents every year to support our development“, says Hugues Delannoy, President of Prima Solutions.

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L’article Prima Solutions has been ranked “Growth Champion” for five consecutive years! est apparu en premier sur Prima solutions.

With Prima P&C 9.10, Prima Solutions offers an open, cloud-based, and comprehensive solution for increasingly more efficient management of P&C claims and contracts

Prima Solutions — Thu, 13 Jan 2022 09:51:05 +0000

With Prima P&C 9.10, Prima Solutions offers an open, cloud-based, and comprehensive solution for increasingly more efficient management of P&C claims and contracts

13 January 2022
News

Paris, January 13rd, 2022 – Prima Solutions, a global insurtech group for insurance and reinsurance professionals, announces the release of version 9.10 of its cloud-based P&C insurance product management and distribution platform, Prima P&C.

This new version, unveiled during its Users Club last November, is part of the company’s objective of offering the gold standard solution for managing P&C claims and contracts. Version 9.10 supports the management of appeals covering all business needs, and it incorporates the latest regulatory updates. Above all, it expands the possible interfaces for an ever more complete and efficient user experience for insurers and policyholders.

Appeals management covering all business needs

Version 9.10 of Prima P&C marks the completion of work to provide insurers with a complete financial summary of property and casualty claims management, covering all scenarios of appeals. Now, all options are integrated into the application and fully configurable by the user, including conventional and free appeals. On the same screen, the manager can also create and process disputes and escalation procedures for a 360° view of its claims summary.

An application that is open to the business ecosystem

Version 9.10 of Prima P&C interfaces with many solutions to provide a comprehensive user experience, along with a wide variety of microservices.

For this new version, the integration work mainly involves the cross-functional modules offered by Prima Solutions, such as Prima Selfcare, the fully configurable communication portal developed by the company to facilitate communication between insurers and policyholders. Through interface with Prima P&C, policyholders (including companies and individuals) can quote, purchase, and view their contracts managed in Prima P&C.

Prima P&C 9.10 is also open to third-party applications for increasingly more efficient management of P&C claims and contracts. “One of our most recent connectors is the interface with Monk, the artificial intelligence solution for visual inspections and assessments of vehicles,” says Hugues Delannoy. “With its visual intelligence technology, Monk can detect, classify, analyze repairability, and assess damage, in order to direct the claim. This interface simplifies and speeds up the process for policyholders involved in a motor vehicle accident, and it improves the NPS (Net Promoter Score) and productivity of insurers. It’s truly revolutionary for this market!”

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L’article With Prima P&C 9.10, Prima Solutions offers an open, cloud-based, and comprehensive solution for increasingly more efficient management of P&C claims and contracts est apparu en premier sur Prima solutions.

Webinar replayAnalyze the profitability of your reinsurance contracts and make the right decisions

Prima Solutions — Thu, 04 Nov 2021 16:55:25 +0000

Webinar replay
Analyze the profitability of your reinsurance contracts and make the right decisions

Video

🎯 Are you in charge of managing reinsurance transfers and want to refine your provisioning strategy?

📊 Do you want to have a summary view of the profitability of your treaties and facultative policies?

Fill in this form and discover in the replay of our webinar how to analyze your reinsurance contracts. The video includes a demo of Prima XL, the cloud platform for managing all your reinsurance operations, and Prima Analytics, our cloud platform for insurance data analysis and rate simulation.

During this demonstration, you will discover several specific use cases, including how to identify overprovisioning and how to view the change in your loss ratio over multiple years following a natural disaster.

Complete the email below to access the full replay and to get additional information on Prima XL and Prima Analytics.

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L’article Webinar replay
Analyze the profitability of your reinsurance contracts and make the right decisions est apparu en premier sur Prima solutions.

Prima Solutions Canada moves closer to Montreal and adopts a hybrid work model

Prima Solutions — Mon, 13 Sep 2021 09:48:28 +0000

Prima Solutions Canada moves closer to Montreal and adopts a hybrid work model

13 September 2021
News

Paris (France), September 13, 2021 – The Canadian subsidiary of Prima Solutions, a global insurtech company for insurance and reinsurance professionals, is inching closer to Montreal with a move to the city of Brossard, famous for its vitality. After more than a year of 100% remote work due to the COVID-19 pandemic, Prima Solutions has adopted a hybrid work model that combines remote work with a collaborative workspace within the new premises. The goal is to promote the well-being and performance of its teams, while also meeting the company’s staffing needs.

The company had operated out of Saint-Jean-Sur-Richelieu (Canada) for more than 15 years. Prima Solutions Canada is the research and development center for Prima L&H, the cloud platform for life, health, and loan insurance, which supports the entire lifecycle of individual and group life and health insurance products, with total security and traceability across the entire value chain.

“Coming together to collaborate and create a community is at the heart of our company culture. Since the start of the pandemic and working from home, there have been an abundance of personal and corporate initiatives to bring people closer together. We wanted to prepare for when COVID-19 was finally behind us, and this move reflects our desire to come back together, without a screen separating us. Brossard’s extraordinary energy met our criteria for this new stage of development,” explains Edouard Lefebvre, CEO of the Canadian subsidiary of Prima Solutions.

Prima Solutions Canada’s new offices are located at: 4255 Boulevard Lapinière, Bureau 208, Brossard (QC) J4Z 0C7.

Caption: Doreen Assaad, Mayor of Brossard, Edouard Lefebvre, CEO of Prima Solutions’ Canadian subsidiary and Julie Ethier, CEO of DEL.

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L’article Prima Solutions Canada moves closer to Montreal and adopts a hybrid work model est apparu en premier sur Prima solutions.

Prima Solutions has reached over 5,000 followers on LinkedIn!

Prima Solutions — Fri, 12 Feb 2021 11:29:58 +0000

Prima Solutions has reached over 5,000 followers on LinkedIn!

12 February 2021
News

We would like to give a huge thanks to everyone who follows our LinkedIn page, likes our posts and shares our content. We really appreciate your interest and enjoy engaging with you.

We are so grateful for all the connections we have made so far and look forward to many more joining Prima Solutions journey.

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L’article Prima Solutions has reached over 5,000 followers on LinkedIn! est apparu en premier sur Prima solutions.

Prima Solutions makes the “Growth Champions” list for the 4th year in a row

Prima Solutions — Thu, 11 Feb 2021 10:57:18 +0000

Prima Solutions makes the “Growth Champions” list for the 4th year in a row

11 February 2021
News

Paris (France), February 11, 2021 – Prima Solutions, a global insurtech group for insurance and reinsurance professionals, has been ranked by Les Echos-Statista as #27 in the Growth Champions 2021 list for the IT/electronics sector in France, with an average annual growth rate of 40.8% between 2016 and 2019.

Prima Solutions ranks 159th overall in this multi-sector survey conducted by a collaboration between the newspaper Les Echos and Statista. The award honors the top 500 fastest-growing companies in France that have performed exceptionally well in terms of stimulating the French economy and creating jobs.

Hugues Delannoy, President of Prima Solutions, comments, “We are very proud to be recognized on this list for the fourth consecutive year. Thanks to the excellent work of our teams—whose commitment and resilience was thoroughly demonstrated in 2020—and the trust of our customers, we now offer a unique 100% cloud-based solution suite to help insurance companies speed up their digital transformation, and we haven’t stopped growing.”

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L’article Prima Solutions makes the “Growth Champions” list for the 4th year in a row est apparu en premier sur Prima solutions.

Prima Pilot 9.7: Even smarter real-time control of management activities for insurance companies

Prima Solutions — Fri, 22 Jan 2021 07:00:56 +0000

Prima Pilot 9.7: Even smarter real-time control of management activities for insurance companies

22 January 2021
News

Paris (France), January 22, 2021 – Prima Solutions, a global insurtech group for insurance and reinsurance professionals, announces the launch of version 9.7 of its management software, Prima Pilot. Prima Pilot is a crossfunctional, cloud-based software that reduces management costs by automating incoming operational data from different insurance company management tools. This new version distributes activities among managers more intelligently and encourages integration with the insurance company’s information system.

“Prima Pilot is one of the great successes that came out of the online Users’ Club that Prima Solutions held last November. It confirmed the interest of our customers who are currently looking for advanced, connected technological solutions for their information system, to seamlessly manage their day-to-day activities and improve policyholder satisfaction while lowering management costs,” says Hugues Delannoy, President of Prima Solutions.

Connected via APIs to various Prima Solutions software platforms or any other insurance or reinsurance management system in the customer’s IT environment, Prima Pilot consolidates and coordinates all management activities and automatically allocates them intelligently among the managers.

Increasingly more open and integrated into the insurance company’s management system

With Prima Pilot 9.7, the Prima Pilot management screens are built in and can be accessed directly from Prima P&C. Managers enjoy a full comprehensive view of the status of their activities at a glance, from the convenience of their management tool.

A new management screen for managers

The Prima Pilot control screen has been reorganized to support and display a very large number of activity types and users. There are two views available to managers: a global view of all domains and users and a more detailed, drill-down view of one domain or user.

Equitable distribution and overcapacity management thanks to a powerful, configurable algorithm

The smart, automatic allocation of activities among managers is one of the core concepts of this software. Distribution is now based on a so-called equitable principle. This means that activities are allocated by an algorithm based on the user’s capacity. A manager with a greater capacity—depending on their availability and the complexity and expertise required for the activity—will have more to do. Also, to make up for temporary or seasonal peaks in activity, Prima Pilot can go beyond the initial capacity and process allocations in overcapacity mode.

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L’article Prima Pilot 9.7: Even smarter real-time control of management activities for insurance companies est apparu en premier sur Prima solutions.

Prima Solutions launches Prima P&C 9.7, for increasingly more intuitive and efficient management of P&C claims and contracts

Prima Solutions — Tue, 19 Jan 2021 14:38:07 +0000

Prima Solutions launches Prima P&C 9.7, for increasingly more intuitive and efficient management of P&C claims and contracts

19 January 2021
News

Paris, January 19, 2021 – Prima Solutions, the leading French insurtech group for insurance and reinsurance professionals, announces the release of version 9.7 of its cloud-based P&C insurance product management and distribution platform, Prima P&C.

This new version, which was unveiled during the company’s users’ club in November, refines and puts the final touches on fleet contract management, offers a new slips module for managing P&C claims, introduces API connections, and integrates Prima Pilot into Prima P&C’s Distribution, Policy & Billing module.

“The Users’ Club 2020 online event, held last November, gave us the opportunity to demonstrate a comprehensive and harmonious solution for our customers. This global solution—and more specifically this new version of Prima P&C—benefits from all the new synergies we’ve created within Prima Solutions and with our customers, including team synergies, as well as process, technology, and usability synergies,” says Hugues Delannoy, President of Prima Solutions.

An extensive integration between Prima P&C’s Distribution, Policy & Billing module and Prima Pilot

Prima Pilot is the real-time piloting software for insurance activities from Prima Solutions that lowers management costs by automating the flow of operational data from different insurance company management tools.

Prima Pilot’s business piloting screens are currently integrated into the Distribution, Policy & Billing modules, which actively generate activities for Prima Pilot.

A new slips module for claims management

The new Slips module makes it easier to manage payments by grouping multiple payments or cash-ins involving the same beneficiary. This way, all financial movements generated by slips are recognized and processed automatically.

More detailed contractual management within Group contracts

Prima P&C version 9.7 puts the final touches on the fleet contract management module. This module supports all types of closed or open groups (e.g. automobile fleets, buildings, or livestock) and organizations (e.g. businesses, associations, or communities).

Within the traditional view of a contract’s installment dates, the status of future due dates with a deferred action—coming from an endorsement, draft endorsement, or draft renewal—can now be seen instantly, making the day-to-day management of policies and relationships with policyholders even easier.

Finally, with Prima P&C version 9.7, this module now lets you void newly subscribed contracts, which cancels and (if necessary) reverses all prior management actions on the contract.

Mots clés

L’article Prima Solutions launches Prima P&C 9.7, for increasingly more intuitive and efficient management of P&C claims and contracts est apparu en premier sur Prima solutions.