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Because most small to mid-size businesses don’t have the infrastructure and systems to support their captive needs, they look to outsource many of their accounting and back-office operations. There can be thousands of transactions that take place daily which require robust technology. Artex, a leading provider of alternative risk transfer solutions, offers outsourced insurance management services that include ledger reconciliation, back office systems, reinsurance technical accounting, reserve accounting and bureau reporting. Our state-of-the-art multi-functional application, Senator, is designed to handle the complexities involved in processing and accounting support for the non-London reinsurance market and for captives handling specific lines of business.
In 2002 Aviva Re, the Bermuda-registered reinsurance arm of Aviva, purchased Senator and looked to our expertise to manage the application in an offshore environment. Since then, we have provided processing and accounting support and Managing Information (MI) reporting for both general insurance and life underwriting on behalf of Aviva’s worldwide business units. We also harness Senator for bureau processing for a Malta-based company in the motor business, which involves receiving large amounts of data and policy details on a daily basis from its consortium of brokers. The data is imported into Senator and exported as MI reporting, enabling the client to develop forecasting and planning metrics. The information can be delivered to the client’s desktop daily, weekly and/or monthly.
Our outsourced insurance management services allow businesses to focus their time on their core competencies. There can be thousands of transactions every day and, with the multi-pronged support Artex provides, we can manage the data and deliver the reports needed to operate the captive smoothly.
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Redefine the way risk is managed with Artex. We help clients worldwide achieve greater focus on where their challenges lie and how the complexity of these challenges can be better served with creative, collaborative solutions that are aligned to their unique business strategies and goals and translate into transformative value. Contact us to learn more about how our best-in-class solutions and capabilities can maximize a client’s business outcomes.Contact Us >