Sequel Business Solutions: Bridging Lines of Business Logic and Data

CIO VendorMario Garcia, Managing Director
In a hunt for competence, nimbleness, and the capability to innovate, insurers are swiftly realizing that the legacy applications are often a roadblock for them. Suppliers hamstrung by these applications are struggling to invest in new products that can integrate with existing platforms and provide the flexibility and benefits that insurers are looking for. Further, market wide initiatives as well as individual company projects have continually failed to deliver the benefits promised to the business on time and on-budget. Sequel, an insurance and reinsurance software specialist has responded to these issues by providing modern, relevant products that enable the insurance companies to drive forward. An impeccable example of this is the Sequel Portal, which sits above all legacy applications. The Sequel Portal allows the customer to configure specific lines of business logic and data.

In order to modernize legacy applications, Sequel has significantly invested in innovation , supplying new products to the insurance market. The innovation transforms the way the business sees the use of software using Sequel Impact—a product that provides underwriters, actuaries and other risk management stakeholders the ability to quickly and easily quantify and visualize risk exposure for any class of business. It provides a better understanding of risk and exposure. “More informed, easier-to-access exposure information and analytical capabilities have provided customers with the ability to deliver more informed pricing, whilst reducing underwriting risk and making the most effective use of underwriting capital,” says Garcia.

The company also offers an exclusive product Sequel Claims, which combines highly intuitive user, interface with advanced workflow capability. This meets the requirements of insurers to have claim processing operations that are customer-focused, cost effective and flexible. In addition, the company also provides a state-of-the-art solution known as Eclipse Underwriting. It is a proven system that can provide both effective preventative and detection control over Underwriting. Eclipse supports Direct and Inwards Reinsurance capture, as well as Delegated Authority models.
At one instance, for one major insurer, Sequel delivered Eclipse to replace eight core policy administration systems, migrating 40 years’ worth of data from multiple different source systems with 12 million ledger entries and 2.4 million inwards policies. The insurer also implemented the Sequel Portal and rating engine to provide a web-based solution that allowed quick quotation, document production, and a configurable front-end to allow product specific data capture. This allowed the customer to improve their business effectiveness by streamlining the way they developed new products for new markets and made it easier for brokers to work with them.


At Sequel we are very fortunate to work in both Insurance and technology that affect everyone’s lives


Sequel has created an innovation forum for all of its customers. This provides customers the opportunity to discuss and influence the roadmap in line with market initiatives. An example of this is the shift towards electronic trading. Through the innovation group the customers are able to stay in touch with latest developments and help drive the Sequel solutions to continue to be at the cutting edge of market solutions. “We have created an unrivalled team of business experts and leading technology experts to create solutions that are intuitive, allow users to gain meaningful business insight, and enhance the user experience,” affirms Garcia.

“At Sequel we are very fortunate to work in both Insurance and technology that affect everyone’s lives,” says Garcia. This provides a fantastic opportunity to transform a whole industry that has become burdened with legacy systems and data issues. “At Sequel we are passionate about being the driving force behind this change and constantly strive to be at the forefront of latest technology thinking. The core to our success is the ability to deliver the technology available today against the business needs of our customers,” concludes Garcia.

Company
Sequel Business Solutions

Headquarters
London, UK

Management
Mario Garcia, Managing Director

Description
A company that offers a fully hosted, fixed priced Eclipse Managed Application Service for insurance organizations looking to benefit from outsourcing and cloud solution