Agencyport Software appoints Richard Gilbody CFO; reports contract wins

Source: Agencyport Software

Agencyport Software (formerly Sword Insurance), a leading provider of software and services to the global insurance and reinsurance industries, today announced that Richard F. Gilbody has joined the company as Chief Financial Officer and has been appointed as a Director of Agencyport Software Ltd, the parent company of Agencyport Software Corporation.

With over 30 years of finance and operational experience and 20 years focused on the software and technology sectors, Gilbody brings broad and relevant insight to the company.

Previously, Gilbody held senior executive positions at IBM, including Vice President of the Business Analytics Division, and at Cognos Corporation, as President of Cognos Americas and Senior Vice President of Finance and Operations. As President of Cognos Americas he was responsible for all field operations including executing sales and services growth strategies and driving customer success. He helped lead the successful integration of the Americas operations into IBM following its 2007 acquisition of Cognos.

"Hiring such a seasoned industry veteran as CFO is a major win for Agencyport, and is yet another milestone in growing our global footprint and overall brand," said Phil Race, Managing Director of Agencyport Software Europe. "Rick's knowledge of the financial and technology industries, coupled with his executive skills, will prove instrumental in our company's expansion."

"I am excited to join Agencyport as CFO," said Gilbody. "The company is in a great position for growth and I look forward to working with the Board and the executive management team to develop market strategies and to drive financial and operational accountability." 

Separately, Agencyport Software (formerly Sword Insurance), a leading provider of software and services to the global insurance and reinsurance industries, announced today that it has installed its leading edge risk assessment software Open Xposure for two new customers. Global insurance broker Willis and global non-life insurance services provider R&Q have both adopted Open Xposure to manage global risk exposure aggregations for customers in the energy market.

Open Xposure aids the underwriting evaluation process for planning and arranging outward reinsurance protections and for completion of regulatory ry requirements (such as Lloyd's Realistic Disaster Scenarios). Its revolutionary Google Earth disaster scenario display tool, which enables underwriters to create hurricane exposure maps using actual or hypothetical tracks, was a key selling point for both customers. With Google Earth, underwriters can make rapid and calculated policy decisions by analysing real-time "what if" disaster scenarios and results.

Paul McDonald, Executive Director at Willis said: "Recent developments in our business meant that we needed to look at adopting advanced aggregation capabilities. One of the most appealing features of Open Xposure is the analytical capability to show risk exposure against real and hypothetical disaster scenarios. The Google Earth tool is really innovative and means we can evidence that our decisions have been made with a clear picture of potential losses."

Robin McCoy, Chief Executive Officer of R&Q's Lloyd's Managing Agency said: "To respond to customers in the energy market we have to have a flexible system that supports complex reporting. Open Xposure has been a key factor in winning significant business in this market, with its seamless ability to integrate with other systems, including our Agencyport policy administration system, Open+ turnkey, in the underwriting process."

Phil Race, Managing Director at Agencyport Europe said: "While R&Q and Willis are using Open Xposure to respond to the needs of the energy market, more than 40 of our customers use the solution for all major classes of business. In addition to being outstanding technicians, the Agencyport team has a deep understanding of the nuances of insurance industry--allowing us to help solve a wide range of business issues for our customers. Every product and product enhancement that Agencyport produces is customer-led. After all, who knows better what the customer needs than the customer?"

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