Northdoor, the IT solutions provider specialising in the insurance industry, announced that it has successfully delivered the roll-out of its NdexInsure Insurance Solution for Torus, the global speciality insurer on budget and on time.
As part of the implementation, Northdoor deployed a number of key modules including policy administration, claims management, outward reinsurance and a data warehouse. It also successfully migrated all Torus' historical data to the new platform within a 6 month period.
Northdoor was appointed by Torus in August 2012 following its acquisition of London-based Lloyd's Syndicate 1301 because it needed a flexible and open IT solution that worked alongside its existing technology infrastructure. With Northdoor's Shared IP Model, Torus was able to retain full control over the current and future developments of the solution.
As a result of the successful deployment of NdexInsure, Torus has recently received approval from the UK Financial Services Authority and Lloyd's to launch its own Lloyd's managing agency.
Rob Stavrou, Commercial Director for Integrated Solutions at Northdoor, said: "We are thrilled that the roll-out of NdexInsure Insurance Solution within Torus has been such a success. The system is unique in that it provides full control and flexibility to the customer through our Shared Intellectual Property (IP) model. At Northdoor, we are committed to delivering solutions that not only address the client's needs today but also support their future growth. We are delighted to be working with Torus and look forward to building on this relationship for many years to come."
Jon-Paul Andrews, Chief Information Officer, Torus International, said: "We are delighted that the NdexInsure solution is now implemented and live. We now have a system that meets our business requirements, with the ability to have flexibility and control over the system going forward, through the use of Northdoor's shared IP model,"
He continued "After the successful work with Northdoor, the NdexInsure system has helped us to achieve an important milestone for Torus, as we have now been approved to become a Lloyd's Managing Agency."