Xuber, Xchanging's insurance software business, has been selected by Everest Reinsurance Company ("Everest Re") to implement Xuber for Reinsurers in place of its existing legacy system.
The deal marks the first customer to move across to Xuber's new single platform core processing solution for reinsurers.
Everest Re will implement the suite of products, consisting of four components: Xuber Contract, Xuber Claims, Xuber Billing and Xuber Retro Ceding. Implementation will begin immediately.
Adrian Morgan, Chief Operating Officer of Xuber, comments: "We are delighted Xuber for Reinsurers has been selected as the suite of choice by a global reinsurer as renowned as Everest Re, and we look forward to a very successful partnership with them in the months and years to come. We responded to demand from customers and analysts by investing in our software technology, therefore positioning us as the only single vendor able to fill a critical gap in the market. This new customer win is an excellent validation of our investment and the resulting product."
Barry Smith, Executive Vice President and Chief Administrative Officer of Everest Re, added: "We chose Xuber because of its seamless global capabilities and because the robust functionality of its systems is second-to-none in the reinsurance market. Xuber for Reinsurers will enable us to migrate from legacy systems with a modern, configurable and flexible platform to support our growing and changing business needs."
Sandeep Bajaj, Everest Re's Senior Technology Officer added: "Xuber for Reinsurers will allow us to capture and analyse data more effectively, provide better integration with internal systems, streamline workflows and increase efficiencies across the enterprise."