Northdoor, the IT solutions provider specialising in the insurance industry, announced that following a competitive bid, it has been awarded the contract to provide its award-winning NdexInsure underwriting system to Dale Underwriting Partners, the proposed new Lloyd’s Syndicate 1729 led by Duncan Dale. Under the terms of the agreement Dale Underwriting Partners will be using the modern and flexible NdexInsure suite and will benefit from an open modular system which can be integrated into existing systems and technology provided by Asta Managing Agency. Key modules selected for the initial roll-out include policy administration, data warehouse, sanctions checker as well as the enhanced outward reinsurance and binder functionality.
Dale Underwriting Partners will be managed on a turnkey basis by managing agency, Asta, and will target a range of property, casualty insurance and reinsurance lines. The proposed Syndicate is scheduled to begin underwriting on 1st January 2014.
Northdoor has a strong track record working with Lloyd’s start-ups and has delivered similar projects with companies such as WR Berkley, Ark Syndicate and Managing Agency Partners. Northdoor’s NdexInsure solution has repeatedly satisfied Lloyd’s as an effective solution for start-ups and existing Syndicate businesses.
A key advantage of Northdoor’s solution is its shared IP model, which will give the new start-up all the scalability and functionality it needs as the proposed Syndicate grows. Working in partnership with Asta Managing Agency and Dale Underwriting Partners, Northdoor will ensure that the NdexInsure roadmap matches Syndicate 1729’s evolving business needs.
Duncan Dale, Active Underwriter at proposed Syndicate 1729 said, “During our selection process, Northdoor’s technical and industry knowledge shone through as well as its excellent reputation for delivery within the London Market. We needed an underwriting system that is flexible enough to cater for our needs now, but also has the capacity to grow with us as the Syndicate’s needs evolve. With its shared IP and modular approach, NdexInsure perfectly meets our business requirements.”
Stephen Pennington, Chief Information Officer at Asta Managing Agency said, “Following a strong and highly competitive RFP process, we’re pleased to be working with Northdoor for one of our start-up Managed Syndicates. Asta is confident the partnership will help us leverage the latest market innovations and drive Syndicate operations forward. We were looking for an agile vendor, with a strong track record and flexible outlook. Northdoor fulfilled this criteria.”