Xuber and RFIB: Case study


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At the heart of RFIB, the international Lloyd’s insurance and reinsurance broker, sits Brokasure – the insurance professional’s broking software from Xuber. The feature-rich product provides RFIB with the flexibility and configurability it needs to stay ahead of the game.

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Xuber and RFIB: Case study

  1. 1. Xuber Case StudyXuber and RFIBWe’re not so different.At the heart of RFIB, the international Lloyd’s insurance andreinsurance broker, sits Brokasure – the insurance professional’sbroking software from Xuber. The feature-rich product providesRFIB with the flexibility and configurability it needs to stayahead of the game.The CustomerAn established Lloyd’s broker, RFIB handles all classes of insurance and reinsurance broking together with riskmanagement advisory services. Trading for over 30 years, RFIB now employs over 300 people and has a stronginternational network of clients with office locations including London, Riyadh, Dubai, Hamilton, Almaty, Kiev,Moscow and Tokyo. RFIB delivers insurance and reinsurance services for a wide range of sectors, including marine,property and energy. Offering a wholesale broking service, often with bespoke policies, RFIB delivers over £400mworth of premiums each year. Mark Kinsella, Head of IT at RFIB and his team provide IT services to around 300 RFIBprofessionals, mainly within the UK. “Xuber is prepared to invest in is its software to drive distinct advantage in theinsurance industry,” Mark Kinsella, Head of IT, RFIB.
  2. 2. The Challenge The ApproachWith its unique portfolio of insurance RFIB, like any other insurance firm, is heavily In 2004, RFIB adopted Brokasure Enterpriseservices, RFIB operates in a highly complex regulated and needs to manage a complete from Xuber. The software application automatesenvironment that requires a seamless and compliance strategy whilst maintaining the entire insurance life cycle and is currentlyintegrated broking solution to optimise its the needs of its markets to fulfil business used by one third of RFIB’s 300 staff. RFIBend-to-end processes. expectations. uses the feature-rich capabilities of Brokasure“Our business operations demand intricate “The insurance sector is heavily governed to manage its entire wholesale insuranceprocessing of quotes, policies, transactions by the Financial Services Authority, and as services business, including claims and policyand claims, often in multi-currency such our processes need to be watertight administration for underwriting and broking.environments, and automation and and compliant at every stage. Not only that, The solution helps the company to removemanagement of these processes is intrinsic we need to ensure that ambiguity within our complexity across the full range of its businessto the success of our business,” commented documentation and any resulting exposure processes. “Xuber has been delivering BrokasureKinsella. to RFIB is minimised,” he added. for longer than anyone can remember,” said Kinsella, “It’s a critical part of our everyday business and we rely on it.”The Xuber Solution “Changes in legislation and the demands “Xuber’s longevity of staff and personalXuber software has been built with over 30 of the FSA mean that RFIB has to stay at the experience of the insurance market gives it ayears of insurance experience, and is currently forefront of insurance regulations. Brokasure deep understanding of the challenges we facedeployed by 130 brokers and carriers in over has played an instrumental part in helping RFIB and the solutions we need to run our business,”40 countries across the UK, US, South America, to achieve its many compliance requirements,” said Kinsella.mainland Europe and Asia Pacific. commented Kinsella. Proactive PartnershipBrokasure provides powerful and robust Configurability As with any partner relationship that is in placeautomation of the entire broking life cycle, RFIB was instrumental in the incorporation of over a number of years, there needs to be aincluding seamless integration with other three enhancements through BUG, sponsoring continual process of review in place to maintaincore systems and the provision of electronic the new ideas via the forum. As Kinsella pointed efficiencies and to ensure standards of deliveryaccounting and placing functionality. Brokasure out, “The ability to have a direct input into the are maintained. “Xuber is not afraid to addressprovides a scalable solution for brokers from configurability of Brokasure is invaluable to us; problems. When I joined in 2009 there were asingle office deployments through to multi- through the user group, we work with our peers few perception challenges with the software.national companies. in other insurance brokers to drive collective Xuber was very supportive in identifying theseBrokasure is continually enhanced by Xuber advantage for the insurance sector as a whole.” issues by business function and helping us tothrough active collaboration of insurance shape a solution.”executives via the Brokasure User Value for moneyGroup – BUG. Brokasure is positioned at the higher end of The FutureThis valuable forum for users collectively the of the insurance software market, and for As RFIB expands internationally, the specialistdrives the continual enrichment of the product good reason. “I fully admit - I believe we pay a insurance firm is looking to extend its use ofand allows Xuber to assess current and future premium for support for Brokasure. However, Brokasure into other regions. “Xuber softwaremarket needs. It is a best practice that has this gives us a reliable solution and complete is embedded in virtually every part of ourdriven many improvements in the ongoing peace of mind when delivering our insurance end-to-end business process, and we will bedevelopment of the software. services that meet the expectations of our rolling out these capabilities to support our clients,” commented Kinsella. international presence in the near future,”Benefits concluded Kinsella. Strength of PeopleBrokasure delivers many benefits for RFIB RFIB was seeking to find an insurance softwareincluding compliance, flexibility and multi- Xuber has specialists in its business who solution that adapted to its needs, supportednational capabilities. have worked for brokers and insurers and are compliance and offered value for money. industry experts. Kinsella believes that the Xuber delivered an insurance software solutionEnabling compliance quality of Xuber’s account management team that adapted to its needs, supported compliance is illustrative of the position that it has achievedWith increased scrutiny from regulators, and offered value for money. We’re not in the market.RFIB needs to ensure that its processes and so different.resulting documentation are fully compliant.To receive our latest customer case studies,or if you would like to become one, pleasecontact us at xuber.com©Xchanging 2012 Xuber UK Xuber USA Xuber India Xuber Malaysia Headquarters 200 W. Adams, Suite 1175, 271 Udyog Vihar, Phase-II, Unit 2B-2-1, Plaza Sentral, 34 Leadenhall Street, Chicago, IL 60606, USA Gurgaon-122016, India Jalan Stesen Sentral, KL Sentral, London, EC3A 1AX, UK +1 877 288-3333 +91 (0)78382 43333 50470 Kuala Lumpur, Malaysia +44 (0)20 3604 3333 team@xuber.com team@xuber.com +91 (0)78382 43333 team@xuber.com team@xuber.com