STAMFORD, Conn., May 08, 2018 (SEND2PRESS NEWSWIRE) -- Prevail Consulting, Inc., a leading insurance industry technology and professional services provider, today announced a contract with Medical Assurance Society New Zealand Limited (MAS) to license the Prevail Reinsurance System (PRS) to support MAS's reinsurance operations. Under this new contract, Prevail will install PRS and deliver implementation, application and data migration services.
"We were impressed with the technology and comprehensive off-the-shelf functionality offered by Prevail's reinsurance solution, along with the breadth of Prevail's insurance expertise and reputation," said Paul Barton, General Manager Risk and Compliance at MAS. "The Prevail solution strategically enhances our information technology portfolio to benefit the unique needs of our valued Members."
"We are proud of being selected by MAS," said Nat Curiale, Principal and Global Operations Manager, Prevail Consulting. "We are committed to the success of this partnership and implementing PRS in support of MAS's reinsurance strategy and superior membership services."
The Prevail Reinsurance System (PRS) fully automates the management of reinsurance data for insurance and reinsurance companies. It accepts premium and loss data from external systems, calculates ceded data, creates payables and receivables and statutory reports, and then returns this data to the original systems.
Built on state-of-the-art web technology, it can be accessed from anywhere in the world. It is a robust rules-based, table-driven product which provides immediate savings by significantly increasing efficiency, improving information access and reducing total cost of ownership.
MAS is a membership based organisation that provides insurance and wealth management solutions to New Zealand professionals. Established in 1921 as a mutual, MAS now provides financial services to more than 85% of medical professionals in New Zealand, and more than 30,000 Members across medical, dental, veterinarian, legal, accounting, architectural and engineering professions.*
(*Note: Membership data valid as at 31 December 2017 and market share data sourced from Medical Council of New Zealand Register from August 2017.)
Founded in 2000, Prevail Consulting, Inc. provides reliable and innovative technology services exclusively to the insurance industry. Prevail is clearly recognized by its clients for business expertise, commitment, and ability to deliver quality work products in a cost-effective manner. In addition to the Prevail Reinsurance System (PRS), Prevail provides superior IT Consulting Services, on-site, off-site and off-shore, including application development, business analysis, data migration and integration, and insurance technology assessments. Prevail draws additional capability and flexibility from its subsidiary in India to support Prevail's U.S. based operations.
Learn more at: https://www.prevailconsulting.com/.
News Source: Prevail Consulting, Inc.
Related link: https://www.prevailconsulting.com/
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