STAMFORD, Conn., Sep 11, 2018 (SEND2PRESS NEWSWIRE) -- Prevail Consulting, Inc., a leading insurance industry technology and professional services provider, today announced a contract with Tower Insurance to license the Prevail Reinsurance System (PRS) to support Tower's reinsurance operations. Under this new contract, Prevail will install PRS and deliver implementation and professional services.
"The Prevail Reinsurance System will allow us to automate and streamline a number of complex manual processes and tasks," says Jeff Wright, Chief Financial Officer, Tower Insurance. "Partnering with Prevail gives us access to leading edge technology that will help simplify and improve all aspects of how we manage our reinsurance program," he says. "It is one of the many changes that are driving our transformation into a company that challenges the traditional insurance market."
"We are honored to have been entrusted by Tower Insurance, as the provider of their reinsurance processing solution," 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 Tower's reinsurance strategy and broader transformation agenda."
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.
Tower Insurance is undergoing a significant transformation, turning a 149 year old Kiwi company into one that challenges insurance industry norms and offers customers a genuine and different choice for insurance. For more information please refer to their website: https://www.tower.co.nz.
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/.
For more information, contact Dave Morales at: (203) 972-7449; or email: email@example.com.
News Source: Prevail Consulting Inc.
Related link: https://www.prevailconsulting.com/
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire.
To view the original story, visit: https://www.send2press.com/wire/prevail-reinsurance-system-selected-by-tower-insurance-as-the-leading-edge-technology-solution-to-automate-reinsurance-administration/