Sollers and Phinsys partner to improve finance in insurance

Sollers Consulting, a software integrator and operational advisor, and Phinsys Limited, a provider of consultancy and software solutions, have announced their partnership, a collaboration aimed at bringing advanced automation and efficiency to the finance functions of insurance companies.

This alliance looks to address the growing need for insurers to modernise their financial operations, marching the sophistication already achieved in areas like underwriting and claims.

The insurance industry’s finance departments are currently facing unprecedented pressure from an increase of data, faster reporting and stricter regulations, Sollers states.

Noting that many teams are still grappling with outdated, fragmented systems and an over-reliance on manual processes, particularly spreadsheets. This partnership seeks to eliminate these inefficiencies.

Phinsys Chief Commercial Officer, Stuart Conibear, said: “We’re seeing increasing appetite from insurers to bring the same level of rigour and automation to finance as they’ve applied to underwriting, claims and policy operations.

“Our platform delivers that capability. Partnering with Sollers allows us to scale that value through experienced delivery teams who know the insurance landscape inside out.”

Wojciech Korobacz, Sollers’ Head of UK London Market, commented: “Together, we’re helping insurers move away from spreadsheets and tactical workarounds and towards a more connected, strategic finance function.”