Blem Information Management Ltd is pleased to announce that Syndicate 102, owned and managed by GoshawK Insurance Holdings plc, the specialist international insurance and reinsurance underwriting business, has recently completed the final stage of its implementation of XLRAS. XLRAS is specialised software that supports insurers in the efficient administration of their excess of loss reinsurance recoveries.

Calculating and producing excess of loss reinsurance recoveries can be a particularly time consuming, difficult and error prone activity. The many complex tasks involved have to be repeated on a regular basis and this inevitably leads to postponed revenue, negative cash flow and delayed management information.

GoshawK selected XLRAS for its proven ability to solve these problems and manage the intricate complexities of Excess of Loss reinsurance. GoshawK's reinsurance recovery cycle is now quicker and many other benefits are being delivered. These include the centralised processing of all excess of loss protections in a single dynamic system, which provides the flexibility and time to fully optimise the use of one's reinsurance program. The real time information and reports from XLRAS provide not only complete audit controls, but also comprehensive management information from which to drive the business forward. The speed with which XLRAS processes information also means that GoshawK has a distinct advantage in assessing their reinsurance and net position on any real or theoretical scenario.

Neil Smith, Syndicate Finance Director of GoshawK, reported that "XLRAS is now an integral part of our drive to meet targets for efficiency and information delivery. The implementation process has proven to be well worthwhile and we have already started to experience the benefits that XLRAS will deliver for the long term."

Gavin Blem, Managing Director of Blem, commented "Another fine achievement, as prior to GoshawK, XLRAS had been implemented purely for company and run-off clients. This first implementation of XLRAS for a Lloyd's syndicate, has been followed with close interest by other syndicates who have previously found their needs unmatched. We are now engaged in further implementations for several Lloyd’s syndicates, as XLRAS has demonstrated that its functionality and performance precisely meet the needs of individual syndicates, agencies and the market as a whole. We look forward to being of increasing service to the Lloyd’s market, as a result of the real and proven benefits of using XLRAS."

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