Ariel Re enhances operational and financial functions with Phinsys

Phinsys, a provider of finance automation software, has been selected by Ariel Re to help streamline processes, automate reporting, and improve overall efficiency.

Gavin Bishop, the COO of Ariel Re, emphasised the significance of integrating and processing key data quickly and cost-effectively, stating: “As we increase our capacity and expand our client offerings, the ability to integrate and process key data quickly smoothly and cost-effectively is critical to supporting our scalability.”

Bishop further highlighted the challenges legacy systems and manual processes face in achieving a rapid and accurate financial close process. He noted that integrated data flows provided by Phinsys’ solutions can eliminate the need for additional time spent and controls, aligning with Ariel Re’s vision of being “The Premier Manager of Reinsurance Risk.”

Eric Butler, director of the Americas & Bermuda at Phinsys, expressed enthusiasm for the collaboration, stating: “The Ariel Re teams faced many of the common problems experienced by the other insurance businesses we deal with. We’re delighted to work with Gavin and his team to help them achieve greater efficiency and control of their data and reporting.”

The partnership between Ariel Re and Phinsys exemplifies the increasing importance of finance automation and digital transformation in the insurance industry. By leveraging Phinsys’ finance and accounting products, Ariel Re aims to optimise its operational and financial processes, ultimately improving performance and risk management.