Sequel, a leading provider of end-to-end software for insurance and reinsurance businesses, announced that Agora Underwriting has chosen Sequel Eclipse Underwriting to support its transition from a Special Purpose Arrangement (SPA) of Skuld Syndicate 1897 to a full Lloyd’s syndicate. Agora is using Eclipse to streamline policy administration. Sequel is a Verisk (Nasdaq:VRSK) business.
In November 2017, Lloyd’s granted permission for Agora Syndicate 3268 to underwrite business attaching from 1st January. To transition from an SPA to an independent syndicate, Agora needed to install robust underwriting and risk aggregation systems in a very short timescale, which is why the syndicate selected Sequel’s Eclipse Underwriting. Sequel was appointed in September, with the aim of getting its core underwriting administration and aggregation systems and, as important, all its renewal data live by the December deadline.
“We are proud to have played such a key role in helping transition Agora to its own independent syndicate, said Rob Stavrou, chief commercial officer at Sequel. “Many new ventures over the past few years have chosen Sequel as their technology partner. Following the decision to implement our solutions, Agora was able to make the transition in a little over three months. That’s an incredibly challenging time frame, but we were able to work in partnership with Agora to deliver it.”
Sean Sawyer, managing director at Agora, commented, “Sequel has done lots of work with companies like us, so we knew we were in safe hands. We needed to have confidence that we could transition all our renewal data and implement a brand-new system, all in a tight time frame. The Sequel team were helpful and involved throughout and were able to help ensure that we were fully operational and able to go live before renewal season began. Sequel Eclipse is a powerful platform for our business, and we’re confident that we have chosen the right technology partner for now and the future.”