Property/casualty reinsurers get dedicated business platform

Knightsbridge Technology Group L.L.C., a reinsurance software provider, on Tuesday said it has launched a business and accounting solution designed exclusively for property/casualty reinsurance companies.

The GenSphere Reinsurance System allows the processing of all reinsurance business on one integrated platform. It combines accounting requirements and the detailed business activities needed by reinsurers, including financial and statutory compliance, New York-based Knightsbridge said in a statement.

“Integration among underwriting, claims and technical accounts handling within other reinsurance systems has always been extremely rudimentary,” Joe Plasencia, Knightsbridge president and CEO, said in the statement. “GenSphere gives reinsurers comprehensive data analysis and quicker monthly/quarterly closing cycles in a proven, fully integrated and streamlined system, with full regulatory compliance. The integration within GenSphere also lessens the number of business resources required to run the system.”