Apollo is an innovative integrated insurance group dedicated to providing high quality products and services to clients, brokers, and capital partners at Lloyd’s.
In 2015, Apollo partnered with Phinsys on its journey to build an advanced in-house finance function using the Phinsys product suite. Since this collaboration, challenges such as data quality and manual processes have been successfully addressed and overcome.
An enterprise data warehouse and close management tool that enhances data integrity, produces regulatory reports, automates financial close processing, and accelerates financial processes.
A rules-based calculation and allocation engine automating premium ceded premium allocation, IBNR calculation, expense allocation, and business forecasting.
An accounting rules engine that ensures the integrity of financial accounts, manages accounting journals, and supports different time zones and multiple ledgers.
A regulatory and bordereau reporting and reconciliation system that manages and validates bordereau uploads, creates new reporting formats for evolving regulatory requirements, and delivers real-time output of system-to-system reconciliations.
A reporting data layer, offering granularity for business performance analysis, and facilitating the transition from management to statutory to reconciled regulatory data submission.
Creation of a single, robust data model supporting syndicate and managed syndicate reporting.
Fast and accurate mapping of all data sources into a single model for simplified ongoing management and reporting.
Enhanced management information accessibility with granular detail for informed business decisions.
Implementation of consistent and accurate finance close processes, reducing operating costs.
Consolidated reporting across the entire portfolio, including Lloyd’s Solvency II Pillar 3 and UK GAAP.
Automatic calculation and allocation of premiums, IBNR, and ceded. Automatic posting of accounting entries and reconciliation across the portfolio and to a single ledger.
Since we started working with Phinsys we’ve been able to create a function that delivers accurate and timely data for our management, finance and actuarial teams. We’re building an increased capability to scale our business without introducing manually intensive processes and increasing our operating expenses.”
