Intelligent Finance Automation

Improving financial management, regulatory compliance and overall performance for the insurance sector

About

The Company

Phinsys is a privately held company, set up over a decade ago to deliver innovative software solutions to improve financial accounting, compliance and reporting processes. We have offices in London, New York and Bermuda.

About

Our People and Products

Our directors and consultants are finance and IT professionals having many years of experience in the insurance market. We are trusted partners to all our customers.

Our Products:

  • Enable faster close processes with far greater accuracy 
  • Remove manual processes and reliance on spreadsheets
  • Improve regulatory compliance 
  • Provide flexible reserving processes and allocation routines
  • Reduce cost and enable scalability as the business grows

Clients

PRODUCT SUITE

Testimonials

Implementing the Phinsys platform is an exciting and important step forwards for Markel, at a time of significant growth. This platform will optimise our financial and reserving processes whilst reducing costs and enhancing scalability. As we set our sights on becoming the leading specialty insurer, we’re investing in our processes and prioritising productivity so that, ultimately, we can pass the benefits on to our clients.
Carys Lawton-Bryce, COO
Markel International

Intangible

Benefits

Single source of trusted, reconciled financial data. Premia reported a 90% reduction in manual data processing, eliminating errors.
High degree of automation and accelerated financial close. Hamilton reported a close process reduced from 10 to 3 days.
Future proofed regulatory and compliance reporting. Supported clients on the same platform with transition from UK/US GAAP -> Solvency 2 -> IFRS17
Enhanced control environment and SOX compliance. Improved auditability. Aegis reported improved data quality and invaluable insights for forecasting/planning.
Customers benefit from 100% successful track record of complex finance transformation projects.

Cost

Benefits

International insurer reporting a saving of >$3m in first year alone from decommissioning current data initiatives and Phinsys being the core solution for the new target state architecture.
$3m
Saving
Premia saved $460k in 2022 with decommissioning legacy platforms and infrastructure related savings.
$460k
Saving
Hamilton achieved a finance operating cost reduction of 75% through accelerating the financial close and reporting processes resulting in $1.1m in savings per annum across UK, Bermuda and US.
75%
Cost Reduction
Aegis reported that systems automation and enhanced controls avoids the need to scale the finance team. Already saving $500k per annum, increasing to $900k per annum.
$500k
Saving per annum

Contact

Our offices

UK
Phinsys Limited
70 Fenchurch Street
London, EC3M 4BS
US
Phinsys US LLC
1133 Broadway
New York, NY 10010
BERMUDA
Phinsys Technologies Limited
16 Burnaby Street
Hamilton, HM11