The latest effort is a key move for Ascot US in its quest to update its business technology and improve financial and accounting processes. Credit: Poca Wander Stock/Shutterstock.

Ascot US, a subsidiary of Ascot Group, has partnered with Phinsys, a finance automation software provider for the reinsurance sector, to enhance the former’s finance operations. 

The initiative marks a pivotal move for Ascot US in its quest to update its business technology and improve financial and accounting processes, Phinsys said.  

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Ascot US, an insurance and reinsurance company, specialises in providing specialty property and casualty and financial lines products to mid-sized commercial clients through various retail and wholesale channels. 

The partnership has enabled Ascot US to implement vital tools and capabilities to advance its finance as well as accounting functions.  

This includes an insurance data model tailored for the financial close process of US entities and integrated seamlessly with core insurance data sources and systems. 

Phinsys Americas and Bermuda head Eric Butler said: “We are excited to partner with Ascot US and deliver a tailored solution that aligns with Ascot’s needs, while transforming the way they operate. We have truly enjoyed working with Tim and the Ascot US team, and we look forward to a long-lasting partnership that ensures the future resilience of their finance function.” 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The integration is also expected to offer improved finance management, more accurate reconciliations, extensive multi-currency support and precise earnings calculations.  

It empowers Ascot US to streamline operations, comply with regulatory demands and maintain a leading edge in technological innovation. 

Ascot US information management vice president Timothy Gambocurta said: “Our collaboration with Phinsys marks a critical milestone in our ongoing mission to modernise our business technology landscape. As a global specialty insurance and reinsurance group, it is imperative that we have digital platforms that seamlessly align with our precise functional requirements. We chose Phinsys for their deep expertise in the insurance industry and their demonstrated ability to deliver on those needs.”