Weston Insurance Selects Prima XL to Manage its Ceded Reinsurance Activities
Fast-growing insurer Weston Insurance selects Prima XL (formerly WebXL) to support its P&C CAT activities
CORAL GABLES, FL / ACCESSWIRE / February 4, 2020 / Prima Solutions Group, a global insurtech group that designs software solutions for insurance and reinsurance professionals in North America, Europe, and Asia-Pacific, announced today that Florida-based insurer Weston Insurance Company has chosen WebXL as its cloud-based ceded reinsurance management software. The insurer will leverage WebXL to optimize CAT bonds and model its catastrophe reinsurance programs.
Founded in 2011 in Coral Gables, Weston Insurance insures homes and businesses for losses from windstorms, hurricanes, tornadoes, hail and floods and is licensed in Florida, Texas, Alabama, Mississippi, South Carolina, and Puerto Rico. The decision came as part of a corporate strategic initiative to enhance its information systems.
Weston selected Prima Solutions’ solution based on its rapid implementation, cloud-based solution, and P&C CAT expertise.
“As a specialist in property catastrophe coverage, Weston relies heavily on CAT reinsurance. We wanted an insurtech partner that understands that market,” said Richard B. Primerano, COO and CFO. “Prima XL was the clear choice for us. They have a modern platform and a track record for agile, rapid implementation.”
“We are delighted to support Weston Insurance in streamlining their reinsurance processes, and we look forward to facilitating their development and accompanying their growth. Weston’s choice shows that we are well-suited for windstorm insurers, thanks to our P&C CAT expertise,” said Prima Solutions USA CEO Gregory Moliner.
Also based in Coral Gables, Prima Solutions USA is the North American division of the Prima Solutions Group.
About Prima Solutions
Global insurtech group and a key player in insurance in Europe, North America, and Asia-Pacific, Prima Solutions designs software for insurance and reinsurance professionals, covering all business processes in the life insurance, health insurance (for groups and individuals), non-life insurance, and reinsurance sectors.
The group serves more than 300 customers and works with a global network of partners. We help insurance companies go digital more quickly through our highly configurable, modular, and cloud-based all-web software suite - www.prima-solutions.com.
About Prima Solutions USA
Based in Coral Gables, Florida, Prima-Solutions USA is the Group’s North American division. U.S. clients include State Auto Insurance Companies, Encova, USAA, AXA, FBL, Fortitude Re, Genpact, and others.
About Weston Insurance
Weston is dedicated to helping businesses and individuals achieve financial security by providing responsive, high-quality products and customer service. Building on its executive team’s nearly 100 years of collective experience in insurance and reinsurance, Weston strives to offer the most consistent and cost-effective property catastrophe insurance protection available in the markets it serves. Weston’s Demotech, Inc. Financial Stability Rating ® is “A” (exceptional). www.weston-ins.com
SOURCE: Prima Solutions
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