ROOM Solutions is a provider of global software and consultancy services to the commercial insurance and reinsurance sector.
Our software is currently being used by some of the world’s leading underwriting organisations, across the UK (both bureau and non-bureau), the US, Bermuda, Europe, Asia and Africa.
With over 5,000 IT professionals, operations in 44 countries and pioneering technology, we are well poised to fully support international insurance and reinsurance market operations. Our world class processes have been assessed to the highest certification standards, SEI CMM Level 5.
ROOM has a proven and comprehensive suite of market leading products, consisting of robust components that support best practice processes. Modules can be implemented individually or arranged to create a complete enterprise-wide operational platform.
Our insurance software enables exceptional levels of integration between the following key business functions:
- Compliance and regulatory reporting
- Financial operations
- Management information
Policy administration system
Our core policy administration system, Subscribe, handles nearly 30% of the premiums written in the Lloyd’s market, and we are proud to have never lost a Subscribe client. Subscribe covers all non-life commercial lines in both subscription and primary markets. The system is used extensively across the London (Companies market and Lloyd’s of London), US and Bermudan markets by insurance companies, reinsurance companies, MGAs, service companies and captives.
Risk exposure accumulation system
Exact Advantage is our market leading risk exposure accumulation system, and boasts unparalleled worldwide mapping functionality to help visualise the spread of an underwriter’s risk portfolio. Exact Advantage supports the proactive assessment of the susceptibility of underwriting portfolios to catastrophic events including terrorism, windstorm and flood.
Data warehouse solution
Underpinning our products is Acumen Advantage, a data warehouse solution that enables customers to retain and utilise data from multiple sources in ways that have not been possible before. Coupled with powerful reporting tools, Acumen provides clients with new capabilities for optimising decision making in day-to-day operations as well as strategic planning. Its flexible infrastructure allows data to be stored at a highly granular level whilst completing complex business analysis reports rapidly.
Financial reporting system
ROOM also offers a comprehensive reporting capability: the ROOM Financial Solution (RFS). This application generates financial data for all statutory and management reporting, enabling organisations to meet financial reporting requirements cost-effectively and with simplicity. For multi-national operations, RFS generates all the data needed to support the highly efficient production of regulatory returns for the jurisdiction in which each legal entity operates.
Application processing platform
ROOM has recently launched ipf³, a revolutionary technology that changes the way commercial insurance operations run. ipf³ itself is a .NET processing platform that integrates any systems underneath it – whether they are ROOM Solutions applications, third party systems or in-house developments. Workbenches presenting data and functions can be rapidly and efficiently developed, harnessing information drawn from multiple third party software packages as well as those provided by ROOM Solutions or developed in-house.
The ipf³ user interface is highly adaptable, providing every business function across an organisation with a customised interface to all IT systems that support it. ipf³ can be deployed as an enterprise wide SOA, or as individual applications for specific functions of insurance processes, or for point solutions such as PMD reporting or electronic placing.
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