Q-Re, a wholly-owned subsidiary of Qatar Insurance Company (QIC), has awarded a contract to Xuber for delivery of its International Reinsurance and Insurance System (Iris) to help streamline its operational efficiency.
Selected after a competitive bidding process, the software is expected to underpin Q-Re's ambitious global drive for international business.
A multi-user Iris licence will be delivered to Q-Re through a 3 year contracted managed service, while implementation is scheduled to start immediately for completion during the first quarter of 2013.
Commenting on the contract, Xuber head Adrian Morgan said the company is looking to play a crucial role in Q-Re's global growth ambitions.
In a bid to boost its overseas operations, Q-Re has recently launched a European platform in addition to establishing additional offices in Zurich and London.
As a leading solution for Lloyd's, London and international reinsurance underwriters, Iris supports various reinsurance and insurance business including marine, non-marine, and aviation, together with facultative and treaty reinsurance either on a proportional or excess of loss basis.