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8th January 2020

Sequel at an exciting time in its development
Interview

Since Insurance Newslink last interviewed Ian Summers at Sequel Business Solutions, a leading London Market specialist information technology provider, he has been promoted to ceo. A few months prior to that, the fast growing US-headquartered Verisk Analytics acquired Sequel for £250m, thus giving the buyer a significant base in the London Market and strengthening its worldwide presence in the Specialty and Reinsurance markets. Also pivotal was Verisk’s subsequent purchase of Rulebook from Moore Stephens for $87m in cash.
Summers called the Verisk acquisition a “Merger made in Heaven”, bringing together a wide and unique collection of thousands of Data Sets around the human understanding of risk. Sequel’s flagship product Impact is well established and a further announcement is to be made shortly to add to its Claims offering. Rulebook, with its unique pricing engine, underwriting, external distribution for the Specialty market, and data analytics, is being used already by around 40% of the London Market, including two major brokers, and enables Sequel to offer the full cycle of Quote, Bind, Process and Claims solutions.
Significantly, six months ago, Sequel announced the launch of its product suite in the US. Rob Stavrou, chief Commercial officer (USA and APAC) and long term influencer of Sequel solutions on the global stage, relocated to lead the initiative. Summers mentioned in particular the US Excess and Surplus market with its “clunking technology” as an area of opportunity -“applications going to the US and data coming back to the UK”.
Summers highlighted the Lloyd’s strategy of taking costs out and streamlining processes. The latest edition of London Matters is due soon with a contribution again from Summers who has played a major part in London Market information technology developments over the years. He is leading Sequel with a wider range of solutions with the potential to expand its global positioning and as he puts it ”facilitate change”.

Verisk Trends(141 articles)
Sequel Trends(82 articles)