Torus Continues to Build its European Professional Lines Team with Appointment of Michael Kuprianczyk

Torus, the global specialty insurer, has appointed Michael Kuprianczyk as Senior Underwriter, Professional Lines, based in Zurich. In addition to the newly appointed Cologne-based team under Professional Lines Manager Esther Fittinghoff-Hansen, Mr. Kuprianczyk will further bolster the provision of senior local expertise for Torus’ growing Continental European client base for Directors & Officers as well as Professional Indemnity coverage.

Reporting to Marc van der Veer, Chief Underwriting Officer, Specialty Europe, Mr. Kuprianczyk will service and help grow Torus’ portfolio of Professional Lines coverage in Switzerland. He will also support Mr. Van der Veer in expanding Torus D&O and PI business in Italy and Eastern Europe.

Mr. Kuprianczyk brings over ten years of experience in financial lines underwriting to Torus. He joins from Allianz Global Corporate & Specialty, where he was Chief Underwriter Financial Lines in Switzerland. Prior to Allianz he was Specialty Lines Underwriter for Financial Institutions at Chubb, based in Zurich.

Mr. Van der Veer said, “Our aim is to develop market leading specialty products built on experience and strong relationships. Michael is a talented financial lines underwriter with deep expertise in the regions we are targeting. His arrival at Torus supports our plan to be a top provider of specialty insurance in Europe by focussing on niche sectors in a balanced portfolio of small and corporate clients.”

Mr. Kuprianczyk studied at Kansas University, USA and holds a Masters degree in finance and economics from the University of Basel, as well as holding a designation as a Chartered Alternative Investments Analyst. He speaks Polish, German, Italian and English.

Torus Appoints Leading Professional and Management Liability Expert

Torus, the global specialty insurer, has appointed recognized industry professional and management liability expert Jeffery S. Grange as Senior Vice President and Head of U.S. Professional Lines. Based in Torus’ Jersey City office he reports to Chief Underwriting Officer of Global Specialty, Dermot O’Donohoe.

Along with Senior Vice President Alex Maza, who joined Torus in February this year, Mr. Grange will drive the development of Torus’ U.S. Professional Lines platform, which currently provides directors & officers, employment practices, fiduciary and fidelity products. Plans are in place to offer professional liability products to many diverse customer types and industry segments, including financial institutions on a selective basis as part of a growing portfolio of professional and commercial insurance.

Mr. Grange joins Torus from Chubb where he was Senior Vice President and worldwide manager for their professional liability businesses, which included legal, technology, life sciences, media/entertainment, healthcare industry and financial institution segments. He is a leading expert on management professional liability, directors & officers liability, operational risk, employee crime, unauthorized (rogue) trading, cyber crime and e-risk management.

Mr. O’Donohoe said, “We know the difference it makes to a business when it seeks advice from the right people. Jeff’s proven expertise makes him a perfect candidate to lead this segment for Torus in the U.S.”

Mr. Grange’s work has been published in Bank Director, American Bar Association Tort & Insurance Practice session, the John Liner Review and the Fordham Law Review. He is a graduate of McGill University in Montreal.

Torus Insurance Selects Guidewire Software for Claims Management

Guidewire Software®, a leading provider of flexible core systems to property/casualty (general) insurers, today announced that Torus, the global specialty insurer, has selected Guidewire ClaimCenter® as its new global claims management system for all lines of business. 

Torus selected Guidewire largely on the strength of ClaimCenter’s ability to support the insurer’s highly complex commercial and specialty lines of business, and its flexibility to manage claims globally. With ClaimCenter, Torus will optimize claims management and operational administration, resulting in increased claims handling efficiencies, improved outcomes and a differentiated service to customers.

“Standardizing our claims handling processes with ClaimCenter will result in consistent, accurate, and prompt claims outcomes for our customers,” said Rob Powell, Torus’ global head of claims. “Our goal is to be recognized as the premier claims organization in the insurance industry. The performance and operational visibility improvements ClaimCenter provides, such as the system’s built-in performance metrics to ensure we are performing to our internally established best practices, will certainly help us achieve this, and will also demonstrate our willingness to pay philosophy.”

Jeff Smith, Torus’ chief technology and information officer said, “Torus is experiencing considerable growth globally. As we scale our business we needed a claims management system that would help us realize our potential as a leading specialty insurer. We found that in ClaimCenter – the application is well architected and is configurable and maintainable by us.”

“Torus is a fast growing global insurer with the need for a high degree of flexibility and functionality in its claims environment,” said Marcus Ryu, chief executive officer, Guidewire Software. “With ClaimCenter being a proven solution for all commercial lines – including commercial specialty and E & S – as well London Markets business, we are confident it will serve Torus well as it continues to grow.”

Guidewire ClaimCenter is a leading end-to-end claims management system, built from the ground up to meet the specific needs of today’s property/casualty (general) insurers. ClaimCenter’s flexible business rules enable claims organizations to define, enforce, and continually refine their preferred claim handling practices in order to optimize and monitor claim processes. ClaimCenter is in use by insurers of all sizes across all product lines to improve speed and accuracy, reduce loss adjustment expense, and enable proactive management of claims.

Cognizant Deploys a Global Risk Engineering Platform for Torus Insurance

Cognizant, a leading provider of consulting, technology, and business process outsourcing services, has announced the successful development and deployment of a state-of-the-art global risk engineering platform for Torus Insurance.

The new platform streamlines Torus’ analytical risk engineering processes enabling better differentiation of risks with superior pricing accuracy, thus improving service to buyers and their brokers, and improving operational efficiency and effectiveness. Its intuitive interface and user-friendly reports will also improve the consistency, reliability, and security of risk-related data, and enhance customer experience.

“This platform developed by Cognizant is an important part of our efforts to establish Torus as a property leader with an intense focus on risk differentiation through best-in-class engineering and actuarial analysis,” said Bob Klepper, Chief Underwriting Officer for Global Property at Torus.

“Our relationship with Cognizant, which started with a consulting engagement in August 2009, has since expanded into several areas,” said Jeff Smith, Group Chief Information Officer at Torus. “We originally selected Cognizant for its consulting-led approach, application development capabilities, as well as its industry expertise in developing critical business applications for global insurers. Cognizant’s ability to take up end-to-end responsibility from defining the IT blueprint, to designing the user experience, building the system, and rolling out post-production support has helped us build an application that will provide us better visibility of the risks we underwrite, improve productivity, and enhance the perception of Torus with clients and brokers.”

“We are pleased to have successfully developed and deployed such a futuristic risk engineering platform for Torus,” said Sanjiv Gossain, Senior Vice President and Head of the UK and Ireland Operations for Cognizant. “The success of this engagement is a testament to our consulting, domain, business analysis, development, and delivery capabilities. Our solution accelerators focused on insurance risk information enabled us to deliver a solution that will allow Torus to systematically analyze complex industry data while achieving substantial efficiency gains. We look forward to further strengthening our relationship with Torus as we develop the customer and broker portal, which will form part of the next stage release of the product.”

Torus Announces Release of ESCAPE

Torus today announced the release of its Excess Casualty Portal Entry platform – ESCAPE. The new portal, created for select brokers involved in selling umbrella and high excess liability policies to small businesses, was designed with input from brokers and will streamline the quote to bind process for producers.

ESCAPE was built using the latest breakthroughs in software and technology. It brings a revolutionary online portal to the property & casualty marketplace that will further assist brokers serving the more than 20 million U.S. small businesses.

“As a company built upon innovation and technological advancement, we listened to our team – many of whom are former brokers – when they told us there was a clear opportunity to improve upon many of the outdated online portals currently being used by producers throughout the U.S.,” said David Perez, President and Chief Underwriting Officer of Torus Global Casualty. “As a result, ESCAPE introduces many first of its kind features that we believe will really benefit brokers.”

Value-add features unique to ESCAPE include:

  • A “quick quote” option.
    By answering just a limited number of questions, the producer will be able to secure a preliminary policy indication, allowing them to provide policy seekers with initial pricing in a timelier manner.
  • Immediate policy issuance.
    Importantly, the portal issues policies immediately once a risk is bound (some insurance companies take months to deliver policies), as well as a PDF of the quote, binder and invoice.
  • Multiple limit options at quote.
    Further seeking to improve efficiency for users, ESCAPE will not only provide a quote for the requested limit, but it will also automatically supply up to 10 other limit options, reducing the time required by brokers seeking to re-quote a policy.
  • The ability to chat live with an underwriter.
    While filling out the quote application, brokers can utilize a Torus representative to answer questions pertaining to the application and any unique circumstances they are encountering. Thanks to the “co-browsing feature,” the Torus underwriter will be able to remotely view the broker’s computer screen, allowing them to provide customized, step-by-step instruction.

“This platform is going to help our clients meet the challenges of efficiency and efficacy often associated with other automated portals” noted Linc Trimble, Senior Vice President, Head of U.S. Casualty for Torus. “We believe that ESCAPE will prove to be a tool that changes the insurance purchasing experience. Together with our partners and clients, Torus will continue to offer cutting edge technology solutions that meet the evolving needs of our producers globally.”

Torus is currently seeking ESCAPE partners who have a proven capability to aggregate a homogeneous book of business with target classes, who demonstrate a track record of profitability, and who have ample producer staff with a verified growth history within the small business sector.

Those interested in learning more about ESCAPE should contact Tom Culp on tculp@torusinsurance.com or +1 (201) 743 7713, or Kevin Mooney onkmooney@torusinsurance.com or +1 (201) 743 7756.