Hyperion Insurance Group

Hyperion Insurance Group2018-03-26T08:37:03+00:00

Project Description

Hyperion Insurance Group

About the company

Hyperion is an international insurance group covering wholesale and retail broking, reinsurance broking and underwriting. The group has businesses across Europe and Scandinavia, in India, Israel and Australia. Ranked first or second in many of its markets, Hyperion has ambitions to be the leader in them all.

Insurance broking was the foundation of the Hyperion Insurance Group with the formation of Howden Insurance Brokers in 1994. Over the past 14 years, the Group broking operations have grown exponentially across the world.

The underwriting arm of Hyperion was formed in 1998 when the Group’s first underwriting agency, DUAL Ibérica, was established in Madrid.
Turnover has seen an average compound annual growth of 37% since the first company, Howden, was founded in 1994. When Howden was created, it employed six people in one office. Today, Hyperion employs over 600 people in 43 offices operating out of 22 countries.

Challenges

  • Containing separate entities throughout 22 countries, Hyperion Group had developed a very diverse IT environment. A DataFlow general ledger and master spreadsheet, fed by an array of other systems including QuickBooks and Sage, led to issues of both consistency and clarity in the data used for decisions.
  •  Files exceeded 100 Mb in size, causing significant delays for finance teams. When these systems were used, the information taken from them and fed to the board often became out of date as group companies made adjustments.
  • While the individual companies were reporting accurately and in compliance with regulatory requirements, it was unable to look at consolidated information that could illustrate a specific group or region.

The Result

  • The implementation of Infor PM10 has delivered results across not only the consolidation of the Hyperion group accounts but also reporting.
  • The information now presented to senior managers is far more consistent
  • Developed into better business processes. Because all the groups have to now feed in data on PM 10 we can control it much more – a discipline has been imposed in terms of the processes and workflow around entering the data and then consolidating it.

Project Details

SOLUTION

Infor

PRODUCT

Infor PM10

APPLICATIONS

Budgeting & Planning and Forecasting

INDUSTRY

Insurance

“This Business Intelligence reporting soon became a critical factor in our decision making. We are able to make better-informed decisions more quickly”

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