Polygonal Achieves "Compatible with Microsoft Windows 7" logo
City Computers Limited announces that it has achieved the "Compatible with Windows 7" logo by Microsoft. This is awarded only to those products that have undergone stringent technical checks, and City is pleased to add this to its 'Gold Independent Software Vendor' accreditation, the highest level of recognition that a Microsoft Partner can achieve. Once again, City Computers demonstrates its commitment to maintaining the highest quality of software and service levels.
The product receiving certification is Polygonal, our advanced and competitive software for the global insurance industry, specifically focused on the Run-Off sector. Polygonal has been built using our vast experience and expertise in the London Insurance Market and builds upon the much-admired Run-Off Plus system.
"Our customers come to us for high-quality insurance software that offers the most up-to-date features," said Richard Saddleton, Technical Director. "By working with Microsoft, we feel confident Polygonal will provide users of Windows 7 with enhanced functionality and significant value."
Microsoft recommends "Compatible with Windows 7" products because they install readily and run reliably on Windows 7. They have passed Microsoft designed tests for compatibility and reliability.
Minster Scheme of Arrangement Approved
On the 21st September 2010, the court–approved final bar date for claims on the Minster Insurance Solvent Scheme of Arrangement passed, and the process to finality began. This process began back in 2002, when Minster’s previous owners, a large French insurer, attempted to sell this large and complex run–off portfolio but was frustrated by its diverse nature and the variety of IT platforms on which it stood.
To make it a more saleable proposition, the owners invited City Computers to consolidate the entire portfolio, from 18 original insurers, onto its well–respected Run–Off Plus transaction processing system, and to create a Data Warehouse which would give the portfolio’s managers a true perspective of all the insurance estate they were managing. In addition to the inwards policies and claims inherited, there was a huge range of reinsurance rearrangements which needed to be mapped, some of it for the first time.
As a result, the Minster portfolio was bought by a US investment bank with the ultimate aim of scheming a solvent portfolio. The Data Warehouse allowed accurate assessment of IBNRs, production of accurate figures to support commutation agreements, reliable data to make reinsurance recoveries, and many other functions towards the aim of finality.
At the creditors’ meeting on 18th January 2010, City Computers provided online access to the live data, allowing any creditor the chance to confirm the accuracy (or otherwise) of the claims that had been made. As a result, the Scheme of Arrangement was sanctioned by the High Court on 16th March 2010. The result has been an orderly winding–up of a complex insurance estate, and the release of capital. City Computers is proud to have played a key part in the unravelling of a complex situation.
