Xitus, a traditional specialist in providing discontinued insurance solutions through acquisitions and loss portfolio transfers, has selected INTX Insurance Software as its core insurance operating system to support its global portfolio and captive operations. INTX Insurance Software is a complete insurance operating system for specialty casualty insurance companies, MGAs, reinsurers and captive insurance companies.
INTX will support Xitus in the global expansion and management of its runoff, LPT, IBT and captive re/insurance businesses. This support extends to its subsidiaries: Xitus Bermuda, Xitus UK, Xitus Europe and its latest acquisition, Chevron Captive, Insco.
Xitus has expanded its use of the INTX platform more broadly to gain capital visibility into its long-tail portfolio and accelerate the execution of loss portfolio transfers (LPTs) and acquisitions.
The platform facilitates this by providing enhanced portfolio monitoring, reporting and coordination capabilities, specifically supporting the company’s acquisition and LPT activities.
“As an early adopter, we are growing our relationship with INTX because the platform gives us the control to manage our business at scale, and as our transaction volume and geographic coverage expand, INTX is a core system we can trust to operate with confidence,” said Benjamin Dovey, head of commercial and operations at Xitus. “INTX brings structure to what has historically been a fragmented, manual process, giving our team the confidence to act quickly as we process more transactions.”
Unlike common core systems, INTX is designed for the operational and financial realities of traditional and captive insurance.
By adopting the INTX platform, Xitus is building a modern operations framework designed for scalability. The company notes that as a unified technology solution, coupled with expertise, it will effectively manage the growth of increasingly complex reinsurance treaty administration and trading activities.
“Run-off and captive insurance portfolios require a level of financial control and the ability to leverage predictive AI actuarial models that legacy systems were never designed for. INTX provides organizations like Xitus with real-time visibility and governance as complex multi-entity portfolios scale globally,” said Rob Lewis, CEO of INTX Insurance Software. “Our platform gives leadership real-time visibility into reinsurance and claims activity, providing clean data for their predictive AI models and regulatory oversight.”
