Weston Insurance Company has chosen Prima XL (formerly WebXL) as its cloud-based ceded reinsurance management software. The insurer will leverage Prima XL to optimize CAT bonds and model its catastrophe reinsurance programs.
CORAL GABLES, Florida—February 4, 2020— Prima Solutions Group, a global insurtech group that designs software solutions for insurance and reinsurance professionals in North America, Europe, and Asia-Pacific, announced today that Florida-based insurer Weston Insurance Company has chosen Prima XL (formerly WebXL) as its cloud-based ceded reinsurance management software. The insurer will leverage Prima XL to optimize CAT bonds and model its catastrophe reinsurance programs.
Founded in 2011 in Coral Gables, Weston Insurance insures homes and businesses for losses from windstorms, hurricanes, tornadoes, hail and floods and is licensed in Florida, Texas, Alabama, Mississippi, South Carolina, and Puerto Rico. The decision came as part of a corporate strategic initiative to enhance its information systems.
Weston selected Prima Solutions’ solution based on its rapid implementation, cloud-based solution, and P&C CAT expertise.
“As a specialist in property catastrophe coverage, Weston relies heavily on CAT reinsurance. We wanted an insurtech partner that understands that market,” said Richard B. Primerano, COO and CFO. “Prima XL was the clear choice for us. They have a modern platform and a track record for agile, rapid implementation.”
“We are delighted to support Weston Insurance in streamlining their reinsurance processes, and we look forward to facilitating their development and accompanying their growth. Weston’s choice shows that we are well-suited for windstorm insurers, thanks to our P&C CAT expertise,” said Prima Solutions USA CEO Gregory Moliner.
Also based in Coral Gables, Prima Solutions USA is the North American division of the Prima Solutions Group.