Flagstone Reinsurance Holdings Limited (Hamilton, Bermuda) has chosen Quantrix 64, a business modeling and analytics software solution for companies that develop large-scale, data-intensive business and financial models from Portland, Maine-based Quantrix.
Flagstone Reinsurance Holdings Limited, a global reinsurance firm with more than 30 companies worldwide, selected Quantrix 64 to consolidate more than 70 individual models to streamline its financial forecasting and budgeting process, and to improve the quality and timeliness of executive committee and board reporting. The new product's 64-bit processing capability enables enterprise customers to create scalable, comprehensive models, according to the company.
Flagstone Reinsurance Holdings Limited initially used the 32-bit version of Quantrix Modeler for budgeting and financial forecasting, but the large scale of operations required the company to develop multiple models to incorporate all of the information. "The model has a huge multi-dimensional framework," says Shawn Mercer, Director, Planning, Flagstone Reinsurance Holdings Limited.
The consolidated model contains information on 30 companies, each with approximately 2,500 general ledger accounts. It includes 19 departments operating in eight currencies, providing information across 15 quarters of data, and requires approximately 20 million calculations.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio