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LANCASHIRE RE SIGNS ON Q.KNOW’S ENTERPRISE SOFTWARE FOR ORGANIZING AND TRACKING DEAL FLOW
– Bringing Technological Breakthrough to Transaction Management –
WORLD INSURANCE FORUM, BERMUDA – February 21, 2006 – Q.Know Technologies, Inc., a global provider of advanced information management software, announced today that it has signed Lancashire Insurance Services Company, Ltd. of Hamilton, Bermuda.
Lancashire was incorporated in 2005 with an equity capital contribution of approximately US$1 billion from Lancashire Holdings Limited, which raised common shareholders' equity of $963 million from public and private investors, as well as $125 million in long term subordinated debt securities. As a newly formed Bermuda domiciled insurer, Lancashire's operating activities will focus on a specialist approach targeting dislocated classes of business. The company will focus on a diversified mix of business, both geographically and by class, including direct short-tail property insurance and reinsurance, as well as a small assumed casualty book of aviation terrorism and marine protection and indemnity classes of business.
Lancashire is currently implementing Q.Know’s enterprise software to address the issue of managing all electronic information transferred via e-mail in both the deal process and the client service that follows.
“Efficiency is paramount is this environment where electronic information dominates every facet of our business – from transaction management to customer service to back office operations,” stated Neill McConachie, Lancashire chief financial officer and chief operating officer. “Q.Know brings a unique understanding to how our business operates and has developed a software that reflects just that.”
“The tremendous reception Q.Know is receiving in the market speaks clearly to the industry’s long standing need for information management technology that actually works the way the industry does, rather than having to adapt to various software models that only address parts of the problem,” said Vineet Kalucha, Q.Know's president and chief executive officer.
Lancashire Insurance Services Company, Ltd. has received a financial strength rating (FSR) of A- (Excellent) and an issuer credit rating (ICR) from A.M. Best. Concurrently, A.M. Best has assigned an ICR of "bbb-" to the parent company, Lancashire Holdings Limited (Bermuda), reflecting a a stable outlook.
Q.Know Technologies, Inc. develops software that solves the most challenging problem in business computing – the ability to automatically and accurately file, retrieve, manage and share unstructured electronic information. The result is instant access to enterprise-wide information, real-time deal visibility, enhanced regulatory compliance and improved customer satisfaction. Q.Know works seamlessly across existing applications, such as Microsoft Outlook® and Office®, and is quickly implemented and easily learned. For more information, please visit www.qknow.com.
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