The local office of accounting firm Deloitte & Touche has launched a customised version of accounting software tailored specifically for the Bermuda insurance and reinsurance sector.

Deloitte & Touche, which is the locally authorised reseller of the Sun Accounts system, have customised Sun Accounts 5 software with a specially designed “insurance toolkit”.

Deloitte & Touche senior manager Tim Hulse said: “Many leading Bermuda companies are already aware of advantages of the Sun Accounts software but they are currently using an older version.”

He added: “The new version of SunSystems 5, combined with our customised toolkit, has lots of additional functionality that is ideally suited to business in Bermuda. The package is easy to use, extremely flexible and ideal for multinational companies that require international integration”.

The firm said in creating the toolkit, it drew on 12 years expertise in accounting systems and services for reinsurance and insurance clients.

It cited the “customised toolkit as a cost effective option for reinsurance and insurance businesses looking for additional specialist functionality”.

The extended toolkit reportedly features user friendly insurance-based interface and reports, detailed data capture and analysis by contract, contract attributes, claim and claim attributes, claims analysis, claims management, receivables management, installment management, automatic earning of insurance premiums and data integrity and validation.

Deloitte & Touche is the Deloitte Touche Tohmatsu practice in Bermuda with seven partners and some 100 staff members.