Applied Underwriters Selects Sapiens to Transform its Reinsurance Administration
Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced today that Applied Underwriters, Inc.®, a global risk services firm, selected Sapiens ReinsurancePro to automate their reinsurance administration, accounting, analysis and reporting. The solution will enable Applied Underwriters, Inc.® to replace their legacy process with a platform that is streamlined, consistent and financially correct.
Sapiens ReinsurancePro efficiently automates the underwriting and administration of reinsurance, including treaty and facultative, ceded, assumed and retroceded reinsurance.
“With the significant growth of our product offering and reinsurance portfolio, it is no longer sensible to track and book reinsurance activity manually. Sapiens was our clear front runner when selecting a new reinsurance administration system because of the comprehensive features and capabilities of the solution,” said Jeff Silver, Executive Vice President and General Counsel of Applied Underwriters, Inc.® “Also, after years of utilizing Sapiens financial and compliance solutions with great satisfaction, we consider Sapiens as a trusted partner that provides superior expertise and support, empowering us with the tools to fuel our future growth.”
“Sapiens ReinsurancePro will enable Applied Underwriters, Inc.® to simplify and streamline their reinsurance administration,” said Jamie Yoder, Sapiens North America President & General Manager. “It automates complex accounting tasks and is flexible enough to change with new terms and conditions. We are extremely excited to extend our partnership with Applied Underwriters, Inc.® to release them from the cumbersome burden of manual processes and to empower their transformative journey.”
Created and designed exclusively for the reinsurance market by some of the industry’s leading experts, Sapiens ReinsurancePro manages the entire range of reinsurance contracts and activities for all lines of business. Built-in automation of contracts, calculations and processes provides flexible and full financial control of the reinsurance processes, including auditing requirements and statutory compliance. More than 100 insurers worldwide use Sapiens’ reinsurance solutions.
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