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Global Insurance Leader Selected Sapiens to Innovate Operations
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that a European based global insurer has selected Sapiens ReinsuranceMaster and Sapiens DataSuite end-to-end SaaS solution to modernise its operations in the highly specialised London Market.
This marks a significant milestone for the insurer as it becomes the first London Market insurer to utilise Sapiens’ innovative Lloyd’s Outward Reinsurance Scheme (LORS) and Underwriting Support Message (USM) features of Sapiens ReinsuranceMaster.
The implementation of Sapiens’ solution will replace the insurer’s legacy systems, streamline processes, and enhance operational efficiency, helping the company maintain its leadership in the competitive insurance market. The collaboration underscores Sapiens’ commitment to serving the unique needs of the London Market, the world’s leading hub for specialty insurance and reinsurance.
Sapiens ReinsuranceMaster offers the depth of functionality and capabilities needed to modernise operations, improve efficiency, and better serve their clients with an integrated platform. This partnership with Sapiens delivers long-term value and drives measurable impact.
“We are proud to support our client in their reinsurance business management and accounting processes and to ensure they remain at the forefront of innovation and customer service,” said Roni Al-Dor, President and CEO of Sapiens. “The partnership exemplifies Sapiens’ ability to deliver cutting-edge solutions for the world’s most sophisticated insurance markets, setting a new standard for other specialty insurers and syndicates in the London Market.”
Sapiens ReinsuranceMaster is a comprehensive solution for superior management of large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.
Sapiens DataSuite is a data management solution that empowers insurers to produce actionable insights and maximize the value of their data resulting in smarter decision making. DataSuite is a modular, highly innovative, business intelligence solution designed specifically for insurance markets.
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