Breaking News
Penn National Insurance Partners with Sapiens to Optimize Reinsurance Processes
Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Penn National Insurance, a super-regional P&C mutual insurance company, has selected Sapiens ReinsurancePro solution as a part of its multiyear legacy modernization and automation initiative. Penn National Insurance will also use Sapiens cloud services for a seamless and secure hosting experience.
Penn National Insurance needed a next-generation solution to improve efficiencies in several divisions, most notably its reinsurance administration, and respond more quickly to reinsurance opportunities. Their decision to choose Sapiens’ cloud reinsurance system was prompted by its outstanding functionality, 24/7 platform access, and Sapiens’ cloud services. ReinsurancePro also enables Penn National Insurance to automate reinsurance contract requirements from an infrastructure and planned cost perspective. Penn National Insurance is an existing Sapiens customer and uses the StatementPro annual statement filing solution. Their ReinsurancePro implementation is expected to be completed by January of 2024.
“Implementing Sapiens ReinsurancePro will help us modernize our reinsurance processes and better manage the increasing volume and complexity of future transactions,” said Jacquelyn Anderson, Penn National Insurance Senior Vice President, CFO and Treasurer. “The solution will also help us respond quickly to new reinsurance structures within a competitive cost structure.”
“A simplified and streamlined reinsurance administration platform will help strengthen Penn National Insurance’s long-term financial performance,” said Jamie Yoder, Sapiens North America President & General Manager. “Sapiens looks forward to providing Penn National Insurance with the tools to build on their recent industry gains and pursue their goals.”
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 reinsurance processes, including auditing requirements and statutory compliance. More than 100 insurers worldwide use Sapiens’ reinsurance solutions.
- Cytora and Quarticle Partner to Embed Cloud-Native GeoIntelligence into Commercial Insurance Workflows Read more
- Integrity Viking Funds Modernizes Investment Accounting Infrastructure with FIS Investment Accounting Manager Read more
- The True Cost of Fixed Income E-Trading: Transparency, Margins and Market Structure Read more
- KAST Appoints Former Binance Global Communications Leader Brad Jaffe as Chief Communications Officer Read more
- Karby Leggett Appointed Head of Digital Assets for GCNA, South Asia and ASEAN Read more
Cytora and Quarticle Partner to Embed Cloud-Native GeoIntelligence into Commercial Insurance Workflows
Cytora, the digital risk processing platform, has announced a strategic partnership with Quarticle, a provider of cloud-native geointelligence solutions for the insurance industry.
Five-Year Renewal of Collaboration between Shift Technology and AXA to Accelerate AI-Powered Insurance Transformation
Shift Technology announced the renewal of their strategic partnership agreement for five years with AXA reinforcing a long-term collaboration that now spans 15 countries across Europe, Asia, and Latin America
Bold Penguin Expands Coverage Options With Foxquilt
Bold Penguin recently announced a partnership with Foxquilt, expanding admitted commercial general liability coverage options for agents
Asia-Pacific Consumers Expect Cyber Threats but Overrate Their Online Safety, bolttech Finds
bolttech released new research examining the cyber protection gap across Asia-Pacific’s emerging and developed markets
OneShield Expands AI Hub Platform with Specialty Insurance Provider, Reinforcing AI-Native Strategy for the Insurance Industry
OneShield announced that a Michigan-based specialty insurance provider has selected the OneShield AI Hub platform to power its next-generation insurance operations
BirdsEyeView Launches ‘AI Data Scrubbing’ for Large-Scale Hazard Modelling
BirdsEyeView announces the launch of AI Data Scrubbing, a new capability designed to automate SOV data cleaning and geolocation
CIBC Innovation Banking Provides Growth Capital to Gradient AI
CIBC Innovation Banking announced that it has provided growth capital financing to Gradient AI to support Gradient’s growth plans
Cytora and Quarticle Partner to Embed Cloud-Native GeoIntelligence into Commercial Insurance Workflows
Cytora, the digital risk processing platform, has announced a strategic partnership with Quarticle, a provider of cloud-native geointelligence solutions for the insurance industry.
Integrity Viking Funds Modernizes Investment Accounting Infrastructure with FIS Investment Accounting Manager
Global financial technology leader FIS® today announced that Integrity Viking Funds has selected FIS Investment Accounting Manager to modernize its investment accounting infrastructure. The partnership demonstrates FIS’ ability to deliver enterprise-grade technology to handle increasingly complex investment strategies without prohibitive costs or operational complexity to assets managers of all sizes.
The True Cost of Fixed Income E-Trading: Transparency, Margins and Market Structure
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
KAST Appoints Former Binance Global Communications Leader Brad Jaffe as Chief Communications Officer
KAST, the global platform built on stablecoin rails, announced today that Brad Jaffe, who led global communications at cryptocurrency exchange Binance for more than three years during a period of rapid global growth and regulatory evolution, has joined the company as Chief Communications Officer.
Karby Leggett Appointed Head of Digital Assets for GCNA, South Asia and ASEAN
We are pleased to share that Karby Leggett has been appointed Head of Digital Assets for Greater China North Asia, South Asia and ASEAN within the Digital Assets Centre of Excellence. This comes in addition to his current role as Global Head of the Official Institutions Group as part of the Bank’s Global Research team.
Broadridge Appoints Allen Weinberg as Chief Growth and Strategy Officer
Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, is pleased to announce the appointment of Allen Weinberg as Chief Growth and Strategy Officer, effective immediately. In this newly created role, Weinberg will work closely with the leadership team to implement Broadridge’s strategic priorities focused on accelerating sustainable growth, enhancing profitability, and strengthening competitive differentiation. He will also help identify and evaluate new markets and product opportunities, ensuring the company’s strategy remains aligned with the industry’s rapidly changing landscape. Weinberg will join Broadridge’s Executive Leadership Team and report directly to Broadridge Chief Executive Officer Tim Gokey.
Apex Fintech Solutions and Wavvest Announce Strategic Partnership to Deliver AI-Powered Financial Planning
Apex Fintech Solutions, Inc. (“Apex”), an innovation launchpad for the global investing ecosystem, and Wavvest, the AI engine automating professional financial planning, today announced a strategic partnership to deliver AI-powered financial planning capabilities to Apex clients. The collaboration will integrate Wavvest's planning technology with Apex's custodial data infrastructure, expanding Apex's AI Suite — a comprehensive package of AI-powered tools spanning advisor productivity and platform development capabilities, including Ask Ascend for intelligent coding and documentation support and the Agentic Development Kit for rapid integration development and prototyping.