HOLON, Israel, Nov. 13, 2019 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
announced today that Farmers Union Mutual
Insurance Company (FUMICO), the largest domiciled
property & casualty (P&C) insurance company in Montana, has selected Sapiens CoreSuite for
Property & Casualty and Sapiens IntelligencePro for
Property & Casualty over the cloud for its digital
transformation project.
FUMICO seeks to provide a superior experience to policyholders
and agents via straight-through processing and digital
capabilities.
"Farmers Union Mutual Insurance Company has relied on a
30-year-old policy administration system to cover the scope of our
P&C business and service our policyholders, which has made it
difficult to launch modern business products and processes," said
Janet Tamcke, project
sponsor/manager for the company. "By replacing our core system and
adding Sapiens' advanced analytics solution, we will be able to
quickly support new lines of business to meet the ever-changing
needs of our customers. FUMICO will also provide a digital and
personalized experience to our policyholders and agents via
straight-through processing, including self-service
capabilities."
FUMICO will benefit from enhanced rating and rules during
underwriting to speed processes, with underwriter interaction that
can be configured by business users. Sapiens' innovative CoreSuite
is also expected to reduce FUMICO's time to market for future
product rollouts and overhead costs.
Continued Tamcke: "Our current system doesn't provide sufficient
insight into our data. Sapiens IntelligencePro's drag-and-drop
reporting and dashboards will help FUMICO more effectively
understand our underwriting risks and claims losses, while
generating actionable insights for our teams to review."
"We are pleased to welcome another mutual insurer to the Sapiens
family," said Roni Al-Dor, president
and CEO, Sapiens. "The pre-integration between our CoreSuite
modules and digital offerings enables insurers to transform
quickly, without disrupting their core business. Sapiens is pleased
to partner with FUMICO and we look forward to fruitful
collaboration."
FUMICO will benefit from Sapiens' CoreSuite over the cloud,
which offers the highest levels of security and supports
pre-integration with some of the industry's leading third-party
packaged solutions. With easy access to the Sapiens partner
ecosystem, FUMICO will be able to utilize a wealth of partner
applications and services.
About FUMICO
Farmers Union Mutual Insurance Company (FUMICO) is the largest
domiciled property and casualty insurance company in Montana, writing business in Montana since 1915. FUMICO, rated A –
(excellent) by AM Best, is one of the largest writers of farm and
ranch business and a major writer of homeowners and commercial
insurance in the state. FUMICO has approximately 60 agents located
in the rural communities of Montana. For more information:
www.fumico.net.
About Sapiens
Sapiens International Corporation empowers insurers to succeed
in an evolving industry. The company offers digital software
platforms, solutions and services for the property and casualty,
life, pension and annuity, reinsurance, financial and
compliance, workers' compensation and financial markets. With
more than 35 years of experience delivering to over 450
organizations globally, Sapiens has a proven ability to satisfy
customers' core, data and digital requirements. For more
information: www.sapiens.com.
Investor and Media Contac
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: Yaffa.cohen-ifrah@sapiens.com
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SOURCE Sapiens International Corporation