The North American insurer and financial services company
migrates to Sapiens ReinsurancePro version 8 in the cloud, which
offers faster processing and streamlined functionality
RALEIGH, North Carolina and
HOLON, Israel, May 5, 2020 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) and (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, today announced that Arrowpoint Capital, a company built
on its experience in both run-off and active insurance business by
"redefining success" through development and execution of
comprehensive solutions to manage claims and satisfy policyholder
obligations, has upgraded to version 8 of the cloud-based Sapiens
ReinsurancePro solution.
Arrowpoint Capital has transitioned from a previous version, a
mainframe COBOL-hosted system, to Sapiens ReinsurancePro, a SQL
Server/Java technology hosted system deployed over the cloud.
Arrowpoint Capital will benefit from Sapiens ReinsurancePro's
faster processing and streamlined functionality. The move helps
reduce operational costs and eliminated the risk of obsolete
technology supporting a key application.
This upgrade follows Sapiens' announcement that the company
signed its 100th reinsurance customer.
"Arrowpoint Capital views Sapiens as a long-term and strategic
vendor with extensive reinsurance knowledge and experience," said
Stewart Edgerton, Accounting Systems
manager. "Its team understands the North American market and offers
modern reinsurance technology over the cloud, which has empowered
Arrowpoint Capital with improved flexibility and agility. This
latest version of Sapiens ReinsurancePro is intuitive to use and
offers innovative features."
Edgerton continued: "The Sapiens and Arrowpoint Capital teams
worked together well and the project proceeded smoothly."
"Sapiens is pleased to move Arrowpoint's hosted solution to
version 8 of Sapiens ReinsurancePro in the cloud," said
Matthew Simmers, head of Reinsurance
for the Americas, Sapiens. "The solution continues to evolve, from
architectural and functional standpoints. One of our roles as a
managed services provider is to make the transition to the latest
version as seamless as possible, so customers can benefit from the
solution's new features. We look forward to a continued, mutually
beneficial relationship with Arrowpoint Capital."
Sapiens reinsurance solutions have reliably served customers
across the globe, including many tier 1 providers, for over three
decades. These systems enable insurers of all sizes to manage their
entire lifecycle and all types of reinsurance contracts for
property & casualty (P&C), including contract management,
technical accounting, reinsurance claims management, financial
& regulatory, and reporting.
About Arrowpoint Capital
Arrowpoint Capital acquired the U.S. insurance operation of
Royal & Sun Alliance Insurance Group plc in 2007. Since then,
the company has built on its experience in both run-off and active
insurance businesses as it continues to manage claims and satisfy
policyholder obligations. The management team brings strong
experience and a deep understanding of the insurance business to
Arrowpoint Capital's operations. Arrowpoint Capital conducts
business through one risk-bearing company, Arrowood Indemnity
Company.
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 500
organizations globally, Sapiens has a proven ability to satisfy
customers' core, data and digital requirements. For more
information: www.sapiens.com.
Logo:
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Media Contact
Alex
Zukerman
CMO and Chief of Strategy, Sapiens
+972 546 724 910
alex.zukerman@sapiens.com