Sapiens ReinsurancePro will improve reinsurance management
efficiency, expand capabilities for complex structures' management
and better serve its wholesale partners
RALEIGH, N.C., Oct. 5, 2021 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the financial
services industry, announced today that KW Specialty (KWS), a
leading surplus lines insurer based in Scottsdale, Arizona, has selected Sapiens
ReinsurancePro to automate their reinsurance management on the
cloud.
With more than 100 years of excess and surplus lines experience,
KWS collaborates with wholesale partners and create products
that offer additional value to their product portfolio. Their
deployment of Sapiens ReinsurancePro enables KWS to replace their
legacy, spreadsheet-driven process and ensure it is streamlined,
consistent and financially correct. The integration also enabled
KWS to add a Managing General Agent (MGA) book of business to
ReinsurancePro.
Moreover, by utilizing ReinsurancePro with Sapiens CoreSuite for
P&C, KWS will enjoy additional automation of processes
including automatic data transfer and coordination between systems,
more accurate accounting and better analysis and reporting.
KWS's decision to choose a cloud system for its reinsurance
management was prompted by accessibility of the platform 24*7 from
any place, and the additional IT resources available through
Sapiens managed services. Sapiens wide range of managed services
allow insurers to focus on their main business while leveraging
professional support of a team with extensive knowledge and
expertise.
"To expand our competitive edge, we were seeking a comprehensive
reinsurance solution that supported both ceded and assumed
business. We needed a solution that could easily integrate to our
existing ecosystem and would grow with us as we expand our
reinsurance program," said Rose
Troller, KW Specialty's VP Product and Data Analytics.
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 provide flexible and full financial
control of the reinsurance processes, including auditing
requirements and statutory compliance. More than 100 insurers
worldwide use Sapiens' reinsurance solutions. Sapiens
ReinsurancePro can integrate with any system and is pre-integrated
with Sapiens CoreSuite for P&C.
"Sapiens' comprehensive, auditable reinsurance solution will
empower KWS to quickly adapt to their expanding reinsurance
program. Our easy-to-use platform provides the most efficient
reporting to simplify and streamline their reinsurance
administration processes," said Jamie
Yoder, Sapiens North America President & General
Manager. "We are excited to expand our partnership with KWS and
enable their digital transformation to support their growth."
About KW Specialty
KW Specialty's personal lines approach is to collaborate with
wholesale partners and create products that add additional value to
their product portfolio. By offering innovative coverage and
technology techniques, effective solutions are presented for
varied, complex, and/or unusual risks. Proven personal lines
product knowledge and technical expertise helps KW Specialty
provide heightened dedicated service to the wholesale industry.
KW Specialty believes in letting their wholesale partners do
what they do best, manage their book of business. For more
information: www.kwspecialty.com.
About Sapiens
Sapiens International Corporation (Nasdaq and TASE: SPNS)
empowers the financial sector, with a focus on insurance, to
transform and become digital, innovative and agile. Backed by more
than 35 years of industry expertise, Sapiens offers a complete
insurance platform, with pre-integrated, low-code solutions and a
cloud-first approach that accelerates customers' digital
transformation. Serving over 600 customers in 30 countries, Sapiens
offers insurers across property and casualty, workers compensation
and life markets the most comprehensive set of solutions, from core
Policy, Billing and Claims to complementary, including Reinsurance,
Financial & Compliance, Data & Analytics, Digital, and
Decision Management. For more information visit
www.sapiens.com or follow us on LinkedIn.
Media
Contact
Shay
Assaraf
Chief of Marketing,
Sapiens
Shay.assaraf@sapiens.com
|
Investors
Contact
Daphna
Golden
Vice President, Head
of Investor Relations, Sapiens
ir@sapiens.com
|
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