Gateway, a licensed carrier across 47-states owned by Buckle,
selects Sapiens integrated financial solutions to further
streamline and automate insurance processes
JERSEY CITY, N.J. and
RALEIGH, N.C., Dec. 1, 2020 /PRNewswire/ -- Buckle, a
tech-enabled financial services company, announced its licensed
carrier, the Gateway Insurance Company, has selected Sapiens
Americas, a wholly owned subsidiary of Sapiens International
Corporation, (NASDAQ: SNPS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry.
Gateway has launched a unique digital fronting strategy™ with
multiple value-propositions for partners through an a-la-carte
insurance program offering with digital capabilities. Sapiens
Reinsurance GO, Sapiens FinancialPro, and Sapiens StatementPro will
enable Gateway to transform its financial, compliance, and
reinsurance management.
In June, Buckle announced the acquisition and recapitalization
of Gateway, including its 47-state insurance licenses. Through its
digital fronting strategy™, Buckle has expanded insurance coverage
to include transportation network companies (TNCs), traditional
taxi, limo, and livery businesses using Lyft, Uber, and other
apps.
"The Gateway Insurance Company team is deeply familiar with the
wide range of functionality of Sapiens' digital solutions, so this
was a natural selection," said Marty
Young, Co-founder and CEO of Buckle. "When Buckle acquired
Gateway in June, Sapien's flexibility allowed us to onboard Gateway
efficiently and quickly. We look forward to our continued
relationship to efficiently manage accounting, reporting, and
reinsurance contracts, particularly through rapid growth and
expansion."
Combining Sapiens' best-in-class financial and reinsurance
solutions gave Buckle a one-stop-shop for many of its needs.
Sapiens FinancialPro provides the statutory, GAAP, and consolidated
financials necessary for Buckle to grow its portfolio of carriers,
while Sapiens StatementPro makes NAIC quarterly and annual
statements quicker and easier. Sapiens Reinsurance GO solution
delivers the accuracy, reliability, and flexibility needed to
manage multiple program partners with different reinsurance
agreements.
"Sapiens is proud to have been chosen by Buckle for our
comprehensive, digital financial solutions," said Roni Al-Dor, Sapiens President and CEO. "Sapiens
is a natural partner for Buckle because we share a commitment to
digital transformation and to exceeding our clients' expectations.
Our industry best practices and knowledge, combined with our
advanced digital financial and reinsurance platform, help insurers
lower operating expenses with faster, more accurate reporting."
Sapiens Reinsurance GO enables insurers to manage their entire
range of reinsurance contracts and activities for all lines of
business, offering rich accounting functionality and reporting
capabilities, lowering operating expenses. For more information,
click here:
https://www.sapiens.com/na/solutions/sapiens-reinsurance-go/.
Sapiens FinancialPro accounting software is designed for
insurers to meet their unique requirements for cash, statutory, and
GAAP reporting, as well as unique allocation and consolidation
needs, reducing the total cost of running financial software. For
more information, click here:
https://www.sapiens.com/na/solutions/sapiens-financialpro/.
Sapiens StatementPro makes the NAIC annual and quarterly
statement preparation faster and simpler by offering one-click
navigation between statements, pages, and form validations to the
pages they reference, offering instant point and click access and
expedited set-up and import. For more information, click here:
https://www.sapiens.com/na/solutions/sapiens-statementpro/.
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 & casualty,
life, pension & annuity, reinsurance, financial &
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.
About Buckle
Buckle provides a financial services platform that
focuses on insurance, credit and advocacy for the gig
economy. The company is reinventing the insurance model to
more efficiently manage risk, supporting the entire
ecosystem of drivers, fleets and transportation network platforms
to help everyone achieve economic freedom. Connect with Buckle on
Facebook, Twitter and LinkedIn. Visit www.buckleup.com.
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https://mma.prnewswire.com/media/585787/Sapiens_Logo.jpg
Media Contact (Buckle)
Tracy
Wemett
BroadPR
+1-617-868-5031
tracy@broadpr.com
Media Contact (Sapiens)
Alex
Zukerman
CMO and Chief of Strategy, Sapiens
+972 546 724 910
alex.zukerman@sapiens.com
All trademarks recognized.