AEGIS, a mutual insurance company, has selected Sapiens International Corporation, a global provider of software solutions for the insurance industry, to modernise its reinsurance process.
AEGIS provides liability and property coverage, as well related risk management services to the energy industry.
Sapiens aims to empower the financial sector, with a focus on insurance, to transform and become digital, innovative and agile. The company provides an insurance platform with pre-integrated, low-code solutions and a cloud-first approach.
AEGIS company selected Sapiens ReinsurancePro to replace its complex combination of disparate custom applications and spreadsheets to streamline and optimise processes.
The software supports all types of reinsurance processing, regardless of volume, in one comprehensive reinsurance system. Sapiens said this empowers insurance companies to manage and automate the underwriting and administration of reinsurance, including treaty and facultative, ceded, assumed and retroceded reinsurance.
Scott Schenker, AEGIS Senior VP & CIO, said, “Implementing Sapiens Reinsurance solution will help us manage the increasing volume and complexity of our ceded reinsurance strategy and quickly respond to new reinsurance offerings,” said. “Sapiens’ solution stands out in the industry for its proven ability to automate complex reinsurance requirements and improve efficiency. The solution will expand our capabilities to manage complex structures and total capacity, within a competitive cost structure.”
Jamie Yoder, Sapiens North America president & general manager, added, “We are very pleased to empower AEGIS in their quest for full financial control of the reinsurance processes and to enable them to increase efficiency by streamlining the process.
“Our platform enables AEGIS to take ownership of their data and proactively conduct analysis on that data instead of relying on IT or external parties, so they can better serve their customers.”
Recently, Old Mutual Insure (OMI), a 177-year old South African insurer, selected Sapiens, a global provider of software solutions for the insurance industry, for its data and analytics solution.
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