Old Mutual Insure (OMI), a 177-year old South African insurer, has selected Sapiens, a global provider of software solutions for the insurance industry, for its data and analytics solution.
OMI services personal, commercial and corporate customers across South Africa, as well as in Namibia, Botswana, Zimbabwe and Nigeria. The company said that with a gross written premium of over R15.92m, it is the second largest insurer in South Africa.
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.
Old Mutual Insure has been a Sapiens customer since 2006. Sapiens said the addition of Sapiens Intelligence is the “natural next step” in Old Mutual’s digital transformation strategy with Sapiens.
Sapiens said its solution will provide an enterprise-wide consolidated view of the organizstion’s data and support its reporting and analytics needs.
Denver Naidoo, Old Mutual Insure’s chief data officer, said, “We were looking for an enterprise-level data platform with native connectivity to our existing systems, and Sapiens Intelligence was a perfect fit.
“Due to licensing issues with our hosting platform, we requested that Sapiens cut back their normal nine-to-ten-month implementation period down to six or seven months, which they were successfully able to accommodate.”
Roni Al-Dor, Sapiens president and CEO, added, “Old Mutual Insure now has access to a wide landscape of heterogenous systems ranging from core applications from Sapiens to third-party external data sources. The foundational R&D that was done on this project will be brought to bear on other existing Sapiens Tia Enterprise customers, in regions across the globe.”
Sapiens, provider of software solutions for the insurance industry, partnered with cloud-based SaaS provider Charlee earlier this year, to leverage artificial intelligence (AI) and machine learning (ML) for property & casualty (P&C) insurers.
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