Sapiens International Corporation, a global provider of software solutions for the insurance industry, has been selected by European insurer MS Amlin Insurance.
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.
MS Amlin Insurance S.E. is a specialist P&C and Marine insurer with local teams operating across markets within Europe and the UK.
Many of MS Amlin Insurance’s core systems in its French, Belgian, and Dutch markets will be replaced by Sapiens IDITSuite.
Sapiens said this will lead to significant gains in simplicity and consistency across markets. Cost savings will be achieved both through retiring a large number of outdated legacy applications, and by reducing reliance on complex onsite IT systems.
Sapiens IDITSuite is a digitally led, award-winning, end-to-end, cloud-based modular insurance platform; supporting personal and commercial lines of business from acquisition to billing, claim and renewal.
The MS Amlin Insurance implementation will be using the PolicyMaster, BillingMaster, and ClaimsMaster components, complimented by the market-leading Sapiens ReinsuranceMaster module covering both ceded and assumed business.
This is underpinned by the Sapiens Intelligence data and analytics module that pools the insurer’s data to provide actionable insights that improves underwriting risk selection and reduces claims expense ratios.
Norbert Herkströter, COO of MS Amlin Insurance, said, “We knew that our requirements would not be easy to fulfil. We found Sapiens exceptionally proficient at meeting the high benchmarks we set. I have no doubt that this will be a mutually rewarding partnership, and I am excited to see our company continue to flourish with the support of Sapiens technology.”
Roni Al-Dor, Sapiens president and CEO, added, “Achieving simplicity and operational excellence can be a significant challenge and meeting such challenges is one of Sapiens’ chief strengths. Deploying a single instance of our cloud-based P&C platform across three countries to support MS Amlin Insurance’s profitable growth plans, whilst providing operational efficiencies and enhanced customer and broker experiences is a tremendously complex operation. For Sapiens, it is our mission to overcome such obstacles.”
In December last year, Singapore-based InsurTech bolttech selected Sapiens,
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