Sapiens Reinsurance Selected by West Bend Mutual Insurance

By Rahul Arora
TMCnet Contributor

Sapiens International Corporation, a provider of software solutions for the insurance industry, recently announced that its Reinsurance solution has been selected by Wisconsin-based West Bend Mutual Insurance (West Bend) to better manage and control its reinsurance business and related processes.

Sapiens Reinsurance is a business & accounting solution that supports all reinsurance contracts and activities. The solution enables insurers and brokers to handle all reinsurance activities on a single platform. By incorporating fully automated functions adapted conveniently for your business procedures, Sapiens Reinsurance provides flexible and full financial control of your reinsurance processes, including full support for all auditing requirements and statutory compliance.

"We were impressed with the technology and comprehensive capabilities offered by the Sapiens Reinsurance solution," said Heather Dunn, West Bend's vice president and controller. "The implementation of a new reinsurance system is a long term commitment, so part of our evaluation process was taking a close look at the vendor's organization. We were especially pleased with Sapiens' partnership approach and we felt their commitment to our success foreshadows how they will continue to value the relationship."

"We are seeing a growing demand from the industry for our reinsurance solution in the U.S., as well as in the global market," said Roni Al-Dor, president and CEO of Sapiens. "We strongly believe that our commitment to our clients and partnership approach bring just as much value as our software and are critical components to delivering a complete solution and sustainable value." .

Last year, Royal and Sun Alliance, a multinational general insurance group serving customers in around 140 countries, selected Sapiens Reinsurance, a comprehensive business management and accounting solution, to manage its group reinsurance portfolio. The solution provided full support for risk accumulation and exposure management, ensuring accuracy and control of all business processes via automated workflow activities and business functionality, including comprehensive audit and tracking of all business activities and accounting procedures.