Global provider of software for insurance firms Sapiens has announced that Rockford Mutual Insurance Company has chosen ReinsurancePro to fully automate its reinsurance management processes.
In addition, Rockford intends to maximise efficiency and profitability, as well as mitigate costly claims leakage.
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Furthermore, a longtime Sapiens customer, Rockford Mutual selected Sapiens ReinsurancePro to achieve its reinsurance business objectives, in conjunction with the Sapiens FinancialPro and StatementPro solutions that they already utilise.
Sapiens’ automated solution systematically eliminates complexities within treaties by balancing the appropriate coverage with the rising costs of coverage, enabling Rockford Mutual to track, bill, recover reinsurance, and capture data appropriately.
“Sapiens’ automation solution gives us full control over our processing, reporting, and auditability, and ensures that we have the tools in place to prevent potential claims leakage,” said Tiffany Herron, Rockford Mutual’s assistant vice president of financial services. “We needed a solution that allowed for ease of use across the company, to make the processing easier for our accounting and claims departments.”
“We are proud to be Rockford Mutual’s partner of choice for the automation of their reinsurance processes, and to optimise their retention levels by empowering a reinsurance programme that’s financially stable and reportable,” said Roni Al-Dor, Sapiens president and CEO. “Our value-added solutions and services are created to empower our customers to grow in a competitive climate.”
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By GlobalDataSapiens has also announced that Pan-American Life Insurance Group (PALIG) has gone live with Sapiens IllustrationPro, an SaaS solution hosted on the Microsoft Azure cloud.
PALIG chose Sapiens to consolidate illustrations on a single platform and provide insurers with faster time to market within the North America.
In addition, PALIG is in production with an Index Universal Life (IUL) product, and plans are underway for more product implementations in North America.
