Sapiens launches revamped reinsurance and analytics solution | Insurance business America
The Version 9 update offers several improvements
reinsurance
By Kenneth Araullo
Insurance solutions provider Sapiens has announced the launch of version 9 of its Sapiens ReinsuranceMaster. The latest update introduces a number of technological advances and functional improvements aimed at increasing the efficiency of insurers and reinsurers.
The tool serves as a unified platform for managing large and multinational reinsurance programs. It ensures financial control and flexibility across various business areas and supports a wide range of reinsurance contracts.
This comprehensive coverage includes audit functions, a consolidated view of liabilities and risks, and financial loss prevention measures.
The upgrade includes new features such as automated global cross-company retrocession, improvements to meet U.S. NAIC regulatory reporting requirements (Appendix F), and provisions to support real-time reinsurance allocation, which the company calls “reinsurance as a service.”
A key enhancement in this release is the integration of Sapiens Intelligence with Sapiens ReinsuranceMaster, which expands data capabilities and provides users with comprehensive analytics and reporting on reinsurance portfolio performance.
The version 9 update also focuses on user experience, offering a redesigned user interface and improved processing performance. These improvements include better scalability and usability with the aim of optimizing the overall functionality of the system.
Commenting on the release, Roni Al-Dor, President and CEO of Sapiens, emphasized the strategic importance of reinsurance in today’s market.
“Given the growing importance of reinsurance in today’s volatile environment, our latest release of Sapiens ReinsuranceMaster with Sapiens Intelligence offers insurers and reinsurers even greater value and meets the ever-changing needs of this dynamic market,” said Al-Dor.
He also emphasized that the new version leverages insights from the company’s global customer base and other products to automate complex reinsurance programs and provide key insights into performance and regulatory compliance.
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2024-04-26 14:18:55
www.insurancebusinessmag.com
