Automotive Specialist Tradex Insurance Modernizes on Sapiens IDIT Suite

The automotive risk specialty insurer’s Sapiens IDIT-based modernization project will include policy administration, billing and collection, agent and commission management and claims management, fully replacing the carrier’s legacy environment.

(Photo credit: Alex Cheban.)

Tradex Insurance Company Ltd., a London-based specialty insurer focused on automotive risk, has selected Sapiens (Holon, Israel) IDIT Software Suite to modernize and enhance its core insurance processing environment. Factors in the insurer’s decision include Sapiens IDIT being the best functional and technology fit for the carrier’s processing needs and the vendor’s provision of a dedicated team during implementation.

Tradex sought a system that would support improved data analysis, giving the carrier greater insight into its operations, while providing the flexibility and agility to adapt system business rules and processes as required, according to Stephen Endean, CEO of Tradex. “We are confident that Sapiens’ industry-proven suite will satisfy our needs,” Endean comments. “And the strong working relationship that was forged during the evaluation and selection phases will serve Tradex well in the future and help us embody our slogan, ‘Flexible insurers of the unique.’”

Tradex’s Sapiens IDIT-based modernization project will include policy administration, billing and collection, agent and commission management and claims management, fully replacing the carrier’s legacy environment. Benefits that Tradex expects include:

  • Increased efficiencies, with greater automation and streamlined processing
  • Rapid time to market for product enhancements and new lines of business
  • Improved data integrity
  • Lower cost of ownership

“Our Sapiens IDIT suite has been well received in the important UK market, where we continue to strengthen our footprint,” remarks Gary Sherne, president of Sapiens’ General Insurance and Reinsurance division. “A solution is so much more than a software component—the expertise and skill of our committed team is a major selling point. Sapiens looks forward to continuing our collaboration with Tradex.”

 

 

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For over a decade he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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