(Image credit: Patricia Alexandre/photo-graphe.)
Arrowpoint Capital, a Raleigh, N.C. based insurer with both run-off and active insurance business with a value proposition based on development and execution of comprehensive solutions to manage claims and satisfy policyholder obligations, has upgraded to version 8 of Sapiens’ (Holon, Israel) cloud-based Sapiens ReinsurancePro solution, according to a vendor statement. The upgrade follows Sapiens’ announcement that the company signed its 100th reinsurance customer.
Arrowpoint Capital has transitioned from a previous version, a mainframe COBOL-hosted system, to Sapiens ReinsurancePro, a SQL Server/Java technology hosted system deployed over the cloud, Sapiens reports. The vendor says that Arrowpoint Capital will benefit from Sapiens ReinsurancePro’s faster processing and streamlined functionality. The move helps reduce operational costs and eliminated the risk of obsolete technology supporting a key application, the vendor adds.
“Arrowpoint Capital views Sapiens as a long-term and strategic vendor with extensive reinsurance knowledge and experience,” comments Stewart Edgerton, manager, Accounting Systems, Arrowpoint Capital. “Its team understands the North American market and offers modern reinsurance technology over the cloud, which has empowered Arrowpoint Capital with improved flexibility and agility. This latest version of Sapiens ReinsurancePro is intuitive to use and offers innovative features.”
Edgerton remarks that, “The Sapiens and Arrowpoint Capital teams worked together well and the project proceeded smoothly.”
“Sapiens is pleased to move Arrowpoint’s hosted solution to version 8 of Sapiens ReinsurancePro in the cloud,” comments Matthew Simmers, head of Reinsurance for the Americas, Sapiens. “The solution continues to evolve, from architectural and functional standpoints. One of our roles as a managed services provider is to make the transition to the latest version as seamless as possible, so customers can benefit from the solution’s new features. We look forward to a continued, mutually beneficial relationship with Arrowpoint Capital.”