(Image credit: Kanenori.)
Clear Blue Insurance Group, a property and casualty enterprise that provides commercial and personal insurance programs in partnership with general agencies and reinsurers, has selected Sapiens’ (Holon, Israel) Sapiens ReinsurancePro system to help manage the increasing volume and complexity of the insurer’s ceded reinsurance strategy.
“Sapiens’ solution stands out in the industry for its proven ability to improve efficiency while expanding our capabilities to manage for complex structures and total capacity,” comments Peter Klope, COO, Clear Blue. “This will enable Clear Blue to better serve our partners. ReinsurancePro’s strong automation and highly transparent, efficient platform will provide auditable processing, manage complex reinsurance transactions and quickly respond to new reinsurance offerings.”
Sapiens ReinsurancePro manages the entire range of reinsurance contracts and activities for all lines of business, according to the vendor’s description. Built-in automation of contracts, calculations and processes provide flexible and full financial control of the reinsurance processes, including auditing requirements and statutory compliance, the description says. Sapiens reports that more than 100 insurers worldwide use Sapiens’ reinsurance solutions.
Clear Blue chose a cloud-based reinsurance system to meet two criteria, Sapiens repots. The first was accessibility of the platform at any time and from any place, and the second was the need for additional IT resources—which now available as part of Sapiens managed services package. Sapiens says itss range of managed services allow insurers to focus on the main business while leveraging professional support of a team with intimate knowledge and expertise.
Simple, Streamlined Reinsurance Administration Platform
“Clear Blue was seeking a simple, streamlined reinsurance administration platform with a capacity for tracking policy and claims transactions, that automates complex accounting tasks and is very flexible enough to change with new terms and conditions,” comments Roni Al-Dor, president and CEO, Sapiens. “Sapiens powerful ReinsurancePro solution, our use of the Microsoft Azure platform and the openness of the database tables were strong deciding factors for Clear Blue. We are very pleased to empower Clear Blue in their quest for full financial control of the reinsurance processes and to enable them to meet the needs of their reinsurance partners.”