(Interior of Bradford Cathedral, in the eponymous city where Iconica is headquartered. Photo credit: BradfordCathedral.org.)
Iconica Business Services Limited (Iconica; Bradford, U.K.), an FCA-authorized company owned jointly by Congregational & General Insurance plc and Integra Insurance Solutions Ltd., has selected the Sapiens (Holon, Israel) IDIT Insurance Suite as its new core insurance system for its general lines of business.
Iconica’s specialized business model, by which it serves as underwriter for church lines of business and as an MGA for household insurance, required a system with a high degree of flexibility and a wide range of functionality, according to a Sapiens statement. The company’s legacy environment no longer met the organization’s needs and business goals, prompting the search for a modern core solution.
“After we evaluated our options, selecting Sapiens was a fairly easy decision for us. We felt the IDIT Suite was not only a good technological and functional fit, but also promised the lowest risk and best value,” said Matt Wood, head of business operations, Iconica. “We also appreciated Sapiens’ commitment to our success—the team worked diligently with us through every phase of the evaluation and blueprint effort.”
Benefits that Iconica anticipates from the Sapiens IDIT implementation include: a modern environment with increased automation and greater effectiveness for servicing Iconica’s clients and brokers; improved time utilization for underwriting, claims and finance resources; and overall operational improvements.
Proven Delivery Capability
“Choosing a new core insurance system is much more than a box-ticking exercise of system functionality,” Iconica’s Wood adds. “Having a great system is certainly a key factor, but focusing on both the partner and the implementation journey and beyond were equally important factors for us in selecting Sapiens for our future system needs. We wanted to work with an organization that understood our business needs, one that we could really connect with, and who had proven delivery capability.”
This deal can be seen as the latest demonstration of Sapiens’ ability and flexibility to support specialist insurance providers, asserts Raj Ghuman, VP of sales and operations, Sapiens Europe. “We continue to enjoy a good deal of traction in the UK market and we are delighted to welcome Iconica to our growing list of clients in the region and in household lines of business,” Ghuman comments.