(Image credit: William William/Unsplash.)
MS Amlin Insurance S.E. (London), a specialist property/casualty and marine insurer with local teams operating across markets within Europe and the U.K., has selected Sapiens (Holon, Israel) to deliver an overhaul of a number of the insurer’s software systems across several European countries.
Many of the insurer’s legacy core systems in its French, Belgian, and Dutch markets will be replaced by Sapiens IDITSuite, leading to significant gains in simplicity and consistency across markets, according to a vendor statement. Cost savings will be achieved both through retiring a large number of outdated legacy applications, and by reducing reliance on complex onsite IT systems, the Sapiens statement adds.
“We knew that our requirements would not be easy to fulfil,” comments Norbert Herkströter, COO, MS Amlin Insurance. “We found Sapiens exceptionally proficient at meeting the high benchmarks we set. I have no doubt that this will be a mutually rewarding partnership, and I am excited to see our company continue to flourish with the support of Sapiens technology.”
Sapiens describes its IDITSuite as a digitally led, end-to-end, cloud-based modular insurance platform; supporting personal and commercial lines of business from acquisition to billing, claim and renewal. The MS Amlin Insurance implementation will be using the PolicyMaster, BillingMaster, and ClaimsMaster components, complimented by the market-leading Sapiens ReinsuranceMaster module covering both ceded and assumed business, the vendor reports. The systems will be underpinned by the Sapiens Intelligence data and analytics module that pools the insurer’s data to provide actionable insights that improves underwriting risk selection and reduces claims expense ratios.
Single Instance Across Three Countries
“Achieving simplicity and operational excellence can be a significant challenge and meeting such challenges is one of Sapiens’ chief strengths,” comments Roni Al-Dor, President and CEO, Sapiens. “Deploying a single instance of our cloud-based P&C platform across three countries to support MS Amlin Insurance’s profitable growth plans, whilst providing operational efficiencies and enhanced customer and broker experiences is a tremendously complex operation. For Sapiens, it is our mission to overcome such obstacles.”
The project will commence with MS Amlin Insurance’s operation in France before rolling out to their Belgium and Netherlands markets. MS Amlin is owned by MS&AD (Tokyo).