(Image source: Edmonton, N.Y. municipal homepage.)
NYCM Insurance (Edmeston, N.Y.), a property and casualty insurance provider in operation for 120 years, has implemented Sapiens International Corporation’s (Holon, Israel) Sapiens ReinsurancePro to enhance its internal controls processes, automated calculations and reporting.
“Sapiens ReinsurancePro provides significant improvements over our previous software solution by both increasing efficiencies and enhancing our data access, reporting and extract capabilities,” comments Rich Inman, Accounting Supervisor, NYCM Insurance. “We really appreciate the true partnership we’re enjoying with Sapiens and the experienced Reinsurance team. They were with us step-by-step throughout the implementation and continue to provide excellent customer service.”
The implementation provided NYCM numerous benefits, according to a Sapiens statement, including reducing processing time by half each month, complete freedom from dependencies on outside reporting tools, ability to process monthly activity in real-time, and the strengthening of controls over their broad breadth of complex treaties.
Empowering to Better Serve Customers
“We are very pleased to empower NYCM in their quest for full financial control of the reinsurance processes and to enable them to increase efficiency and internal controls,” comments Roni Al-Dor, president and CEO, Sapiens. “By streamlining the process, Sapiens enables NYCM to take ownership of their data and proactively conduct analysis on that data instead of relying on IT or external parties. Ultimately this empowers NYCM to better serve their customers.”
Sapiens ReinsurancePro supports all types of reinsurance processing, regardless of volume, in one comprehensive and powerful reinsurance system, empowering insurance companies to manage and automate the underwriting and administration of reinsurance, including treaty and facultative, ceded, assumed and retroceded reinsurance, according to the Sapiens statement.