(Interior of City Hall, City of London, home of RSA’s global headquarters. Source: http://www.londonslivingroom.co.uk/.)
Royal and Sun Alliance (RSA), a London-based insurer operating in 140 countries and with net written premium of £7.5 billion, has implemented Sapiens International Corporation’s (Holon, Israel) reinsurance system. RSA will use Sapiens Reinsurance (), which the vendor characterizes as a comprehensive reinsurance business management and accounting solution, to manage a large part of the carrier’s reinsurance arrangements.
The Sapiens solution replaces several of RSA’s legacy systems, enabling improved management control of the carrier’s external and internal reinsurance and providing comprehensive accounting management, according to the vendor. Sapiens Reinsurance supplies RSA with a single repository for all information, with support for operational reporting, accounts management, risk and financial exposure, the vendor says. Following the implementation, RSA is now working with Sapiens to develop management information to support business analytics, statutory reporting and compliance.
Automated Workflow, User-Defined Business Rules
Sapiens Reinsurance is also providing support for business process management via automated workflow activities and user-defined business rules with full audit trail for all transactions, the vendor reports.
“This project was one of Sapiens’ largest reinsurance delivery undertakings and it included extensive historical data migration and fully hosted services,” comments Raj Ghuman, VP of sales and operations, Sapiens Reinsurance. “We thank RSA and its business teams for making this complex implementation journey a reality.”