(Photo credit: chensiyuan)
Budget Direct Insurance (Singapore), a subsidiary of Auto & General Southeast Asia (Singapore), has deployed Sapiens’(Holon, Israel) IDIT to enable “digitally led” insurance business that can offer highly customized products.
As a relatively new player in the competitive Singapore market, Auto & General Southeast Asia selected Sapiens IDIT for Budget Direct Insurance Singapore after an extensive search, the vendor reports. The insurer judged that the Sapiens suite possessed all the necessary elements for a greenfield direct insurance business, such as a pre-integrated, digital cloud offering, quick user configurability, robust document creation/management capabilities and support for multiple motor, property and liability insurance products on a single platform, according to the vendor.
Among the benefits Auto & General Southeast Asia has enjoyed so far through deployment of IDIT is the significant reduction of the number of third-party systems it requires, increasing business agility and efficiency, according to Sapiens. The suite has provided Budget Direct Insurance with the flexibility to quickly release new, tailored products to market, including the release of the insurer’s “Motorcycle” was released as a new offering, as well as “Car” and “Travel,” the vendor says.
Highly Customizable Products and Policies
“Sapiens IDIT is a highly configurable product that enables Budget Direct Insurance Singapore to offer highly customizable policies and products, which is critical for a modern, digitally-led insurance business,” comments Simon Birch, CEO, Auto & General Southeast Asia. “Sapiens has shared their technology road maps and demonstrated willingness to adopt customer feedback into their future product design, which we believe will help us ‘future-proof’ Budget Direct Insurance Singapore.”
“We feel that Sapiens IDIT configurability, along with its platform stability and extensive functionality, is a key differentiator for both Sapiens and our customers,” comments Roni Al-Dor, Sapiens president and CEO. “Sapiens is pleased to welcome Auto & General Southeast Asia to our growing general and direct insurance line of business customer base.”