(Hollard’s Botswana branch building. Photo credit: Hollard Insurance Group.)
Hollard Insurance Group, South Africa’s largest independent insurance group, has selected Sapiens’ Reinsurance solution to manage its entire reinsurance portfolio. The Johannesburg-based carrier reports that it chose the Sapiens solution due to its flexibility and rich functionality, following what the carrier calls a comprehensive search process.
“We also recognize the tremendous value of Sapiens’ domain expertise and their understanding of our unique business needs, as well as the cultural alignment between our respective organizations, which serves as a good foundation for the business relationship,” comments Elaine Harker, head of Hollard’s reinsurance operations. “It was critical for us to have a partner with a proven track record of partnering organizations with a global expanse, as well as a reinsurance solution meeting our global business requirements.”
The Sapiens solution features a single repository for all information, providing support for operational reporting, management information and business analytics, statutory requirements and compliance, according to a vendor statement. Sapiens cites the following as benefits Hollard will enjoy as a result of the Reinsurance solution deployment:
- improved management and control of the reinsurance program and global operations;
- full support for risk accumulation and exposure management;
- accuracy and control of all business processes via automated workflow activities and business functionality;
- comprehensive audit and tracking of all business activities and accounting procedures.
Hollard provides general insurance and customer insurance solution, operating from offices in Botswana, Mozambique, Namibia, Pakistan, Zambia, Australia, China and India – offers general and bespoke solutions in short term and life insurance as well as investments.