MS Amlin Insurance will replace legacy core systems in French, Belgian and Dutch markets with Sapiens Core P&C Platform and Reinsurance module, underpinned by its Data & Analytics solution; all delivered in the Sapiens Cloud
HOLON, Israel, Feb. 2, 2023 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that major European insurer MS Amlin Insurance S.E. has selected Sapiens to deliver an overhaul of a number of their 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. Cost savings will be achieved both through retiring a large number of outdated legacy applications, and by reducing reliance on complex onsite IT systems.
"We knew that our requirements would not be easy to fulfil," said Norbert Herkströter, COO of 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 IDITSuite is a digitally led, award-winning, 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. This is 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.
"Achieving simplicity and operational excellence can be a significant challenge and meeting such challenges is one of Sapiens' chief strengths," said Roni Al-Dor, Sapiens President and CEO. "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.
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by more than 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers' compensation, and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn.
About MS Amlin Insurance
MS Amlin Insurance S.E. is a specialist P&C and Marine insurer with local teams operating across markets within Europe and the UK. With a desire to provide an unparalleled service experience, MS Amlin Insurance works closely with brokers and businesses to deliver bespoke and digitally traded solutions to meet client's insurance needs.
Part of the MS&AD Group, a global top 10 non-life insurer; MS Amlin Insurance is domiciled in Belgium and is rated A (Stable) by Standard & Poor's and A (excellent) AM BEST.
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