Sapiens International, a global provider of software solutions for the insurance industry, with an emerging focus on the broader financial services sector, has announced that Hollard insurance group has selected Sapiens Reinsurance solution to manage its entire reinsurance portfolio.
Hollard – South Africa’s largest independent insurance group, with 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.
Commenting on the selection of Sapiens Reinsurance, Hollard’s Head of Reinsurance Operations, Elaine Harker said, "After running a comprehensive search process we are delighted to have selected Sapiens due to the rich business functionality and flexibility of its solution – Sapiens Reinsurance – and the professionalism of their personnel."
Harker continued, "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. 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."
Roni Al-Dor, President and CEO of Sapiens commented, "This is an important win for Sapiens in the South African insurance market and helps us to continue our growth and strong momentum in the Reinsurance sector. We are enjoying a great deal of market success with our Sapiens Reinsurance solution and a growing portfolio of clients globally."
Raj Ghuman, VP Sales and Operations, Sapiens Europe, noted, "We are absolutely delighted to be partnering with Hollard, representing a significant new addition to the Sapiens Reinsurance client family. We look forward to helping Hollard derive the highest possible value from its Sapiens solution."
Anticipated benefits from the deployment of Sapiens Reinsurance include:
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
The solution also features a single repository for all information, providing support for operational reporting, management information and business analytics, statutory requirements and compliance.