Sapiens International Corporation, a global provider of innovative insurance software solutions, announced today that MD Insurance Services from the United Kingdom had chosen Sapiens IDIT General Insurance solution to provide buildings warranty insurance to cover their existing 10-year guarantees.
The insurance industry has some unique software needs. Companies like Sapiens International focus exclusively on meeting those needs. Sapiens' focus is paying off in this contract with MD Insurance Services.
"We are proud of being selected by MDIS and we look forward to providing our award winning insurance technology solution to expedite the execution of MDIS global strategy,” said Yoel Amir, president of General Insurance & Non-Life Division. “Our continuous investment in the IDIT Software Suite and the XCelent top honor for the leading Advanced Technology score by Celent Policy Administration Report, demonstrate our undisputed commitment for insurance software innovation."
The project will include the deployment of Sapiens IDIT Software Suite for General Insurance as the new Web-based Policy Administration solution, enriched with a few functionality tweaks to enable readiness and compliance within the U.K.
Other countries will follow in later phases of the project, mostly focused in continental Europe, which for the most part is a regulatory environment similar to the U.K.
MDIS seems to be as happy as Sapiens with the new partnership. Gary Devaney, managing director at MDIS commented: "Our main challenge is to enhance our back office software and extranet portal capabilities to offer innovative home warranty covers. We are impressed with Sapiens IDIT's wide-ranging experience in the insurance sector and we consider Sapiens as a true partner to help us win this challenge."
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Edited by Braden Becker