Royal and Sun Alliance Selects Sapiens Reinsurance Solution

By Anil Sharma
TMCnet Contributor

Royal and Sun Alliance (RSA (News - Alert)), a multinational general insurance group serving customers in around 140 countries, has selected Sapiens Reinsurance, a comprehensive business management and accounting solution, to manage its group reinsurance portfolio.

Sapiens Reinsurance is a comprehensive business and accounting solution designed to support the entire range of reinsurance contracts and activities for all lines of business. Officials with Sapiens International, a global provider of innovative software solutions for the financial services industry, said that this state-of-the-art software product enables insurers and brokers to handle all reinsurance activities on a single platform.

By incorporating fully automated functions adapted conveniently for one’s business procedures, Sapiens Reinsurance provides flexible and full financial control of reinsurance processes, including full support for all auditing requirements and statutory compliance.

Company officials said that anticipated benefits include improved management and control of RSA's reinsurance program and global operations.

According to company officials, Sapiens Reinsurance will also provide full support for risk accumulation and exposure management, ensuring accuracy and control of all business processes via automated workflow activities and business functionality, including comprehensive audit and tracking of all business activities and accounting procedures.

"We have selected Sapiens due to the rich business functionality of its solution - Sapiens Reinsurance - combined with the professionalism of their personnel,” said Steve Lague, head of group reinsurance operations, RSA, in a statement.

“We see a tremendous amount of value in Sapiens' domain expertise and understanding of our unique business needs, as well as the cultural alignment between the organizations which bodes well for the relationship going forwards," Lague added.

Roni Al-Dor, president and CEO of Sapiens, said that the company is proud to have RSA as its customer, and appreciate their recognition of the company’s reinsurance solution and the value of the dedicated and skilled staff.

“RSA joins a growing and impressive portfolio of customers that have chosen to work with Sapiens, and we look forward to helping RSA derive the highest possible value from this solution," Al-Dor said.

Raj Ghuman, vice president of sales and operations for Sapiens Europe, said that the company is delighted to have RSA as its customer: “The commitment RSA has shown to the Sapiens Reinsurance solution is a strong vote of confidence in both our product and team, and is testimony to the quality and value of the partnership developed between Sapiens and RSA during the selection process.”