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Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, announced that Rockford Mutual Insurance Company has selected Sapiens ReinsurancePro to fully automate their reinsurance management processes, to maximize efficiency and profitability, and mitigate costly claims leakage.
ReinsurancePro’s strong automation and highly transparent, efficient platform will enable Rockford Mutual to seamlessly conduct auditable processing, manage complex reinsurance transactions, and quickly respond to new reinsurance offerings. Sapiens’ automated solution systematically eliminates complexities within treaties by balancing the appropriate coverage with the rising costs of coverage, enabling Rockford Mutual to track, bill, recover reinsurance, and capture data appropriately.
A longtime Sapiens customer, Rockford Mutual selected Sapiens ReinsurancePro to achieve their reinsurance business objectives, in conjunction with Sapiens FinancialPro and StatementPro solutions that they currently use.Sapiens ReinsurancePro efficiently automates the underwriting and administration of reinsurance, including treaty and facultative, ceded, assumed, and retroceded reinsurance. Created and designed exclusively for the reinsurance market, Sapiens ReinsurancePro manages the entire range of reinsurance contracts and activities for all lines of business.
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Industry Comments
“Sapiens’ automation solution gives us full control over our processing, reporting, and auditability, and ensures that we have the tools in place to prevent potential claims leakage,” said Tiffany Herron, Rockford Mutual’s Assistant Vice President of Financial Services. “We needed a solution that allowed for ease of use across the company, to make the processing easier for our accounting and claims departments.”
“We are proud to be Rockford Mutual’s partner of choice for the automation of their reinsurance processes, and to optimize their retention levels by empowering a reinsurance program that’s financially stable and reportable,” said Roni Al-Dor, Sapiens President and CEO. “Our value-added solutions and services are created to empower our customers to grow in a competitive climate.”
