July 1, 2013
Sapiens International Corporation
, (NASDAQ and TASE: SPNS), a global provider of innovative software solutions for the financial services industry, announced today that
Royal and Sun Alliance (RSA)
- one of the world's leading multinational general insurance groups, serving customers in around 140 countries - has selected
, a comprehensive business management and accounting solution, to manage its Group Reinsurance portfolio.
Anticipated benefits include improved management and control of RSA's reinsurance program and global operations. 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.
The solution also features a single repository for all information, providing support for operational reporting, management information and business analytics, statutory requirements and compliance.
Commenting on the selection of Sapiens Reinsurance, RSA's Head of Group Reinsurance Operations,
said, "We have selected Sapiens due to the rich business functionality of its solution - Sapiens Reinsurance - combined with the professionalism of their personnel. 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."
, President and CEO of Sapiens, commented, "We are proud to have RSA as our customer, and appreciate their recognition of our reinsurance solution and the value of our 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."
Raj Ghuman, VP Sales and Operations - Sapiens Europe, noted, "We are delighted to have RSA as our 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."