Tokio Marine Management Inc. (TMM) has selected RapidSure Policy Administration and Reinsurance solutions to enhance its legacy environment and enable faster times to market. RapidSure is a product of Sapiens International Corp., a global provider of insurance software solutions and a member of the Formula Group. Sapiens says the implementation currently is underway and on track for production readiness in Q4 2011.

Sapiens says that, upon completion of the implementation, insurance software solutions will provide policy processing capabilities for TMM’s 12 lines of personal and commercial business, and support for TMM’s reinsurance business. The phase of implementation now underway will replace key policy booking functionality within TMM’s existing legacy environment. TMM anticipates significant cost savings with the Sapiens systems and a one-year return on investment, Sapiens adds.

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