West Bend Mutual Takes on Reinsurance with Sapiens
P&C insurer West Bend Mutual Insurance Co. now is in production with Sapiens’ Reinsurance platform. The project was completed on budget and within just eight months, Sapiens said.
West Bend selected Sapiens Reinsurance based on its robust functionality, compatible architecture platform, reinsurance domain expertise and the company’s ability to meet project timelines, Sapiens said. And the platform already is enabling the insurer to better manage and control its reinsurance business and related processes, and is expected to result in more efficient operations and the ability to better access use data for future business endeavors.
“Sapiens’ ability to satisfy our business needs and timeline expectations has been impressive,” said Heather Dunn, West Bend’s VP and controller. “West Bend deliberately chose an established and robust reinsurance product and proven partner we could trust to provide long-term delivery reliability, technology innovation and a professional team.”
Sapiens Reinsurance is designed to manage reinsurance contracts and activities for all lines of business and include accounting functionality and reporting capabilities; the reinsurance application offers a single, consolidated platform that enables control of reinsurance processes with built-in automation of contracts, calculations and processes, Sapiens said, resulting in optimized operations, enabling tracking and auditability, as well as support for statutory reporting and compliance.