Sapiens' automation of the reinsurer's processes ensures financial stability and operational excellence
ROCHELLE PARK, N.J., Aug. 6, 2024 -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today 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' 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."
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.
About Rockford Mutual Insurance Company
Rockford Mutual Insurance Company provides products and services in the states of Illinois, Wisconsin and Indiana with a reputation and financial stability obtained by over 100 years of business. Rockford Mutual is committed to the Independent Agency System and all of the company's business is produced through a network of local independent agents who understand the needs of their customers. For more information, please visit www.rockfordmutual.com
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) and (TASE: SPNS) is a global leader in intelligent insurance software solutions. With Sapiens' robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. We help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers' compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative SaaS offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success. Visit our website at www.sapiens.com
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