BI Module helps insurers refine reinsurance programs.
June 21, 2012 -
Offered as add-on module, Reinsurance BI provides reinsurance and risk managers with up-to-date information that is required for in-depth analysis of current business portfolio as well as development trends, supporting decision-making process and planning of reinsurance program. Program offers query models for profitability analysis and triangulations as well as accounting. Query results, presented in chart and/or graphical format, are printable and exportable to Excel workbook.
|Original Press release |
Sapiens USA, Inc.
2525 Meridian Pkwy., Suite 300
Durham, NC, 27713
Sapiens Introduces Business Intelligence for Reinsurance
The new module offers enhanced reporting and decision-making capabilities to help insurers refine their reinsurance programs
ROCHELLE PARK, New Jersey, -- Sapiens International Corporation [http://www.sapiens.com ], (NASDAQ and TASE: SPNS), a global provider of innovative insurance software solutions, today announced the introduction to the business intelligence (BI) module for Sapiens Reinsurance solution [http://www.sapiens.com/Reinsurance-Software.htm ]. The Reinsurance BI module is offered as an add-on module to Sapiens Reinsurance, and will be first presented at the IASA Show in San Diego this week.
Already in a production environment at a Sapiens client site, Reinsurance BI is currently deployed with three of the six planned Reinsurance BI query models. It currently includes profitability, triangulations and accounting, and by the end of 2012 it will also include claims profile, exposure, and risk profile query models that will be rolled throughout the year.
The Reinsurance BI module provides reinsurance and risk managers with up-to-date information that is required for in-depth analysis of the current business portfolio as well as development trends, supporting the decision-making process and planning of the reinsurance program.
The BI query models leverage a dedicated reinsurance BI multi-dimensional data model, providing great flexibility in presentation and analysis of business results. BI queries and results are based on user-defined criteria and can be presented by line of business, coverage, territory, country, accounting/underwriting/loss periods, broker, reinsurer, reinsurance contract, etc.
Capabilities currently offered include:
- query models for reinsurance program managers, providing analysis of business results as well as essential key performance indicators (KPIs) supporting the decision-making process;
- business queries for profitability analysis and triangulations;
- an accounting model is also provided, enabling convenient presentation and analysis of all business results by numerous dimensions; and
- query results presentation in chart and/or graphical format with all results exportable to an Excel workbook or in printable format.
Mr. Roni Al-Dor, Sapiens President and CEO noted that "our continued commitment to the insurance software market is well seen in our ongoing investment in R&D to keep our products at a leading edge".
Mr. Martin Greenberg, Reinsurance Product Manager at Sapiens, said, "Reinsurance BI offers our customers a greater ability to continually refine their reinsurance programs through ongoing analysis and more informed decisions."
The Sapiens Reinsurance offering is a comprehensive reinsurance business solution designed to support the management of the entire range of reinsurance contracts and activities of insurance companies. By incorporating in-depth, fully automated functions readily adaptable to each company's business procedures, the Sapiens Reinsurance solution provides comprehensive accounting capabilities and full financial control of the reinsurance practice, including support for all auditing requirements as well as regulatory reporting - Schedule F, P.
About Sapiens International
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global provider of innovative software solutions for the insurance industry. We offer end-to-end solutions for the Life&Pension, Property&Casualty, and Reinsurance markets. We serve over 100 financial services customers, backed by a team of over 750 insurance experts, operating through fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific.
For more information, please visit http://www.sapiens.com.
Osnat Segev-Harel, CMO