Property and casualty insurer Penn National Insurance has selected Sapiens’ ReinsurancePro solution to optimise reinsurance processes. This is part of its wider multi-year modernisation and automation initiative.
ReinsurancePro automates and manages reinsurance contracts and activities for all lines of business.
Penn National expects to complete implementation of the solution by January 2024 and it will use Sapiens cloud services for a “secure hosting” experience.
The firm says it required a solution to improve efficiencies in several divisions, most notably in reinsurance administration.
In addition, ReinsurancePro will enable the company to automate reinsurance from an infrastructure and planned cost perspective.
Jaquelyn Anderson, senior vice president at Penn National Insurance, comments: "Implementing Sapiens ReinsurancePro will help us modernise our reinsurance processes and better manage the increasing volume and complexity of future transactions."
