Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, with an emerging focus on the broader financial services sector, announced today that global specialist insurer Hiscox (HSX.L), has selected the Sapiens IDIT Software Suite (Sapiens IDIT) as a common platform for its global retail insurance businesses. The platform will include policy administration, claims, and billing.
"We looked at a number of packaged systems on the P&C market and Sapiens IDIT really stood out. The solution is agile and will boost our ability to respond to the industry's rapid rate of change," said Stephane Flaquet, Global CIO with Hiscox.
"Being selected by Hiscox is a significant win for Sapiens and helps us to continue our strong momentum in the international P&C market," said Roni Al-Dor, Sapiens President and CEO. "The Hiscox implementation further expands our footprint in the UK market - an important strategic target for Sapiens."
Hiscox selected Sapiens IDIT due in large part to the strong match of the solution's technology and functional capabilities to Hiscox's business needs. Also contributing to the decision was the close alignment between the companies' common cultures and mutual commitment to Hiscox success. Sapiens IDIT will serve as the common platform for retail insurance business. The implementation of Sapiens IDIT will also help Hiscox to:
- Provide a superior customer experience across all channels;
- Increase speed to market: Simplify and quickly apply system changes, enabling Hiscox to swiftly respond to new market opportunity and continually changing market dynamics; and
- Reduce overall total cost of ownership.