Corporation, a leading global provider of software solutions for the insurance industry, announced the deployment of its cloud-first P&C core platform IDITSuite, in addition to the Data Analytics platform Sapiens Intelligence, with bolttech, a major international insurtech.
bolttech’s legacy systems for its Hong Kong general insurance operations are being replaced by the Sapiens solution to provide greater automation and standardization, and globally available oversight on policies, risk exposures, and data. The transition to a cloud-native architecture is intended to decrease their annual infrastructure total cost of ownership (TCO) and improve their scalability and performance.
Sapiens Intelligence will provide an enterprise-wide consolidated view of the organization’s data for analytical reporting and predictive modeling to support more accurate underwriting.
“As an international and fast-growing insurtech, we have been focused on ensuring our Hong Kong business continues to be competitive in a rapidly evolving landscape,” said Alister Musgrave, General Manager, Hong Kong for bolttech. “We found that Sapiens was the ideal partner to scale and evolve the digitalization of our back-end systems.”
In addition to the core transformation and data analytics, Sapiens is providing bolttech with Cloud & Operations on all layers (Cloud Hosting and Application Management) as well as the Sapiens API Conductor (ACE). The latter will enable bolttech to launch easy-to-consume digital APIs for its digital portals and ecosystem.
“We are excited to embark on this new challenge alongside bolttech,” said Roni Al-Dor, Sapiens president and CEO. “We look forward to working together to ensure that bolttech’s Hong Kong business has all the digital tools it needs to stay ahead of the curve. In addition, it is always gratifying to enter a new market, and meeting Hong Kong’s regulatory landscape will be a worthwhile effort on our part.”
Sapiens IDITSuite is a component-based, core software solution for end-to-end core operations and processes. An award-winning Policy Administration System, it supports personal and commercial lines of business from acquisition, billing, claim, and renewal.