The Israeli information technology company Sapiens International Corp N.V. announced that it has concluded a multi-million dollar deal with Boston-based OneBeacon Insurance “to implement a web-enabled, policy administration system for all lines of business across multiple states.”
The Israeli company indicated that the agreement was “the largest ever Sapiens eMerge contract,” and “is intended to provide easier access to information by using web-based, personalized portals for independent agents and greatly improve internal efficiencies by consolidating and integrating disparate IT systems.”
“The resulting open architecture solution will allow OneBeacon to expand its market presence, enhance customer service and reduce costs by streamlining business processes. In addition, OneBeacon will have increased functionality and will be able to respond more quickly to rate and product opportunities,” the announcement continued
Sapiens had previously supplied a policy administration framework for OneBeacon’s commercial lines p/c business. The new contract will extend these capabilities to support “additional lines of business and interface with internal and third party systems.” The bulletin also indicated it would utilize IBM’s WebSphere and Sapiens “emerge rules-based technology.”
OneBeacon management seemed pleased with the deal. “Sapiens’ past support of our IT needs gives us great confidence to move our legacy systems into a new open architecture to better serve independent agents and policyholders,” stated Mike Natan, CIO of OneBeacon. “The policy administration solution will quickly provide us with real business advantages in an increasingly demanding and cost-conscious marketplace, he continued.
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