Sapiens, OneBeacon Agreement Signed
NU Online News Service, July 15, 9:44 a.m. EST?Sapiens International Corporation N.V., a global information technology solutions provider, has announced a "multimillion dollar" agreement to implement a Web-enabled policy administration system with OneBeacon Insurance.
The company said the IT agreement would be for all lines of business across multiple states. An exact dollar figure for the deal was not provided.
According to Research Triangle Park, N.C.-based Sapiens, the solution, which is the largest ever Sapiens eMerge contract, is intended to provide easier access to information by using Web-based, personalized portals for independent agents and greatly improve internal efficiency by consolidating and integrating disparate IT systems.
The resulting open architecture system will allow OneBeacon to expand its market presence, enhance customer service and reduce costs by streamlining business processes, said Sapiens.
OneBeacon is a wholly owned subsidiary of White Mountains Insurance Group, Ltd. of Hamilton, Bermuda, whose principal executive offices are in White River Junction, Vt.
Sapiens said OneBeacon will also have increased functionality and will be able to respond more quickly to rate and product opportunities.
The new system will utilize IBM's WebSphere and Sapiens' eMerge rules-based technology, the company said.
"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," said Mike Natan, chief information officer of OneBeacon.
Sapiens offers solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change, the company noted.
OneBeacon offers a wide range of personal, commercial and specialty products and services, which are sold exclusively through select property-casualty independent agents.
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