OPES receives a comprehensive solution from Sapiens IDITSuite for Property & Casualty and Sapiens Intelligence for growing its business.
The first digital insurer in Vietnam, OPES Insurance Company (OPES), announced today that it has selected Sapiens IDITSuite to modernize its core insurance business. Sapiens International Corporation is a prominent global provider of software solutions for the insurance industry.
Sapiens was chosen because of its solid product setup, digital API capabilities, and track record of enabling insurers to undergo digital transformations. Another key reason for choosing Sapiens IDITSuite was its powerful approval status-tracking features, which completely eliminated audit risks. The Azure cloud will host the deployment of the Sapiens cloud-based solution.
According to Tung Dang, CEO of OPES Insurance, “Sapiens has been the perfect partner to help us achieve the modernization goals we have set for ourselves. We are excited to enhance our capacity to scale quickly and affordably to provide new products and services to our consumers. I feel Sapiens offers the best such solution. We required a cloud-based end-to-end solution to automate operations and digitize manual and paper-based procedures.”
The market-leading Sapiens Intelligence data and analytics module, which combines the insurer’s data to give actionable insights, serves as the foundation for the OPES deployment. It enhances underwriting risk selection and lowers claims expense ratios.
The president and CEO of Sapiens, Roni Al-Dor, said, “It is really satisfying to collaborate with a forward-thinking insurer like OPES, and we look forward to helping them move towards a cloud-native architecture landscape. Vietnam is also a completely new and fascinating market for Sapiens to penetrate, and we fully comply with all local regulatory standards.”
Sapiens IDITSuite is an end-to-end, cloud-based modular insurance platform that is digitally led and award-winning. It supports both personal and business lines of business from acquisition to billing, claim, and renewal.