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Sapiens pushes SaaS and AI to modernize reinsurance core systems
Sapiens said it plans quarterly software updates as it moves reinsurance clients from manual, document-heavy workflows to more automated processes.
The reinsurance industry has historically depended on legacy spreadsheets and manual administration, but Sapiens says cloud-native Software as a Service and artificial intelligence are now becoming central to modernising core reinsurance systems, according to Reinsurance News.
Sapiens, which provides software for insurance and reinsurance, said it is entering a new growth phase after its acquisition by Advent in 2025 and an ADIA investment earlier this year. The company also outlined a leadership transition for its reinsurance business, naming Yaron Lavie as SVP Head of Products, with Paul Wheeler moving from Chief Financial Officer to Chief Executive Officer, succeeding Mike Ettling, who will remain Executive Chairman of the Board.
Sapiens said its approach is to avoid building a separately customised platform for each reinsurance company, instead offering a centralised, standardised product that clients can adapt as regulations and reporting requirements change. The company described the migration to SaaS as a step-by-step process, moving clients one by one to a standardised product.
The company added that it now rolls out software updates quarterly, contrasting with traditional implementations that could take months. Sapiens said AI will help automate workflows that are typically manual and paper based, with Lavie saying the goal is to merge decades of domain specialization with a continuously updated SaaS offering.