Insurance software solutions provider Sapiens International Corporation has teamed up with re/insurer Munich Re to offer technology-led consultancy and solutions to insurers to enable them to better serve the SME commercial market in the UK. Once the partnership is up and running, it will be expanded to the Nordics and South Africa.

Sapiens and Munich Re said the SME commercial sector was the fastest growing in the UK and pointed to the fact there had been more than 200,000 new businesses formed in the UK in the year to date, according to filings at Companies House. The partnership was formed to help insurers create more targeted offerings to serve this expanding sector.

Gunther Rempel, spokesman for Munich Re’s global consulting business advisory, said: “Together with Sapiens, Munich Re’s global consulting business department will support insurers’ efforts to implement and grow through the provision of expertise, assistance with product development across multiple lines of business and, where appropriate, reinsurance capacity.”

Roni Al-Dor, Sapiens president and CEO, added: “We are empowering insurers to contribute to the post-COVID economic recovery by supporting SMEs. Sapiens solutions enable insurers to offer and distribute the right products to the right customers, enable self-selection and recommend coverage based on similar business selections. We are very proud to partner with Munich Re starting this journey.”

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