Sapiens International (Cary, N.C.) has acquired Harcase Software (Mississauga, Ontario), a provider of software solutions to the property/casualty insurance industry. Sapiens characterizes the acquisition as representative of its strategy to establish a stronger footprint in North America. Harcase, is the vendor of RapidSure suite, a policy administration solution that supports commercial, personal and specialty lines. Harcase was founded in 2003 and merged with its sales and implementation partner, software and services provider Octello (Mississauga), earlier this year.
"This acquisition is a good marriage of Sapiens' longtime presence in the US market and the thoroughly modern RapidSure solution." comments Chad Hersh, principal of analyst and research firm Novarica (New York). "As a fully modern solution with robust functionality, support for open standards, and a service oriented approach, RapidSure should help provide numerous benefits to carriers, including improved speed-to-market and lower total cost of ownership."
According to a Harcase source, RapidSure is built on rules-based component technology service-oriented architecture enables rapid product deployment and market agility. The solution incorporates Web 2.0 capabilities, Java, Web portals and Web services and has been deployed at several P&C insurers, according to the vendor. A Sapiens press release asserts that RapidSure allows carriers to progressively remodel their IT Enterprise Architecture. The suite includes a comprehensive policy administration system with an innovative product configuration system that enables quick time to market for new products, and a point-of-sale portal to support multiple distribution channels and collaboration, according to Sapiens.
"We are very pleased to welcome the Harcase team that joins Sapiens today," said Roni Al-dor, CEO of Sapiens. "This is an important acquisition for Sapiens. This transaction is aligned with our long-term strategy in the Insurance market to make Sapiens a household name and the vendor of choice among insurance carriers. We expect Harcase to provide us with the platform to strengthen our position in North America and in the property and casualty segment globally, and contribute to our revenue growth."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio