To streamline its overseas reinsurance operations

Sompo Japan Insurance has completed its implementation of SICS, CSC’s integrated reinsurance software solution to manage reinsurance business of all types – assumed and ceded – for both property and casualty/general insurance and life insurance clients, according to finextra.

The new system reportedly enables Sompo Japan to streamline its overseas reinsurance operation by enhancing its system support structure, improving business productivity and data quality, and strengthening its operational control framework. These enhancements support the company’s goal to better access information and manage risk and, therefore, maximize profits, CSC said.

With more than 90 implementations worldwide, SICS supports the entire life cycle of reinsurance business with its single database and consolidated application environment. It offers comprehensive support for underwriting, claims handling, accounting, management/financial reporting and policy administration of direct/retrocession business.

Masato Fujikura, general manager of the Reinsurance Department of Sompo Japan, said: The success of this implementation can be attributed to the advantages of SICS, CSC’s high-quality packaged software, as well as to the strong relationship between our companies. We would like to express our appreciation to CSC’s project team and look forward to the team’s continued support.

Michael Strzepek, general manager of CSC’s operations in Japan, said: This project is the result of close collaboration between CSC’s local employees, our global reinsurance team and Sompo Japan, one of the market leaders in Japan. It represents the first SICS implementation in Japan and expands CSC’s presence in the region. We will continue to support the business expansion of Sompo Japan through continued effective integration and use of local and global capabilities.