Tokio Marine Kiln seeks to cut costs and improve operational efficiency with Pega
Specialist insurer Tokio Marine Kiln (TMK) has partnered with Pega Platform to digitise and consolidate its underwriting process to help drive operational efficiency in its increasingly competitive markets.
By centralising the processes on Pega, TMK expects to reduce expenses, enhance its ability to respond to changing market conditions, and provide more efficient mechanisms for meeting compliance obligations.
Headquartered in London, with additional operations in Asia and the US, TMK underwrites $2 billion of business in areas including property and casualty, marine, aviation, special risks, and reinsurance.
TMK said it selected Pega for its intelligent automation needs to deliver a single, digital, unified platform that will sit above its existing systems and manage its entire underwriting process from end-to-end.
"We chose Pega because of its pedigree and the success other parts of the wider Tokio Marine group has had with its products," said Darren Sharp, group head of IT at Tokio Marine Kiln. "We know that Pega is capable of providing all the capabilities that TMK needs to create an efficient and cost-effective operating model, and I'm pleased to say that we are now full steam ahead on a phased delivery model."
Sharp added: "The ability to utilize Pega Cloud has also allowed us to get going far more quickly than if we had taken a traditional on-premise approach, supporting our technology strategy by giving us the scalability and flexibility that is vital for an organization like ours to thrive in our increasingly competitive market. Information Security is incredibly important too, and Pega Cloud provides us with complete confidence in that space."
Kieran Tarrant, vice president and managing director UK & Ireland, Pegasystems, said: "There's never been a more important time to ensure your business is running efficiently and effectively. This project builds on the existing relationship we have with the Tokio Marine group, and we're excited to work closely with them to help achieve their objectives throughout this project."
