READING, UK. – November 9, 2020 – Pegasystems Inc. (NASDAQ: PEGA), the software company empowering digital transformation at the world’s leading enterprises, today announced Tokio Marine Kiln (TMK), a forward-thinking international underwriting business, has selected Pega Platform™ using Pega Cloud™ to help cut costs, consolidate siloed processes, and achieve significant operational improvements.
Headquartered in London, with additional operations in Asia and the United States, TMK is part of one of the world’s largest insurance groups, Tokio Marine. Each year, Tokio Marine Kiln underwrites $2 billion of business in areas including: property and casualty, marine, aviation, special risks, and reinsurance. The specialist insurance processes are complex, and in addition to its core policy system, TMK needs to rely on many other systems and manual efforts through the underwriting journey. TMK sought a solution to digitize and consolidate these processes to help drive operational efficiency in its increasingly competitive market.
TMK selected Pega Platform 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. By centralizing 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. Pega delivered a working prototype that achieved all of TMK’s objectives in just four days, and will work alongside Pega Platinum partner Coforge to deliver the project.