Tokio Marine Kiln Selects Pega Platform to Improve Operational Efficiency

Rhea-AI Summary

Pegасystems (NASDAQ: PEGA) announced that Tokio Marine Kiln (TMK) has chosen the Pega Platform and Pega Cloud to enhance operational efficiency and reduce costs. TMK, an international underwriting business, seeks to consolidate its processes and improve its underwriting journey. The partnership aims to create a unified digital platform to streamline operations and enhance compliance. A working prototype was developed in just four days, demonstrating Pega's capabilities in automating TMK's complex processes, supporting faster deployment and improved scalability.

Positive

• Tokio Marine Kiln selected Pega Platform for its operational efficiency needs.
• Pega successfully delivered a prototype meeting TMK's objectives in four days.
• The collaboration aims to consolidate processes, reducing costs and enhancing compliance.

Negative

• None.

READING, England, Nov. 9, 2020 /PRNewswire/ -- 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.

Quotes & Commentary
"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."

Mr. Sharp continued: "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."

"There's never been a more important time to ensure your business is running efficiently and effectively," said Kieran Tarrant, vice president and managing director UK & Ireland, Pegasystems. "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."

About Pega
Pega is the leader in cloud software for customer engagement and operational excellence. The world's most recognized and successful brands rely on Pega's AI-powered software to optimize every customer interaction on any channel while ensuring their brand promises are kept. Pega's low-code application development platform allows enterprises to quickly build and evolve apps to meet their customer and employee needs and drive digital transformation on a global scale. For more than 35 years, Pega has enabled higher customer satisfaction, lower costs, and increased customer lifetime value. For more information on Pegasystems (NASDAQ: PEGA) visit www.pega.com.

Press Contact:
Jon Brigden
Pegasystems  
jon.brigden@pega.com
Twitter: @pega                              

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SOURCE Pegasystems Inc.