Sapiens International:Digital Suite Transformative for Insurers
Facing increasingly demanding consumers and regulatory disruption, insurers must embrace digital modernization to provide a unique experience, while driving efficiency and growth. A comprehensive digital transformation solution can offer advanced analytics, a consumer and agent portal, and a customer engagement platform. Headquartered in Israel, with Indian offices in Bangalore and Mumbai, Sapiens International Corporation (NASDAQ and TASE: SPNS) is equipping the insurance industry with powerful policy administration systems, a full digital suite and innovative business services. Technology to Support Your Transformation
Insurance has historically been a low-touch industry. Lacking frequent contact with consumers, carriers have been largely unable to maximize cross- and up-sell opportunities. Sapiens' business intelligence solution, portal solution, personalized video capabilities and customer engagement platform will enable insurers to transition from mostly passive entities to engaged organizations with increased sales opportunities and defined brands.
Sapiens' dynamic workforce in India also helps insurers lower costs and offers flexibility
Insurers can dip their toes in digital waters by using a single digital component to solve a specific business problem, but the true goal is an all-encompassing digital approach that features integrated components functioning at their highest levels. Best of breed is a potential strategy for
insurance carriers with an abundance of resources, but it is often time-consuming and expensive. The answer is a digital suite that is pre-integrated with core policy administration systems (PAS).
Sapiens' two powerful PAS – Sapiens ALIS for the life, pension, annuity and medical segments; and Sapiens IDIT for the property and casualty (P&C) market – pre-integrate with our digital suite and this synergy empowers insurers to navigate seemingly endless streams of data. The integration between our advanced analytics solution and our PAS is critical for managing data, quickly processing it and then drawing conclusions and insights. Insurers will be able to unlock their silos of information and synchronize disparate data-points, resulting in data-driven decision-making that will provide tangible business benefits.
Lower Costs and Flexibility
Insurers want to benefit from digital without paying more, which isn't a problem, due to the nature of going digital. Direct, manual interactions with consumers raise costs, from brokerage to operations fees. Increased automation will significantly lower those costs and selecting Sapiens' cloud proposition will enable companies to pay according to actual usage levels and business volumes.
Sapiens' dynamic workforce in India also helps insurers lower costs and offers flexibility, because it allows Sapiens to execute deployments in the shortest time possible. By acquiring IBEXI, an India-based provider of insurance business and technology solutions, Sapiens strengthened its presence in Asia-Pacific and enriched its product portfolio.
"The IBEXI acquisition resulted in enhanced delivery capabilities throughout the APAC region and globally," said Yaffa Cohen-Ifrah, chief marketing officer and head of corporate communications, Sapiens.
Sapiens also recently acquired StoneRiver, a U.S.-based insurance software solution provider. This move added illustration, electronic application (eApp) and underwriting capabilities to Sapiens' life portfolio. In addition to investing in its innovative technology and workforce, Sapiens continues to prepare for the future. The company is concentrating on emerging trends, such as robo-advice, the Internet of Things and machine learning.
Sapiens' two powerful PAS – Sapiens ALIS for the life, pension, annuity and medical segments; and Sapiens IDIT for the property and casualty (P&C) market – pre-integrate with our digital suite and this synergy empowers insurers to navigate seemingly endless streams of data. The integration between our advanced analytics solution and our PAS is critical for managing data, quickly processing it and then drawing conclusions and insights. Insurers will be able to unlock their silos of information and synchronize disparate data-points, resulting in data-driven decision-making that will provide tangible business benefits.
Lower Costs and Flexibility
Insurers want to benefit from digital without paying more, which isn't a problem, due to the nature of going digital. Direct, manual interactions with consumers raise costs, from brokerage to operations fees. Increased automation will significantly lower those costs and selecting Sapiens' cloud proposition will enable companies to pay according to actual usage levels and business volumes.
Sapiens' dynamic workforce in India also helps insurers lower costs and offers flexibility, because it allows Sapiens to execute deployments in the shortest time possible. By acquiring IBEXI, an India-based provider of insurance business and technology solutions, Sapiens strengthened its presence in Asia-Pacific and enriched its product portfolio.
"The IBEXI acquisition resulted in enhanced delivery capabilities throughout the APAC region and globally," said Yaffa Cohen-Ifrah, chief marketing officer and head of corporate communications, Sapiens.
Sapiens also recently acquired StoneRiver, a U.S.-based insurance software solution provider. This move added illustration, electronic application (eApp) and underwriting capabilities to Sapiens' life portfolio. In addition to investing in its innovative technology and workforce, Sapiens continues to prepare for the future. The company is concentrating on emerging trends, such as robo-advice, the Internet of Things and machine learning.
