Partners
Outstanding Ecosystem
As part of our constant quest to offer more to our customers, Sapiens is proud to partner with innovative companies that help us expand and refine our offerings, scale up to meet even the largest and most daunting implementation challenges, and enter new markets and locales.
- Industry challenge
- The Solution
- Business benefits
- Hear from Our Partners
Today’s insurance industry is facing rapid change and heightened customer expectations. This is in addition to the “cost-conscious” customer, who frequently switches carriers. Now more than ever, insurance leaders are seeking transformation, innovation, and reduced expenses.
Sapiens, in partnership with Microsoft, is an extensive technology and go-to-market strategic partnership enabling intelligent insurance and empowering more personalized and enhanced experiences. Learn more about the partnership between Microsoft and Sapiens IDITSuite for P&C.
- Microsoft Azure is our cloud provider for Sapiens Cloud
- Sapiens & Microsoft – integrated across Microsoft’s portfolio, including Azure, Microsoft 365, Power BI. Roadmap: Dynamics 365
- Sapiens’ solutions are surfacing in the Azure Marketplace
- Sapiens is working closely together with MS product teams
- Industry challenge
- The solution
- Business benefits
Addresscloud is solving the problem of inaccurate and insufficient geospatial data in the insurance industry. Traditional address data often lacks the precision and insight needed for effective risk assessment, underwriting and exposure management. Addresscloud provides detailed, accurate location intelligence by combining high-quality geospatial datasets with advanced cloud based technology.
This allows for precise address matching, risk evaluation, and detailed mapping, which is crucial for insurance pricing, underwriting and portfolio management. By enhancing the accuracy of address data, addresscloud helps Insurers and MGAs improve operational efficiency, make better-informed decisions, ultimately leading to better risk management and more profitable underwriting.
Addresscloud is a multi-award-winning location intelligence platform serving the global insurance market. We provide leading insurers, MGAs and coverholders with APIs and applications to make better underwriting decisions. Addresscloud’s platform provides real-time data integration and APIs that allow seamless incorporation of their geospatial data into clients’ existing systems
From capturing an accurate address to pre-filling quotation forms, understanding peril and climate risk and avoiding expensive accumulation issues, Addresscloud has you covered.
- Accurate Geocoding: Ensure precise location data for every insured property, minimising errors in risk assessment and claims processing
- Comprehensive Property Data: Access detailed information about insured properties, including proximity to hazards and other relevant factors, aiding in thorough risk evaluation
- Peril Scores: Utilise scoring systems to assess the likelihood and severity of various perils, such as Flood, Wind Fire and Subsidence, enabling better-informed underwriting decisions and pricing strategies
- Accumulation Management: Manage exposure accumulation across portfolios by analysing geographic concentrations of risk, mitigating potential losses, and optimising risk distribution strategies
- Industry challenge
- The solution
- Business benefits
Insurers face increasing pressure to control and optimise their profit margins (direct insurers, price comparison websites, low interest rates). Pricing sophistication has become a key differentiator, but pricing processes remain long, manual and iterative. While AI could significantly improve this process, standard machine learning algorithms generate models that cannot be put in production because of regulatory constraints and risk of adverse selection. Akur8 is the only technology on the market that reconciles machine learning and actuarial science to automate the generation of transparent, production-ready GAM/GLMs.
Akur8 leverages the power of Machine Learning & predictive analytics to inject game-changing speed and accuracy to insurers’ pricing process. The solution supports pricing experts at every step of the pricing process, generating significant efficiency. From data processing and visualisation to exporting final models, Akur8 provides a comprehensive modular approach to pricing built around three main modules:
1. Risk – to build technical models and pure premiums
2. Demand – to build behavioural conversion and retention models and measure price elasticity
3. Rate – to iterate on rate plans (commercial premiums) and run portfolio analyses
- Speed – Make your pricing process 10x faster
- Performance: Improve the predictive power of your models
- Transparency: Ensure full compliance with local regulation
- Industry challenge
- The solution
- Business benefits
One of the greatest challenges facing organisations is working to embed regulatory compliance within insurance supply chains. This is a highly complex environment that can absorb teams as they wade through repetitive and time-consuming tasks. While a significant resource burden, failure threatens cost, efficiency and reputational impacts.
The joint Sapiens and Albany Group solution brings the ability to channel complex workflows and supplier management into a single, simple to implement and easy to use platform. Suppliers include third party admin (TPA), claims adjusters and experts, lawyers, underwriting brokers and even IT contractors. They also include contractors such as plumbers, builders, car mechanics and repair shops. Conect™ automates, streamlines and makes sense of supply chain complexity — to embed oversight, confidence and compliance. Integration of Conect™ with Sapiens core systems provides end-to-end performance, regulatory and operational control of supply chains, so that third party providers access to the insurer systems is according to their status in the Albany Group system. Code-free, Conect™ is rapidly deployable, customisable and scalable within departments, throughout companies and across markets.
- CONTROL – Risk intelligence technology that puts you in control — to save time, reduce costs and automate regulatory compliance
- INSIGHT- Harness trusted data, cross-sector expertise and intelligent analysis for complete oversight, performance management and audit of your supply chain
- SIMPLICITY – Code-free configuration and intuitive screens ensure that Conect™ simplifies the most complex processes
- Industry challenge
- The solution
- Business benefits
- Hear from our partners
The likelihood of potential customers qualify or lapse at the online application stage is difficult for life insurers to predict. If insurers improve their placement ratio it would have a significant impact on profitability and internal resources. Using AI, machine learning and analytics can provide potential policyholders with a better match based on “peers like you” and will improve insurers’ profitability and customer satisfaction. Atidot offers growth opportunity for life insurance – empowers insurers to evaluate opportunities in an existing portfolio or a book of business with big data and predictive analytics.
The joint solution provided by Sapiens and Atidot combines real-time AI, machine learning, and analytics capabilities with Sapiens ApplicationPro, a web-based insurance application software. The solution enables insurers to better predict their placement ratio, understand their customers profile, and recommend better policies based on ‘lookalike’ strategy. Companies can gain insights into their customer base and see the bottom-line impact of their product and marketing strategy. Atidot’s insights help you make smarter business decisions at just the right time.
- Improve top-line growth by up to 30%
- Gain up to 4x increase in your book of business value
- Improve predictability by 15X and increase lifetime value
- Industry challenge
- The solution
- Business benefits
Lengthy, inefficient, non-standardized processes that result in a limited user experience and very high management costs. test
Bdeo develops Visual Intelligence, a specific type of Artificial Intelligence. It helps streamline the underwriting and claims management processes for motor and home insurance companies, as well as fleet management companies, reducing underwriting and claims handling times from weeks to minutes. We do it by enabling an AI-powered inspection where evidence is collected via photo/video, damaged parts and severity are detected immediately and recommendations of next steps are offered to the insurer based on their rules.This helps them increase satisfaction among new customers, who are expecting a digital, fluid experience, and reduce management costs. Bdeo’s goal is to transform the insurance and fleet management industries and the way they engage with their customers.
- Cost reduction
- Time reduction
- Streamlined processes
- Improved user experience
- Industry challenge
- The solution
- Business benefits
With more than 71% of the global deaths (according to WHO.org) caused by preventable disease, the Insurance industry wishes to move from being a claims payer to a lifetime wellbeing partner, helping people achieve and maintain better health and wellness levels, while better assessing risk and providing preventive, personalized services, at lower costs.
As a B2B company, Binah.ai provides the Insurance industry with an AI-powered, 100% software solution (SDK) they can easily integrate into their app or workflows to allow clients monitor health parameters, just by looking at the camera of a smartphone, tablet or laptop camera – anytime they need, anywhere they are, in only one minute. End-users are able to extract a wide range of health parameters such as blood pressure, heart rate, heart rate variability, oxygen saturation, respiration rate, mental stress, relaxing ability and more, and share this important health data with their insurers so they can better support their care, wellness and health improvement efforts.
- Enhance wellness programs success using members’ objective health data
- Streamline and empower underwriting and STP with remote, real-time health and wellness monitoring
- Better assess risk and increase prevention
- Lower operational costs (no need for wearables, less human time spent on health assessments)