Partners

Proud to partner with innovative companies that expand and refine our offerings, scale up to meet even the largest and most daunting implementation challenges, and enter new markets

Outstanding Ecosystem

As part of our constant quest to offer more to our customers and grow, 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.

AI-Powered Insurance Fraud Detection software to automatically detect suspicious claims

  • P&C
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Industry challenge

Industry challenge

Today’s digital world is a fraudster paradise, yet an insurer nightmare. And with 18% of all claims said to contain elements of fraud, it is not a victimless crime. FRISS protects insurers by enabling safe digital transformation straight from their core systems to make insurance more honest, grow healthy portfolios and increase customer satisfaction. Because we believe insurance is a beautiful thing.

The solution

The solution

FRISS’s AI-Powered Insurance Fraud Detection software automatically detects suspicious claims in the Sapiens IDIT Suite. It can run network analysis and discover hidden patterns. It supports safe and automated processes, by leveraging transparent predictive models and text.

Business benefits

Business benefits

  • Direct bottom line savings
  • Real-time actionable claim insights
  • Enable frictionless customer experience
  • Instant value, reduce total cost of ownership

Offering CYBER insurance risk assessment within an underwriting process in existing policies

  • Life
  • P&C
  • WC
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Industry challenge

Industry challenge

Reinsurers face the challenge of identifying and financially quantifying cyber risk for a single business and accumulated exposures across their portfolios. Reinsurers lack access to the tools for calculating potential affirmative cyber exposures within cyber policies and silent cyber exposures within other P&C policies, leaving them exposed to unexpected cyber losses.

The solution

The solution

The joint Sapiens and Kovrr solution delivers transparent, real-time data- driven insights into affirmative and non-affirmative single, accumulated and catastrophic cyber risk exposures. The Kovrr platform is designed to help underwriters, exposure managers and catastrophe modelers better understand, quantify and manage cyber risk by utilizing AI-powered predictive risk models. Kovrr uses customer data from Sapiens and other sources and the underwriting insights can be integrated to the overall underwriting, according to the insurance product.

Business benefits

Business benefits

Improves analytical capability, helps lower loss ratio & enables profitable portfolio growth

  • Life
  • P&C
  • WC
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Industry challenge

Industry challenge

The risk and the exposure to new forms of fraud is increasing. The innovation and digitalisation disrupting the insurance industry creates new opportunities for carriers but also for fraudsters. Insurance fraud undermines the capital needed to pay genuine claims and is an additional tax on every policyholder.

The solution

The solution

Fighting fraud is Kube Partners’ primary mission. We work for the greater good, and with our anti-fraud platform Detector, we will reinforce this fight at a global level.

Developed with the contribution of experienced claims handlers, Detector is an advanced cloud-based software platform to provide end-to-end fraud detection and to empower experts to make the right decisions. Our customers have enjoyed a 400% improvement in the number of cases successfully investigated and a 300% improvement in fraud detection efficiency. With our fast implementation path, insurers can go live in as little as 4 to 6 weeks and the initial investment is fully repaid in just a few months with a 10X return on investment.

Business benefits

Business benefits

  • Accurate scoring, minimise false positives
  • Acceleration of the settlement process for genuine claims
  • Full automation: Detector claim scoring and investigation workflow ensures cost and productivity monitoring
  • Easy-to-use SaaS platform: intuitive, self-explanatory and simple-to-use and integrates with company’s system, Detector provides real-time proof of fraud
  • Multiple lines of business supported (motor, property, health, travel, general liability, personal accident, pets)

A best-in-class Claims Fraud Detection, the AI fraud-fighting solution for P&C insurers

  • Life
  • P&C
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Industry challenge

Industry challenge

Several industry reports estimate fraud to be around 10% of the entire insurance gross written premium for P&C. This represents total losses of more than $40 billion for P&C insurers in the US and more than $55 billion for P&C insurers in Europe. In addition, fraudsters are becoming more innovative, deploying complex fraud patterns. SIU teams find that rules-based solutions are less reliable and more labour-intensive when faced with novel fraud techniques.

The solution

The solution

Shift Claims Fraud Detection is an AI-native solution that lets investigators discover more fraud, faster, and throughout the entirety of the claims process. Our solution leverages the collective knowledge of over 200 data scientists and over 100 external data sources – including trusted fraud detection resources such as Lexis-Nexis and the NICB. G71By combining insurance-specific intelligence and data, Shift Technology creates a solution that lets investigators find and mitigate more fraud while encountering fewer false positives. This improves the customer experience and creates cost savings that P&C insurers can pass on to their policyholders.

Business benefits

Business benefits

  • Powerful AI solution grows hit rate by 3x
  • Reduce false positives to drive more efficient workflows
  • Identify both simple and sophisticated fraud techniques
  • Clear context for 60% faster resolutionShift Technology is enabling P&C insurers to see more, do more, and be more for their policyholders. Decisions shape the insurance industry. P&C insurers must make the correct decision, quickly, in every policyholder interaction, from underwriting to claims and beyond. Shift’s AI solutions effectively automate and optimize insurance decisions, liberating insurers to innovate and find new ways to be there for their customers.
  • More accurate decisions about fraud and misrepresentation at the point of underwriting and policy
    activation to reduce leakage
  • AI-native claims fraud detection that effectively identifies individual and network fraud schemes and
    provides contextual guidance for investigators
  • More efficient and accurate decisions at the point of claims first notice of loss (FNOL), including AI
    document intake and analysis, and verification of claims details
  • More efficient use of human expertise thanks to insurance-trained AI that can handle many routines and
    complex tasks
  • Support for compliance efforts including Know Your Customer (KYC) and Anti-Money Laundering (AML)
    initiatives
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