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.
- 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
The insurance industry needs to quickly assess risk factors and to price efficiently, without either over- or under-valuing each policy. This move toward personalization requires verified location-based information.
Loqate address verification solutions are integral to various aspects of insurance operations, including risk assessment, fraud prevention, regulatory compliance, customer service, and data analytics. We offer a faster, easier way to capture addresses in real-time in any single-line address field or online form. In as few as three keystrokes, our technology will suggest complete and precise locations anywhere in the world – even when your customer makes a mistake.
- Loqate solutions combine the richest globally curated data from multiple postal, geospatial and local sources with a sophisticated matching and verification engine, ensuring the most accurate address data
- A single source of truth for customer data, makes transferring money, opening accounts, and sending and receiving necessary documentation seamless
- AI is only as good as the data input
- Global Address Verification with AI Parsing
- Standardisation across all systems, consistency + trust for your MDM
- Industry challenge
- The solution
- Business benefits
Almost all insurers are exposed to currency risk, from overseas premiums, auxiliary revenues, cross currency claim payments, or a mismatch in currency flows. Many struggle to implement the necessary steps and strategy to correctly manage this unwanted risk, with insurers exposed to potential profit erosion and huge fluctuations in cash flows as a result of inadequate FX policy considerations.
As a specialist in international payments and currency risk management, Lumon has been delivering bespoke hedging and execution services for over 20 years. We’ll work closely with you to develop, execute, and maintain a tailored strategy that complements your operational model and business goals. Our risk management strategies are designed to limit the impact of currency volatility on overseas exposures and significantly reduce execution and payment costs.
- Cost Savings – we deliver wholesale execution pricing through our syndicate of tier 1 liquidity providers and £9.2b in annual FX turnover
- Uncollateralised Credit – we offer clean credit and hedging facilities extending up to three years out with no upfront collateral or cash required
- FX Policy Creation – working closely with some of the largest insurers, Lumon specialises in delivering bespoke FX policies that ensure a systematic and data driven approach to optimise your FX risk management
- Data & Analytics – we extend real-time forecasting and probability data sourced from over 50+ global banks, providing an impartial and precise view of market sentiment that’s customised to your specific requirements
- Integrated Trading Platform – our platform enables self-serve spot and forward along with full reporting functionally, drawdown facilities and risk management tools for a true all-in-one currency experience
- Industry challenge
- The solution
- Business benefits
- Hear from our partners
Millions of documents, in a myriad of formats, and to be retained for decades. The challenging reality for insurance companies anywhere.
Paper documents, PDFs, Emails, Word™ documents, Excel™ sheets, photos, videos, sound recordings, portal uploads, text messages, chat dialogs, and XML files – you name it.
You don’t want to mess up your core systems, but you still need the info. And you need to keep it safe and secure.
Next® Enterprise archive, lets you access all the relevant documents directly from the account, the policy, and the claim record in IDITSuite, other SAPIENS solutions, and your customer portal.
Next® automatically captures all your documents. Performs OCR. Classifies and index documents. Creates futureproof versions in PDF/A. And manages permissions. For decades.
Next® is a unified enterprise archive for all your documents. On premise or on the cloud.
- Improved customer service
- Reduced operational costs
- Faster response to customer needs
- Faster implementation of new and updated systems
- Easier retirement of old systems
- Easier compliance with GDPR and other regulations
- Industry challenge
- The solution
- Business benefits
Most insurers today have a highly manual claims process which leads to substantial process costs, lengthy response times and disgruntled customers.
Customer expectations regarding communication are moving in a direction that requires digitization inside of the insurance companies.
The joint Sapiens and omni:us solution allows insurers either to automate the claims handling process or to suggest “Next Best Actions” to the claim’s processor.
Cognitive and deep data extraction of all incoming documents (structured, unstructured, continuous text, handwriting, etc.) is interpreted and translated into fully contextualized claims scenarios which prepares the ground for an AI-based decision framework for automation and decision support. Our solution minimizes the manual data processing and forms a basis for straight-through processing at scale.
- Process complexity reduction
- Claims decision support for claims adjuster
- Real-time claims status & updates
- Personalized claims experience
- Fast & transparent settlement
- Industry challenge
- The solution
- Business benefits
- Hear from our partners
To provide carriers a digital payment network allowing their consumers a fast, frictionless, and secure payment experience.
With One Inc’s proven PremiumPay® and ClaimsPay® digital payment networks, we provide insurers with the comprehensive insurance payments experience that customers require – fast, flexible, and future-focused.
- Customer Experience-Connect and engage policyholders through an exceptional, expedient, and seamless payment experience
- Digital Engagement-Proactively engage policyholders throughout the premium and claim payments experience
- Reporting and reconciliation-Reconcile accounts, instantly find discrepancies, analyze and report payment activity
- Security & Compliance-Remove sensitive payment data from your network and simplify your compliance burden
- Industry challenge
- The solution
- Business benefits
Opterrix is a powerful risk intelligence platform that enables insurance carriers to proactively identify, quantify and mitigate avoidable losses. Designed by insurers for insurers, Opterrix leverages the latest advancements in meteorology, data science, AI, and cloud computing to help insurers make better decisions faster and implement proactive strategies throughout the insurance value chain. Insights are available via our single sign-on web application and API access.
Underwriting: Opterrix is a single source of knowledge that helps carriers measure and manage property-level accumulation and aggregate limits, real-time moratorium declaration and monitoring, and post-event claims management.
Claims: Opterrix monitors complex portfolios in real-time, provides advanced notifications of upcoming weather events, generates claims predictions before FNOL, and offers unparalleled street-level analysis for optimized claims workflows.
Customer Engagement: Opterrix enables insurance carriers to deliver real-time notifications that protect, inform, and interact with policyholders when and where risk mitigation is top-of-mind.
- Prevent binding of high-risk policies and reshape costly accumulations in real-time
- Create a holistic view of loss activity
- Reduce claims cycle times and loss adjustment expenses
- Improve combined and operating ratios
- Increase customer satisfaction and retention
- Industry challenge
- The solution
- Business benefits
Need for a faster, efficient, and modern connected way to provide payments to claimants.
With Optum Financial you have access to one of the largest multi-payer networks and the latest in payments technology. With our payment delivery solution, you can lower operational costs, improve customer interactions, and meet the demand for fast, efficient and secure B2B and B2C claims payments.
- Optimize payment processes — Drive electronic payment adoption and increase revenue
- Lower administrative costs — Eliminate check printing and mailing costs and reduce treasury and administrative expenses
- Prevent payment fraud — Our solution has the latest fraud avoidance technology combined with 24/7 monitoring by fraud protection experts
- Increase payee satisfaction — Offer flexible payment options, including ACH, virtual cards and checks
- Industry challenge
- The solution
- Hear from Our Partners
- Business benefits
When Policyholders can be tempted to switch and save, delighting and retaining customers is key. Today’s modern carriers must deliver a comprehensive billing, payments, and claims disbursements experience to increase customer satisfaction and improve operations.
With more payment methods and channels than any other provider and as the #1 best-in-class rated EBPP provider, Paymentus delivers the modern solutions insurers need and policyholders require.
Improved Customer Experience: Policyholders can pay exactly how they want with instant access to a robust suite of payment options and have access to faster digital claims payouts proven to increase Net Promoter Scores (NPS).
Comprehensive Real-Time Reporting: Staff can access a single, dashboard view of payment data to quickly serve customers, efficiently resolve inquiries and improve reconciliation and business operations
- Industry challenge
- The solution
- Business benefits
Insurers often to struggle to adjust their pricing with any real pace, taking weeks or months to build pricing models only to then have to transform these models down into rating structures that are manually deployed, thus losing accuracy and efficiency in the process. Insurers are facing an ever increasing competitive environment, it is essential they can rapidly build and deploy new pricing in order to stay ahead of the market
Quantee help insurers, MGAs and InsurTechs to improve the granularity and accuracy of pricing models, deliver more targeted results, enable instant deployment and monitoring in real-time.
Quantee provides an end-2-end dynamic pricing & modelling platform which allows Insurers and MGAs to efficiently manage the entire pricing process through one user interface. This gives the power back to the pricing teams, allowing them to perform inter-day price changes and build sophisticated pricing models that utilize the latest techniques and insights
- Ultimate efficiency through the pricing process with an end-2-end solution
- Complete flexibility to be able to build any type of pricing model easily
- Deploy rapidly to market with a pre-integrated pricing engine with API connectivity
- Industry challenge
- The solution
- Business benefits
The existing market solutions suffer from manual inspection processes, long review times, and additional blocks to productivity. These problems cause delays while frustrating claims processors, repair shops, and customers who rely on their cars.
From Underwriting, through FNOL, to settlements, Ravin AI greatly reduces friction. Our AI-powered assessment of damage combined with Ravin’s seamless video capture experience, produces greater insight, ensures that standards are met from the start, and helps repair shops source the required parts. Saving effort, speeding up claims, and getting people back on the road.
- Cut down claim cycle time to minutes. A customer is guided by the Ravin Inspect app to capture damages with a
mobile app. - Empower and create transparency between insurer, customer, and repair shop.
- Advanced AI ensures high quality, multi-angle capture and limits fraud.
- Repairers receive full visibility and participate in the quote using Ravin’s remote intelligent dashboard.
- Industry challenge
- The solution
- Business benefits
Motorcycles face a disproportionately high accident rate, with fatalities 30 times more likely than in cars. Unfortunately, safety technology for motorcycles lags behind that of cars, contributing to elevated insurance costs. Moreover, motorcycle fleets lack visibility into rider safety aspects, hindering their ability to take data-driven preventive measures or capture video footage in the event of accidents.
Rider Dome utilizes AI to deliver real-time alerts to riders, effectively mitigating critical threats on the road and reducing accidents. Additionally, our Fleet Monitoring Platform equips fleet managers with the real-time data necessary to monitor, track, and measure fleet safety.
- Improve motorcycle riders’ safety, leading to a reduction in accidents
- Generate significant savings for fleets by addressing both direct and indirect costs associated with motorcycle accidents
- Enable insurance companies to offer advanced solutions that mitigate rider risks and support data-driven insurance decisions
- Industry challenge
- The solution
- Business benefits
Insurance administration systems were not built to engage directly with a policyholder on his, often now mobile, device of choice, yet policyholders want a personalised experience with a consistent brand experience when and where they wish to engage.
Hence, on-boarding new customers and processing renewals, MTAs & payments processes are often cumbersome, expensive and inconvenient.
Cloud-hosted SDX Engage is already used across multiple policy lines by TIA administration users to seamlessly digitise customer engagements – automating full process flows between the administration system and the policyholder’s device of choice.
With our established APIs, Insurers and Brokers can very quickly on-board customers, exchange documents and receive customer payments or confirmations (by simple acknowledgement or multi-party eSignature) with a consistent brand experience.
- Simply automate customer engagements, including documents, customer confirmations, eSignatures and payments, throughout your on-boarding, MTA, claims, renewals and payment processes
- Digitise your product lines without any changes to your administration system
- All activities and data exchanged through any customer engagement workflow are automatically recorded in the customer’s vault and back into your administration system
- Improve your customer experience whilst reducing inbound and outbound call volumes.