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.
Technology Partners
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.
- Industry challenge
- The solution
- Business benefits
Dozens of eMerge-based solutions are currently operated on IBM Z platforms. As eMerge has evolved through the years, most of the solution’s investment was exposed to external technologies adjusted that needed support of eMerge versions.
Together with eMerge IBM Z customers, Sapiens continues to enhance IBM Z platform capabilities. We are continuously improving our eMerge product to support the latest releases and functionality of IBM Z Systems customers to maintain their workload.
- Consistency The new back-office applications have a unified look and feel, with the reuse of web services across the various applications.
- Repository System All data from the applications are centralized in IBM Z. This can save unnecessary web services when an application needs data from a second application.
- Compliance with regulations The new application is regulations oriented.
Digital services No more paperwork, hand files and file cabinets, no duplicate data, no business errors, everything is validated by the application. - Accessibility The new eMerge applications on IBM Z are accessible for intern
- Industry challenge
- The Solution
- Business benefits
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
Ecosystem Partners
- 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)
- Industry challenge
- The solution
- Business benefits
Insurance companies frequently face significant challenges when managing high volumes of diverse documents streaming into the organization. These documents must be accurately classified into specific types, relevant data must be extracted and validated, and documents must be correctly routed to the appropriate activity centers within the organization for further processing. In many organizations, a substantial portion of this activity is still handled manually. We can automate and streamline all these tasks.
A robust document classification and Digital Mailroom (DMR) automated system is designed to automatically classify incoming documents based on any required hierarchy, content, or schemes on a case-by-case basis. The solution employs advanced document understanding technologies, including optical character recognition engines, optical mark recognition, and barcode recognition, to process structured, semi-structured, and unstructured forms in most common languages.
- Significant labor cost savings and a rapid return on investment
- Immediate enhancements in data accuracy, routing precision, and data capture speed
- Much faster response times to customer inquiries
- Automatic prioritization of urgent customer requests using natural language processing
- Over 20 years of technology leadership in OCR, AI, NLP, automated machine learning, and document understanding. Billions of insurance-related forms,
payments, invoices, personal KYC, and various other documents have been processed using FormStorm technologies
- Industry challenge
- The solution
- Business benefits
When it comes to customer communications management, building and managing document templates can be challenging, technical and expensive. Document templates are often built and maintained on syntax-based (mail merge) platforms by technical staff and the dependency on the IT team often results in slow turn-around times. Templates are not always managed and organized centrally which makes it difficult for an organization to have a clear view of their environment and follow a compliant document strategy.
DocFusion® enables you to turn regularly used documents and forms into intelligent templates for customer communications management
DocFusion’s drag-and-drop template designer makes template authoring easy and maintainable with drag-and-drop mapping, visual rule-building dialogues, offline template preview capabilities with test data, native connectors to multiple data sources, digital signature support and much more.
DocFusion also features an enterprise-grade central template repository with role-based access, version control and full auditing capability. Documents can be generated on-demand or in batch with the option to connect to our high availability and highly scalable cloud environment.
- Document composition, automation and governance
- Hyper personalized claims and policy correspondence
- Compliance and risk management
- Preservation of corporate identity
- Template libraries for re-usable content
- Pre-build connectors (data push or retrieve strategy)
- On-premise, cloud or hybrid
- Industry challenge
- The solution
- Business benefits
Manual document processing in Insurance. With all of the documents/emails/paperwork in the insurance industry, a lot of time is spent reviewing redundant information in search of the same key pieces of information that is just labeled and formatted differently each time.
Doxci is a simple tool that makes enterprise document processing as easy as a drag and drop.Doxci uses AI, NLP and RPA to automatically ingest documents, read them well enough to establish contextual reasoning, and complete the tasks associated with the contents. It can perform simple tasks like converting unstructured data to a structured format for compliance purposes, or more cognitive-intensive processes such as completely automating the submission of small and mid-sized commercial insurance lines. It’s basically 100,000 paperwork employees in 1.
- Converts messy unstructured data to a structured format
- Automates entire workflows so that it functions less like a tool and more like an employee
- Faster, cheaper, more accurate and more consistent than humans, freeing them up for higher value work
- Able to process everything from simple invoices to analyzing lengthy contracts (hundreds of pages) for contextual discrepancies
- Increased monthly revenue over 20% for one of our clients
- Industry challenge
- The solution
- Business benefits
Insurance companies try to sell the same product, at the same price, to customers who have unique needs, risk characteristics and price sensitivities. This commodity based selling, may cause the loss of customers who are willing to pay more for increased comprehensive coverage, as well as customers who cannot afford the product and are willing to give up some coverage to pay less.
The joint Earnix and Sapiens solutions uses Earnix for the quoting process on Sapiens’ system. It provides an end-to-end pricing and product personalization software suite, driven by world-class data science, analytical modeling tools, and integrated machine learning. The Earnix suite replaces fixed pricing tables with dynamic pricing API. With the dynamic pricing and product personalization solution, insurers ensure they are offering the right product, at the right price to the right person.
- Rapid personalization of both claims and policy correspondence reduce cycle times by utilizing previously generated templates
- Easy access to a central repository of templates, plus automated data and content prefill document templates, save agents time
- Built-in document preview capability during authoring facilitates a quick turn-around from edit to production
- Industry challenge
- The solution
- Business benefits
Insurers need to find services that help them prevent damages from occurring and at the same time to become more relevant to their customers
F-Secure provides insurers with a solution to protect and advise their private and small business customers including separate Cyber app (partner branding possible) and also via SDK’s and API’s
- Become more relevant
By including digital security elements protecting your customers’ and their families’ digital moments online and increasing the touchpoints to your customers - Differentiate
Drive sales growth by including complete digital security in your offering to protect your customers’ every digital moment, their identities and their devices - Increase loyalty
Enhance your customers’ experience with engaging services they’ll use not just when there’s a claim, but in their everyday lives and become more relevant to your customer - Reduce insurance claims
With F-Secure award-winning solutions which will prevent majority of threats from happening and clearly decreasing claims and contacts
- Industry challenge
- The solution
- Business benefits
As the insurance industry continues shifting online and carriers adopt instant decisioning, there is a lack of real-time data available to help carriers make instant decisions with confidence and accuracy. There is a need for more data, in real-time, that helps carriers understand the intent of their digital users so they can drive desired outcomes
ForMotiv’s behavioral data science platform runs real-time machine learning models on tens of thousands of digital behavioral data points captured during the digital application process to instantly and accurately predict the intent of the end-user. ForMotiv identifies high-risk users, potential cases of fraud / non-disclosure, window shoppers, high intent buyers, frustrated/confused users and more during the application process, meaning carriers can take action during the user journey to drive a desired outcome. ForMotiv has a suite of products including Data, Analytics/Reporting, Behavioral Signaling, and Real-Time Models
- Identify bottlenecks, dropoff points, high abandonment questions/fields and more to improve the user journey
- Reduce risk exposure without decreasing conversions
- Create smarter Accelerated Underwriting & reduce 3rd party data costs – instantly determine who should be accelerated and who should be further qualified via medical review/fluid test
- After a simple integration, behavioral data can be leveraged across the enterprise and incorporated into existing predictive models
- Industry challenge
- The solution
- Business benefits
- Hear from our partners
Because speed and convenience have altogether redefined what it means to serve consumers, it is time to start building the relationships your customers demand and deserve. However, you cannot simply accept all policy requests or pay out each and every claim. At least not right away. You have to do your research and you have to do it instantaneously. What would your processes look like if you could instantly trust your customers?
Knowing when to trust keeps you in control of your processes – automating as much as possible, while engaging staff in case a further assessment is required. In claims processes, FRISS’s Trust Automation Platform automatically notifies your adjusters which claims to trust and which ones require a deeper expert review to scout for fraud. This improves the experience for the sincere customer, while at the same time fraud risks are identified. This all happens in real-time within IDITSuite using a combination of real-time internal and external data, powerful AI models, network analytics, expert knowledge, text mining, and more.
- Direct bottom line savings
- Real-time claims segmentation enables a frictionless customer experience
- Actionable claim insights
- Instant value, reducing the total cost of ownership
- Industry challenge
- The solution
- Business benefits
Glia allows companies to forge and maintain deeper relationships with their customers by providing real-time online “face-to-face” access to account managers, advisors, and agents. With 2-way video communication, your customers can put a face to a name – building greater customer satisfaction and loyalty in the process.
Glia enables companies to acquire more leads and increase online conversions. Companies are able to identify high-value website visitors, react to inbound communication requests, or proactively reach out via live chat, video, or audio. With our powerful Observation and Co-Browsing features, companies can arm their agents with visual context and offer personalized browsing to better aid customers. Intelligently Target Customers – Leverage business logic to reach out to customers who are ready to buy using Overseer, Glia’s proprietary business logic engine. Glia enables companies to better support their customers by injecting more context into the conversation. Through live observation and CoBrowsing, agents are able to see the issues customers are dealing with in real-time – allowing them to provide more personalized service and efficient resolution.
- Provide Superior Support with Digital Customer Service
- Increase Sales with Digital Customer Service
- Leverage co-browse to resolve issues faster
- Industry challenge
- The solution
- Business benefits
Car insurance companies are facing high competition and low margins. To reduce claim losses, insurers must promote safe driving. They also need a better way to price risk, to retain safe drivers and charge higher premiums for ‘risky’ drivers. Usage based insurance is one possible strategy to reduce costs. However, being able to accurately predict the level of risk per driver, provides an additional layer of information for the insurer to set premiums better.
The joint Sapiens and GreenRoad solution enables automotive insurance carriers to secure a new level of risk assessment data about their drivers on a dynamic basis, making it possible for them to provide more competitive, personalized driver insurance premiums, customer-centric services and proactive risk-prevention programs.
- Rapid personalization of both claims and policy correspondence reduce cycle times by utilizing previously generated templates
- Easy access to a central repository of templates, plus automated data and content prefill document templates, save agents time
- Built-in document preview capability during authoring facilitates a quick turn-around from edit to production
- Industry challenge
- The solution
- Business benefits
Insurance customers largely aren’t engaged with their providers. Meanwhile, increasing competition threatens retention. Insurers need to communicate with customers in a way that won’t be ignored but is also scalable and easy to implement.
Idomoo’s Personalized Video platform lets you build and launch campaigns fast, whether you need 500 videos or 5 million. With real-time rendering, interactivity and cinematic quality, it’s the superior CX your customers deserve. Personalized Video combines the impact of video with the relevance of personalization to create an effective communications medium. It’s proven to increase sales by as much as 8x and cut churn by 37%, all while adding a human touch to the insurer-customer relationship. From acquisition to onboarding to loyalty and more, launch campaigns and get results fast. Modern consumers expect personalized experiences. Why should video be any different?
- Increase retention by reaching out personally and visually at key moments in the customer journey, such as
before a policy renewal - Reduce call center volume with videos that answer questions clearly and personally before your customer picks
up the phone - Put your data to work with personalized offers that drive ROI, and add interactivity to your video to further
boost conversions - Increase customer satisfaction from the start with personalized onboarding videos that increase brand loyalty
long-term - Idomoo’s open platform, which easily scales to millions of videos, saves you time with built-in automation
tools and customizable templates.
- Industry challenge
- The solution
- Business benefits
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 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.
- Industry challenge
- The solution
- Business benefits
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.
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.
- 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)
- Industry challenge
- The solution
- Business benefits
Consumers expect instant experiences anywhere and everywhere but especially on their mobile phones. Sales processes that involve paper forms slow down sales and renewals cycles causing potential customers to drop out and turn to more digital-savvy competitors. Slow claim cycle-times also inflate claims costs, cause customer frustration and churn. You need to deliver the instant digital experiences consumers expect or risk losing business to the competition
The joint Sapiens and Lightico solution enables insurers to complete entire customer-facing processes in real time by streamlining, digitizing and automating interactions. With Lightico, businesses can instantly collect customer documents, eSignatures, eForms, payments and consent to disclosures, plus confirm policy terms and verify ID, even on their mobile phones
- Decrease the time and costs associated with the claims process
- Increase the speed of payment on overdue accounts
- Decrease inbound call volumes
- Improve the overall customer experience
- Offer choice and Opt-In and preference management
- Be up and running and see significant results within 90 days
- 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 IDIT, 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
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
A perfect storm of increased costs, medical inflation, post-COVID backlogs, chronic diseases, an ageing population, and increased demand means healthcare insurers can no longer keep up with paperwork, jeopardizing their profit margins. Streamlining claims processes and reducing costs is on top of their agenda to remain competitive, yet is challenging to execute due to the complexity of medical claims data requiring a specialized approach, non-scalable operations and legacy systems.
Qantev is an end to end AI claims platform helping health & life insurers reduce claims leakage, improve loss ratios and improve customer experience. The modular platform, built with a specialized layer of artificial intelligence replicating the decision making process of a medical expert, enables claims automation, fraud waste and abuse detection, provider network optimization, and specialized data acquisition/OCR to capture, clean and enrich & digitize data from any types of medical document.
- Increased claims straight through processing
- 10% reduction in total claims costs
- 75% FWA hit rate and 25% increase in SIU team efficiency
- 25% increase in customer satisfaction
- 2-5x return on investment within 12 months
- 99% OCR accuracy for printed, 90% for handwritten, any languages, template free
System Integrators
At Sapiens, we recognize the importance of seamless integration and implementation in achieving operational excellence. Our strategic partnerships with system integrators are instrumental in ensuring the successful deployment and integration of our solutions.
Through close-knit partnerships, we co-create solutions that revolutionize industries, empower businesses, and pave the way for a digitally-enabled future.