Insuranceciooutlook

Sapiens: One-Stop-Shop for Digital Era Insurers

CIO VendorRoni Al-Dor, President and CEO
Insurers today are struggling to keep up with customer expectations, particularly digital demands and the desire for increased customer engagement. These challenges are exacerbated by the entrance of InsurTech companies that are not burdened by out-of-date technology and can offer an immediately upgraded customer experience.

Sapiens [NASDAQ and TASE: SPNS] – a core software solutions provider for the global life, pension and annuities, property and casualty, reinsurance and retirement markets, as well as business decision management software – can help. They offer modern technology to deliver high-touch customer engagement, straight-through-processing and the ability to launch modern insurance products immediately.

By heavily investing in technology innovations, Sapiens provides award-winning solutions to clients. Sapiens’ customers can benefit from a comprehensive digital suite, which facilitates a holistic and seamless digital experience for agents, customers and assorted insurance personnel. The suite includes customer and agent portals that provide a 360-degree view of customer/agent statuses and business details, personalized video capabilities, IoT integration and a customer engagement platform.

“Because insurers often find it difficult to generate actionable insights from vast streams of data while ensuring the uninterrupted flow of data across the entire organization, we’ve extended our functionality to include superior data analytics,” says Al-Dor, Sapiens President and CEO.

To best help its market-leading customers stay ahead of the competition, Sapiens has partnered with Life.io, a leader in the digital consumer engagement space; CalcFocus, a provider of advanced and rapid illustration functionality that includes straight-through processing, for identifying user triggers and suggesting carrier product recommendations; and Idomoo, a top provider of personalized video technology for enterprises.

“The combination of advanced software solutions with constant R&D investment and creative partnerships; our deep market and business knowledge, expertise and regulatory support; and strong delivery and services orientation, offer a highly unique and compelling proposition to our customers,” according to Al-Dor.

Sapiens’ customers can benefit from a comprehensive digital suite


One of these compelling propositions is the Sapiens’ DECISION software platform, which was designed for multiple industries. The software’s cornerstone offering, Sapiens DECISION Manager, provides business users with the ability to discover, document, model, validate, test and then deploy complex business regulations, policies, rules and scenarios.

“The platform was specifically architected with the business user in mind. It is technology-agnostic and allows for complete governance, traceability and change management capabilities at an enterprise scale,” says Al-Dor.

Sapiens’ technology is well respected. A recent Gartner report, “Critical Capabilities for Life Insurance Policy Administration Systems, North America,” quantified 15 life solutions and stated that Sapiens ALIS for life and annuity providers received the highest product scores in the “New Application/Manual Underwriting,” “Policy Change” and “Service through Portals/Mobile” North American use case categories.

In addition to its superior technology, Sapiens’ key differentiators are its global presence and relationships, 30+ years of proven leadership and financial stability.

“Our dedicated insurance and financial services professionals possess extensive industry expertise,” notes Roni Al-Dor. “They are attuned to today’s market conditions and trends, while constantly thinking about preparing for the future. That knowledge and vision is leveraged to provide thought-leadership and serve as trusted advisors to Sapiens’ clients, many of whom have been with us for more than a decade.”

Sapiens plans to continue to grow both organically and via mergers and acquisitions. The company is focused on enabling customers to chart a strategic course for the future by offering them its full digital proposition across all solutions, cloud and SaaS deployments, robust managed services, and solutions with embedded artificial intelligence and machine learning.

“We are planning to cross new technological frontiers at a global level,” Al-Dor concludes.