Fintech
Sapiens launches its next generation intelligent insurance platform
Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today launched its intelligent, open, integrated and cloud-native insurance platform powered by artificial intelligence. Sapiens Insurance Platform leverages digital engagement, data intelligence, core business processing solutions, ML and GenAI capabilities to help insurers seamlessly innovate their offerings and processes, enabling them to remain competitive in a dynamic market with intelligent, data-driven business decisions and hyper-automation of the business process. The integration of AI into the platform has been accelerated by Sapiens’ recent integration with Microsoft, offering insurers advanced GenAI capabilities, as well as unique, tailored solutions to accelerate growth and efficiency.
Sapiens Insurance Platform accelerates growth by supporting end-to-end insurance processes across all lines of business, highlighted by Sapiens’ global expertise and local presence around the world. Additionally, the speed to market that Sapiens customers achieve through pre-integrated and pre-packaged business solutions ensures rapid deployment and implementation. This allows insurers to quickly adapt to market changes and offer innovative products and services more efficiently.
“Sapiens’ enhanced next-generation platform enables our customers to leverage AI in their business processes, enabling them to stay ahead, drive growth and exceed customer expectations. By taking the platform approach, optimizing our processes, and leveraging shared foundations and technology engines, we deliver even greater value to our customers, faster than ever,” said Roni Al-Dor, President and CEO of Sapiens. “The integration of Sapiens with Microsoft Azure OpenAI accelerates the use of artificial intelligence services on Sapiens Insurance Platform.”
“Today’s insurers are focused on growing their books of business efficiently while making optimal underwriting, claims and customer service decisions,” said Karlyn Carnahan, head of Celent’s North American insurance practice. “They are looking for platforms equipped with modern technology to streamline their operations and improve their overall efficiency. They also focus on open APIs for easy integration into large ecosystems, simple configuration tools to tailor features to their specific needs, and most importantly, access to data. Solutions that offer this type of modern functionality are gaining more and more momentum among insurers.”
Sapiens Insurance Platform provides insurers with a robust ecosystem to streamline operations and improve customer experiences. Sapiens chose Microsoft Azure as its cloud service provider due to its enterprise focus, perfectly suited to the needs of large insurers.
“Our collaboration with Sapiens highlights Microsoft’s commitment to empowering the insurance industry with transformative AI solutions. This collaboration not only showcases the potential of Microsoft Azure and our AI technologies, but also sets a new standard for innovation in the insurance industry,” said Patrice Amann, regional leader of financial services at Microsoft.