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Earnix and Sapiens Collaborate to Enhance P&C Insurers' Operational Efficiency

In an impressive move that promises to reshape the operations of property and casualty insurers across Europe, the Middle East, Africa (EMEA), and the Asia-Pacific (APAC) regions, Earnix and Sapiens International Corporation have announced a strategic partnership. This collaboration has resulted in the launch of the Earnix Price-It™ Connector, designed specifically for Sapiens' IDITSuite core solutions. This innovative tool integrates intelligent pricing and rating solutions that will help insurers streamline their operations and respond more effectively to market dynamics.

The Need for Operational Efficiency

Insurance companies are consistently challenged to optimize their pricing strategies, enhance policy management, and develop agile workflows. As consumer expectations evolve and competition increases, the need for a robust, modern solution is more critical than ever. By creating this new connector, Earnix and Sapiens aim to address these challenges head-on, enabling insurers to efficiently define their products and build competitive rates while seamlessly integrating them into their existing operational workflows.

Features of the Earnix Price-It Connector

The Earnix Price-It Connector facilitates a bi-directional data flow between Earnix and Sapiens systems, allowing for real-time premium calculations and quote generation. This means insurers can quickly adapt their offerings based on market conditions, enhancing their decision-making capabilities. Specific benefits include:

• - Accelerated Implementation: Integration timeframes are significantly reduced, allowing insurers to quickly implement the Earnix rating engine with their Sapiens Policy Administration System.
• - Enhanced Pricing Strategies: By leveraging predictive analytics and AI, insurers can create more sophisticated pricing models that align with risk more accurately.
• - Innovative Rate-Making Tools: The connector employs low-code tools to facilitate rapid adjustments to pricing strategies in response to market shifts, eliminating delays.
• - Error Reduction: The integration minimizes manual data entry, diminishing the risk of errors associated with rate recoding across different systems.

Leadership Insights

Robin Gilthorpe, CEO of Earnix, expressed enthusiasm about the introduction of this innovative connector, stating, “We are excited to empower insurers to integrate modern solutions into their existing technology stacks, driving operational efficiency and ultimately improving their business outcomes.”

Roni Al-Dor, President and CEO of Sapiens, shared similar sentiments, noting that the collaboration addresses the evolving needs of customers by enabling seamless integration that optimizes operations, enhances pricing strategies, and improves overall performance. He emphasized that this partnership marks a significant step towards unlocking efficiency and value throughout the lifecycle of policy processing, claims, and billing.

About Sapiens International Corporation

Sapiens International Corporation is a renowned leader in intelligent SaaS-based software solutions tailored for the insurance industry. With an extensive portfolio encompassing various insurance types and a global customer base, Sapiens is committed to fostering innovation and operational excellence within organizations, supporting them to navigate a rapidly evolving market landscape.

About Earnix

Founded in 2001, Earnix has established itself as a foremost provider of agile, intelligent decisioning solutions in pricing, underwriting, rating, and product personalization for insurers and banks globally. With its fully integrated platform, Earnix continues to innovate and improve value for its clients in over 35 countries.

Conclusion

The collaboration between Earnix and Sapiens stands out as a pivotal endeavor within the insurance sector, aiming to empower insurers in EMEA and APAC to harness technology, enhance efficiency, and achieve both operational excellence and improved profitability. This partnership is indicative of the ongoing trend towards digital transformation in the insurance landscape, ultimately benefiting insurers and their clients alike.