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Sapiens Unveils Enhanced CoreSuite for Property and Casualty

Sapiens International Corporation, a recognized leader in intelligent SaaS-based software solutions, has recently launched the latest version of its CoreSuite for Property and Casualty (P&C) insurance in the North American market. This significant update, labeled as version 13.0, is an integral part of the Sapiens Insurance Platform, designed to provide insurance organizations with an advanced, AI-driven, open and integrated framework for their operations.

Key Enhancements to CoreSuite

The latest enhancements include substantial performance improvements, increased integration flexibility, and streamlined usability across key components: ClaimsPro, BillingPro, and PolicyPro. These upgrades aim to tackle operational inefficiencies by enhancing speed, accuracy, and overall user experience.

Roni Al-Dor, President and CEO of Sapiens, emphasized the importance of these upgrades, stating that North American clients have expressed a strong need for better visibility into underwriting processes and help with managing integration costs and complex workflows. This update addresses those challenges by providing tools for smarter risk evaluation and requiring fewer resources for system integration.

Improved Underwriting Process

One of the most notable features of the enhanced CoreSuite is its AI-powered tools designed to improve underwriting performance. These tools help summarize data and documents effectively and provide meaningful underwriting workflows. Additionally, an intuitive dashboard displays critical metrics, enabling underwriters to assess risk more accurately and gain real-time insights into their workload and submissions.

With this version, underwriters will have quick access to essential data, ultimately leading to faster decision-making and a more productive work environment. The interface allows for quicker navigation and more efficient processing, freeing up valuable time for underwriters to focus on strategic tasks.

Streamlined Claims and Billing Capabilities

Sapiens has also placed significant emphasis on optimizing claims and billing operations. The strategic upgrades facilitate improved integration capabilities, which in turn, help manage operational costs more effectively. Billing processes have been enhanced with the introduction of a streamlined method for creating payable statements, resulting in a more efficient navigation experience for insurers.

These combined features not only enhance the efficiency of the claims process but also support a quicker response to customer inquiries, further improving client relationships and service delivery.

Future-proof Solutions for Insurers

The integrated suite provided by Sapiens CoreSuite for Property and Casualty is designed to cater to the diverse needs of North American P&C insurers. This includes policy administration, billing, and claims management, providing a comprehensive solution that allows insurers to rapidly adjust to market dynamics and regulatory changes, while keeping pace with evolving consumer expectations.

The suite’s capabilities include automated decision-making functions, reinsurance solutions, data analytics, and digital applications to create a modern and responsive service landscape. With anxieties regarding natural disasters and increasing competition, having such a versatile toolset is crucial for contemporary insurance providers.

Commitment to Innovation

Sapiens' commitment to innovation is further underscored by its long-standing recognition as a significant player in the software landscape. The company serves over 600 customers across more than 30 countries, indicating its robust global presence. Recently, Sapiens announced a definitive agreement to be acquired by Advent, a leading private equity firm, suggesting even more ambitious plans for future growth and development.

In conclusion, the launch of CoreSuite version 13.0 marks a pivotal moment for Sapiens International Corporation as it enhances the efficiency and performance of property and casualty insurance operations. As companies face increasing challenges in integrating modern technologies, Sapiens stands ready to support their clients with advanced, AI-driven solutions designed for the future.