Sapiens International Corporation (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that COPIC Insurance, a medical professional liability insurance provider that insures over 14,000 physicians and over 190 medical facilities and hospitals in 12 states, selected Sapiens to enhance its underwriting processes by implementing Sapiens DigitalSuite.
Sapiens DigitalSuiteis a flexible, cloud-native, component-based digital platform specifically designed for insurance. COPIC Insurance will be utilizing Sapiens AgentConnect, a component of Sapiens DigitalSuite, which allows agents and staff to manage their pipeline, sell policies to their consumers and provide top-level customer service in real time. It integrates with Sapiens CoreSuite for Medical Professional Liability to provide COPIC a unified, omni-channel experience and frictionless services.
The goal of implementing Sapiens digital solution is to enhance the customer experience, while maintaining disciplined underwriting integrity. Sapiens DigitalSuite will enhance COPIC’s current manual quote/indication/bind processes so they can provide customers an efficient path to apply for medical professional liability insurance coverage with COPIC.
“We are expanding our relationship with Sapiens to modernize our underwriting processes for an improved customer experience. This will greatly reduce the amount of time our underwriters and staff spend manually recording and reporting indications and quotes. With the automation and acceleration of policy creation and committal, we can enable our customers to attain policies as quickly and effortlessly as possible,” said Tom Koenig, COPIC’s VP of IT.
“We are delighted to extend our relationship with COPIC and empower them to harness digital disruption and use new cloud technologies to their benefit. Sapiens digital solutions enables COPIC to reinvent customer journey standards and create a streamlined, effortless, consumer-focused process,” said Jamie Yoder, Sapiens North America President & General Manager. “It’s very gratifying to accompany COPIC on this journey and help them increase their competitive edge in today’s evolving market.”
Sapiens CoreSuite for Medical Professional Liability is the only solution on the market today developed specifically for the complexity of the medical professional liability market’s processing needs. Sapiens end-to-end, core insurance solution supports individuals, groups, hospitals and institutional businesses through the entire policy lifecycle, from policy quoting to claim resolution. Sapiens DigitalSuite is a flexible, component-based platform that allows insurers to simply achieve their goals and tailor their digital solutions to their needs, no matter where they are in their digital transformation process.