The latest from Sapiens;
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announces that Sapiens UnderwritingPro for Life & Annuities has received a 2024 XCelent award, in the Customer Base and Support categories in the North America region for new business and automated underwriting (NBUW) systems. This marks the third consecutive time Sapiens has been awarded by Celent for its underwriting solution.
Research and consulting firm Celent analyzed 20 NBUW systems for North America life insurance and using their Technical Capability Matrix placed solutions in categories based on the sophistication and breadth of its technology and functionality. Based on reference materials and a live demonstration, Sapiens was highlighted as a Functionality Standout in the matrix. Customer base and support is also analyzed with opinion drawn from customer references and Sapiens was recognized as the top performer in this category.
“This award acknowledges Sapiens’ commitment to delivering exceptional solutions that empower insurers to streamline processes and achieve superior outcomes,” said Roni Al-Dor, CEO and President of Sapiens. “UnderwritingPro reflects our dedication to innovation, customer success, and operational excellence, enabling our clients to drive efficiency and elevate their underwriting capabilities.”
According to the Celent report, “The system’s case management and underwriting features provide end-to-end functionality for the full underwriting process. A new feature is direct messaging with agents within the UnderwritingPro system, where underwriters can add case notes and request specific documents from agents, which are then visible in the agent’s portal.” Celent also recognized significant investment into Sapiens Underwriting Rules Engine stating “The rules engine was revised to provide search capability, and the UI across all rules engine components makes configuration much simpler. Most Sapiens clients are self-sufficient and manage their rules with non-technical staff.”
The report added, “UnderwritingPro’s client base has helped this become a strong new business and underwriting solution targeted at making the underwriting process more effective and efficient for any line of business. Celent believes it should be on an insurer’s short list if they are looking for a new business and underwriting system.”
Sapiens UnderwritingPro is a web-based, new business, automated underwriting solution that drives straight-through processing, elevating both the internal and external customer experience. Using traditional data and evolving, alternative data sources, UnderwritingPro provides innovative and accelerated risk analysis and a full-featured underwriting workbench to support the wide spectrum of new business cases, from application receipt to coverage decision.
To download the report, click here
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