Bankers Insurance coverage Group has chosen Sapiens CoreSuite for Property & Casualty (P&C) to hurry up its development plans.
The insurance coverage firm goals to modernise its expertise infrastructure and lengthen its attain into new states and features of enterprise, starting with builder’s danger and enterprise proprietor’s coverage (BOP).
There are additionally plans for additional product introductions.
The Sapiens CoreSuite for P&C will assist Bankers Insurance coverage transition from “legacy” techniques to a “trendy, end-to-end” resolution, lowering the necessity for guide processing and enhancing service high quality all through the organisation.
By incorporating automation and analytical instruments, the brand new system is designed to shorten the time required to deliver merchandise to market and reinforce Bankers Insurance coverage’s operational capabilities.
The Sapiens suite is tailor-made to fulfill the wants of North American P&C insurers, together with coverage administration, billing and claims dealing with.
This expertise suite is meant to assist insurers reply to modifications out there, rules and evolving buyer preferences.
It consists of instruments for automated decision-making, reinsurance administration, information evaluation and digital functions.
Bankers Insurance coverage Group president Walt Sykes stated: “We have been on the lookout for a versatile, trendy platform to raise the expertise of these we serve and place ourselves for long-term, scalable development. Sapiens’ strategy, confirmed experience and expertise structure made them the best companion to assist deliver our imaginative and prescient to life.”
Sapiens president and CEO Roni Al-Dor said: “Our cloud-native, SaaS [software-as-a-service] CoreSuite is designed to assist development initiatives of forward-thinking insurers like Bankers. It should ship agility, ongoing innovation and entry to next-generation insurtech ecosystems, serving to Bankers to stay future-ready.”
In June, Absa Life in South Africa deployed the Sapiens insurance coverage platform throughout its distribution channels.
The suite consists of Sapiens CoreSuite for Life & Pensions, Sapiens DigitalSuite, Sapiens DataSuite and Sapiens Cloud Providers.
Earlier this month, Creation signed a deal, valued at $2.5bn (NIS8.48bn), to purchase Sapiens Worldwide.
