PR Newswire | August 07, 2020
Sapiens International Corporation, (NASDAQ: SPNS) (TASE:SPNS), a leading global provider of software solutions for the insurance industry, today announced the availability of Sapiens CoreSuite for Life Insurance on Microsoft AppSource, an online cloud marketplace that provides tailored line-of-business solutions. Sapiens CoreSuite, a platform that combines core insurance functionality with data analytics and a digital suite, can be deployed via the Microsoft Azure cloud. This includes full infrastructure, value-added services, and managed services, all of which enable customers to focus on their core business while reducing costs.
Click-Ins, Sapiens | January 12, 2021
Sapiens International Corporation, a main worldwide provider of software solutions for the insurance industry, and Click-Ins, a rapidly developing cutting edge AI SaaS vehicle damage inspection and assessment platform, today announced a partnership that will provide carriers with a comprehensive answer for accelerate claims management.
Click-Ins joins Sapiens' robust partner ecosystem, which empowers carriers to consistently and effectively implement third party solutions, providing them a significant competitive advantage. Sapiens' API-based platform and open architecture guarantees that providers can undoubtedly choose the structure blocks they need to incorporate all components inside their ecosystem, offering full digital enablement.
Click-Ins solutions support start to finish processing, automation and claims management and settlement. Through a consistent reconciliation with Sapiens' CoreSuite for P&C, carriers, everything being equal, can outfit the advantages of AI to enable agility, speed and genuinely digital, yet simplified, claims experiences.
"AI and deep learning are transforming insurance underwriting as we know it," said Roni Al-Dor, President and CEO at Sapiens. "Click-Ins has the expertise and capabilities needed to drive this transformation, making them ideal partners in our quest to provide comprehensive, customer-centric solutions."
Click-Ins computerizes vehicle inspections for a smart, digital experience, empowering carriers to detect, dissect and process vehicle damage, with the click of any digital camera. Click-Ins attempts to increase automation, reduce human blunders, misrepresentation and danger, and increase customer satisfaction.
In view of AI, deep learning, 3D demonstrating, applied mathematics and computer vision, Click-Ins empowers accurate recognition and investigation of outside damages to a wide range of vehicles. The arrangement captures and processes digital pictures of damaged vehicles and transforms them into damage reports and damage repair gauges.
"We are pleased to partner with Sapiens. The need to automate car damage detection and accelerate claim processes is vital in today's industry climate," said Eugene Greenberg, Co-Founder and CEO at Click-Ins. "The integrated solution will enable insurance companies to better serve their customers."
Sapiens CoreSuite for Property and Casualty is a profoundly coordinated, adaptable, digital contribution that combines top tier policy, charging and claims solutions into a consistent start to finish framework, giving carriers the competitive edge. Sapiens' market-driving, purpose-assembled platform is available as a full arrangement suite or as independent best of breed contributions.
Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers' compensation and financial markets. With more than 35 years of experience delivering to over 600 organizations globally, Sapiens has a proven ability to satisfy customers' core, data and digital requirements.
Founded with the aim of simplifying vehicle inspection, Click-Ins introduces AI-driven automated technology that completely redefines its category. Helping insurance and car companies transition from manual procedures to fast and efficient fact-based processes, Click-Ins provides a user experience that is both simpler and more reliable, for all parties involved.
To achieve the highest level of transparency and certainty, Click-Ins has developed a hybrid approach to AI. Using proprietary simulated data to pretrain AI modules, and leveraging multidisciplinary technologies, Click-Ins SaaS cloud solution accurately and consistently recognizes any damage, with no training period.
Renewable Guard | April 30, 2020
Renewable Guard Insurance Brokers, LLC is pleased to announce a new partnership with Hailsure Underwriting Managers, LLC to deliver a new parametric hail insurance program.
Hailsure is a leading specialist in developing innovative solutions that incorporate parametric insurance across a range of different markets.
The trigger for coverage and payout is determined by the size of the largest hail that falls on the renewable energy project site.
Renewable Guard Insurance Brokers, LLC a leading independent renewable energy insurance brokerage firm, is pleased to announce a new partnership with Hailsure Underwriting Managers, LLC to deliver a new parametric hail insurance program to renewable energy developers. Hailsure is a leading specialist in developing innovative solutions that incorporate parametric insurance across a range of different markets.
Parametric insurance is an innovative type of policy where coverage is "triggered" when a measurable event occurs which exceeds a set threshold; in this case, a significant hailstorm. Hail size is measured by the largest independent weather data provider in the country through the use of advanced 3D radar, an onsite hail station, and a series of weather algorithms that utilize multiple data sources, including the National Weather Service. The trigger for coverage and payout is determined by the size of the largest hail that falls on the renewable energy project site.
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Advantages of Parametric coverage for renewable energy project sites include:
Easy Integration into existing project-level coverage
Flexible Terms (e.g., variable coverage limits, hail size triggers)
Fast Claims (payment within 7-10 business days) without the requirement of traditional on-site claims adjustments.
The property insurance marketplace has hardened significantly in 2020 and developers in the renewable energy industry have felt the effects. Carriers providing traditional project-level insurance have seen a significant increase in catastrophic losses due to convective storms and hail damage.
2019 saw one of the industry's largest single hail loss ever with damage to a Texas-based solar project in the tens of millions of dollars. The increasing severity and unpredictable nature of convective storms have required many project-level carriers to implement sub-limits for hail, while also increasing hail deductibles. The option to obtain additional hail limits via excess markets has, in essence, become commercially nonviable due to hard market rate increases. Adding parametric hail gives the existing project-level insurance program an extra and important dimension of coverage by providing developers and their lending partners with peace of mind and protection against the serious financial impact of major hailstorms.
- says Michael Cosgrave, Principal at Renewable Guard.
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About Renewable Guard
Renewable Guard is a leading insurance and risk management brokerage created to meet the unique insurance needs of the Renewable Energy Industry. Their team of renewable energy risk managers provides operational insurance coverage on more than 3 GWs of projects throughout the U.S. The firm supports the power of clean energy and its ability to create a cleaner, more sustainable world. Renewable Guard works with solar, wind, and energy storage developers to help ensure catastrophic losses do not impact the short and long-term stability of companies who continue to construct and operate these important renewable energy projects.
Hailsure administers specialty insurance coverage based on specified parameters most commonly related to weather risks. Hailsure's parametric programs are designed to provide standalone coverage or to supplement more traditional insurance coverage where gaps in coverage may exist. Hailsure currently administers industry-specific programs for auto dealers, crop insurance, municipal, and public sector coverage.