LIFE INSURANCE

Sapiens Collaborates with Atidot to Provide Life Insurance Providers with AI-based Predictive Insights and Personalization

Sapiens, Atidot | April 22, 2021

Sapiens International Corporation, a main worldwide supplier of programming answers for the protection business, reported today a concurrence with Atidot, a cloud-based SaaS supplier of AI and AI answers forever and annuity backup plans. The association works with new ways for North American and European safety net providers to produce income through examination and noteworthy bits of knowledge.

The joint arrangement enables life and annuity safety net providers to boost the worth they acquire from their books of business. The arrangement produces significant experiences empowering better assistance for policyholders and new income age as it is coordinated with Sapiens CoreSuite for Life Insurance, Sapiens IllustrationPro, just as Sapiens' examination and advanced contribution.

"Sapiens continually means to mine innovations and give best in class answers for its client base and adds esteem through a broad environment of insurtech new companies. Coordinating Atidot's AI and prescient investigation stage with our center set-up of items empowers life backup plans to improve productivity and offer better assistance to their clients," said Roni Al-Dor, Sapiens president and CEO.

Established by a group of information researchers and veteran statisticians, Atidot offers a cloud-based stage that gives information-driven bits of knowledge to advise dynamic, drive new business methodologies, and make new income streams utilizing AI, AI prescient examination innovation. Atidot works with driving Tier 1 disaster protection organizations in North America and Europe and was chosen in 2020 by Gartner as "Cool Vendor 2019 in Insurance."

"We are eager to collaborate with Sapiens to empower clients to push ahead to the information time. Atidot carries problematic development to the life coverage industry, giving a stage that will help improve productivity and personalization of arrangements and adopt a proactive strategy to chance decrease," said Dror Katzav, Atidot Co-Founder and CEO.

Together, Sapiens and Atidot offer a one-of-a-kind programming arrangement that is dynamic, constant, and prepared with industry information. The joint stage use outside information and AI abilities to give business experiences a long way past those that conventional investigation techniques utilizing static demonstrating can show. The arrangement applies to associations' advertising, dispersion, item, and information offices.

Sapiens CoreSuite Life Insurance works with computerized change and quick an ideal opportunity to-an incentive for advanced systems. It empowers life transporters to become drawn in, coordinated associations with expanded deals openings. By incorporating CoreSuite with Sapiens progressed examination arrangement and information stockroom, guarantors can rapidly create significant experiences, self-administration business insight, and information revelation capacities, across every cell phone, remembering for the cloud.

About Atidot
Atidot is a pioneer in the prescient examination, computerized reasoning, and AI answers for the life coverage and annuity industry. Atidot's cloud-based stage gives safety net providers information-driven, significant bits of knowledge that set out new income-producing open doors to expand deals and client maintenance. Atidot arrangements likewise give a profound comprehension of backup plans' item situating and serious scene, empowering transporters to change their item technique and respond rapidly to changing economic situations and rivalry. Atidot works with Tier 1 industry pioneers in North America and Europe and was chosen by Gartner to be "Cool Vendor 2019 in Insurance." The organization has workplaces in California, London, Spain, and Israel.

About Sapiens
Sapiens International Corporation engages backup plans to prevail in a developing industry. The organization offers computerized programming stages, arrangements, and administrations for the property and loss, life, benefits and annuity, reinsurance, monetary and consistency, laborers' pay, and monetary business sectors. With over 35 years of involvement conveying to more than 600 associations around the world, Sapiens has a demonstrated capacity to fulfill clients' center, information, and advanced prerequisites.

Spotlight

An individual, feature-by-feature review of the 13 exchange websites can be found in Appendix III of this report. Our core finding for the 2017 open enrollment period is that some exchanges are delivering a high-quality online comparison-shopping experience that allows consumers to evaluate key health plan details, such as provider networks and drug formularies. Improvements made by several exchanges, compared to 2016, have widened the quality gap between the best and worst performers. While HealthCare.gov has moved near the top of the class, most state-based exchanges still do not offer the three decision-support tools considered the gold standard of informed consumer choice an out-of-pocket cost calculator, integrated provider directory, and integrated drug directory.

Spotlight

An individual, feature-by-feature review of the 13 exchange websites can be found in Appendix III of this report. Our core finding for the 2017 open enrollment period is that some exchanges are delivering a high-quality online comparison-shopping experience that allows consumers to evaluate key health plan details, such as provider networks and drug formularies. Improvements made by several exchanges, compared to 2016, have widened the quality gap between the best and worst performers. While HealthCare.gov has moved near the top of the class, most state-based exchanges still do not offer the three decision-support tools considered the gold standard of informed consumer choice an out-of-pocket cost calculator, integrated provider directory, and integrated drug directory.

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INSURANCE TECHNOLOGY

Farmers Insurance® Plans First Use of Mobile Robot For Catastrophe Claims & Property Inspections

Farmers Insurance | September 21, 2021

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CORE INSURANCE

South Risk Management is Acquired by Propel Insurance

Propel Insurance | June 07, 2021

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LIFE INSURANCE

Sapiens Partners with LifeScore Labs to Innovate Life Insurance Underwriting

Sapiens, LifeScore Labs | December 04, 2020

Sapiens International Corporation, a main worldwide supplier of software answers for the insurance business, reported today an association with LifeScore Labs, a completely possessed insurtech subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual), to offer life guarantors progressed AI capacities for more exact risk assessment and underwriting. Through a consistent reconciliation with Sapiens Underwriting Pro, transporters can get a moment assessment of mortality risk on their candidates utilizing two diverse scoring models – LifeScore Med360℠, which computes mortality risk dependent on 49 candidate explicit information focuses including a clinical test, and LifeScore Fluidless℠, which evaluates risk using self-detailed candidate data along with credit and freely available reports. AI models can offer a more exact and exact methods for measuring mortality risk than conventional techniques. The mechanization gave by LifeScore Labs improves risk assessment, diminishes underwriting costs and improves proficiency while conveying a superior client experience. "ML, AI and big data are transforming insurance underwriting as we know it," said Roni Al-Dor, President and CEO at Sapiens. "With its team of more than 40 data scientists and more than 1.5 million application records dating back 20 years, LifeScore Labs and MassMutual have the expertise and capabilities needed to drive this transformation, making them ideal partners in our quest to make life insurance more efficient, tech-savvy and customer-friendly." Notwithstanding reams of verifiable application records, LifeScore Labs' AI models additionally fuse more than 1.2 million records with annexed credit and freely available reports information, just as in excess of 23,000 noticed passings. Through the Sapiens-LifeScore Labs association, guarantors will approach a set-up of highlights accessible through Sapiens UnderwritingPro stage, an electronic answer for computerized underwriting and new business case the executives intended to smooth out safety net provider work processes and decrease time to issue and strategy obtaining costs. Sapiens UnderwritingPro gives a total Straight-Through Processing (STP) underwriting climate with its instinctive UI, constant dashboard, refined guidelines motor, and progressed work process and examination. The hearty advanced arrangement encourages the drive for safety net providers to advance toward "fluidless" underwriting encounters with negligible or no human mediation. "To successfully compete in a fast-evolving market, life insurers need best-in-class automation technology, robust data capabilities, a granular understanding of risk and the agility to adapt to changing customer needs – and that's precisely what the synergistic partnership between Sapiens and LifeScore Labs will offer," said Michael Gallary, COO, LifeScore Labs. About Sapiens 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 500 organizations globally, Sapiens has a proven ability to satisfy customers' core, data and digital requirements. About LifeScore Labs, LLC LifeScore Labs, LLC (LifeScore Labs), a wholly owned subsidiary of MassMutual, was established in 2017 to bring to market selected intellectual property created by MassMutual's Data Science team. LifeScore Labs delivers a toolkit of data-driven risk-scoring models that make underwriting more efficient while generating results that are easier to interpret for both insurers and consumers.

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