Sapiens International, an Israel-headquartered developer of software solutions for the insurance industry, has released an updated version of its automated underwriting and new business case management system for life and annuities insurers.
Dubbed UnderwritingPro v14, the offering is aimed at bolstering operational efficiency, communication and AI-driven capabilities.
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The company leveraged user feedback to develop UnderwritingPro v14.
New features include AI integration to support underwriting decisions through predictive analytics and data-driven insights to improve speed and precision.
A new agent communication portal is also included in the new offering, designed to simplify interactions between agents and underwriters.
Sapiens president and CEO Roni Al-Dor said: “Our new version of UnderwritingPro reflects Sapiens’ strategic commitment to innovation and continuous development driven by industry trends, and input from our user community.
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By GlobalData“This latest release takes automated underwriting to the next level by integrating AI and provides tools that empower insurers to deliver faster, smarter and more accurate underwriting decisions.”
The new version builds on Sapiens’ existing capabilities in automating underwriting decisions with user-configurable rules and an underwriter workbench.
It also has features that make it easier to control and manage underwriting rules, including work item configuration for customisable workflow management and improved deployment processes to support rule migration across different environments.
In August last year, Sapiens’ reinsurance automation tool, Sapiens ReinsurancePro, was adopted by US-based niche insurance provider Society Insurance to automate its reinsurance processes.
The company serves over 600 customers across more than 30 countries with its software-as-a-service offerings.
Sapiens announced the availability of its solutions in the Microsoft Azure marketplace in January, enabling customers to access them on the Azure cloud platform.
