Software solutions provider for insurance Sapiens has formed a strategic partnership with insurance solutions firm DataCrest to drive growth for P&C insurers.
The collaboration between Sapiens and DataCrest, with its AppEase platform, has the goal of accelerating operational efficiencies for P&C insurers.
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Furthermore, the partnership will allow DataCredit to better cater to its customers’ needs and empower them to develop more leading digital experiences, as well as increase efficiency, revenue and hit ratios.
Sapiens customers will gain reduced sales cycles of around 80% by collecting app data electronically, improved ease of business, more informed and faster decisions through analytics, removal of unneeded data entry and faster quotes.
“The collaboration between Sapiens and DataCrest promises a multitude of benefits for P&C insurers, including an advanced front-end solution designed to streamline applications/submission intake and boost efficiencies to improve underwriting decision making,” said DataCrest’s CEO Tom Young. “With DataCrest’s expertise and Sapiens’ cutting-edge solutions, this partnership aims to redefine industry standards by increasing the ease of doing business, driving premium growth, and lowering loss ratios.”
“Strategic partnerships between the right insurtechs and solution providers can play a crucial role in the future endeavors and achievements of today’s carriers,” added Gayle Herbkersman, head of North America P&C insurance platform business unit.
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By GlobalData“By working together, Sapiens and DataCrest can offer next-gen, cost-effective solutions to our customers while further expanding the boundaries of the insurtech revolution. DataCrest has proven to be a model partner and has shown great diligence in refining the integration of our two solutions. They have already forged valuable relationships with customers.”
BHSF, a UK-based insurer, has also adopted Sapiens’ software-as-a-service (SaaS) platform to transform its operational infrastructure.
The move is aimed at replacing BHSF’s legacy mainframe application to increase agility and speed up the market for changes through Sapiens’ no-code/low-code configuration tools.
Under the alliance, Sapiens’ platform including Sapiens IDITSuite for property and casualty (P&C) and Sapiens DigitalSuite will be deployed by BHSF.
