Sapiens solution will transform Guardian's consumer/agent experience, enabling consistency of underwriting practices across the group and smarter underwriting
RALEIGH, N.C., Nov. 1, 2021 /PRNewswire/ -- Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Guardian Group, a $1 billion carrier serving 21 countries across the English and Dutch Caribbean, is integrating Sapiens solution for accelerated underwriting for their life and health operations in Trinidad, Jamaica and Curacao.
The solution includes Sapiens UnderwritingPro, Sapiens Intelligence , and Atidot Predictive Analytics, which is pre-integrated through Sapiens PartnerHub – and will leverage Sapiens best practices, new data sources, and AI to support accelerated underwriting. Sapiens solution will automate Guardian Group's numerous manual processes associated with underwriting, thus freeing up their underwriters to focus on complex and exception cases. Cases can be auto-decisioned using rules and criteria configured by business users, and Guardian will have the flexibility of auto-decisioning as much as 95% of its fluid-less cases.
Sapiens solution will identify bottlenecks in the underwriting process and enable Guardian to shorten the cycle time, while enabling consistency of underwriting practices across Guardian Group. Advanced analytics, predictive model and AI will be used to allow Guardian Group to further tune and improve their underwriting requirements enriched with third-party data and reach an automation level of 95% of cases.
"Guardian Group's goal is to innovate and disrupt how policies are underwritten and to transform the consumer/agent experience. Sapiens is empowering that mission by enabling us to accelerate the future through innovation," said Naresh Mongroo, Guardian Group Chief Data Officer.
"Building an autonomous company that's able to stand alone and deliver efficiency and productivity requires optimal processes around culture, people and systems," said Alan Sadler, Guardian Group Chief Operating Officer. "Sapiens shares the same DNA and supports our mission to operate as one integrated, customer-centric company that delivers its brand promise consistently, at every customer touch point."
"Sapiens is delighted to align with Guardian's mission and to partner with them to deliver on all their accelerated underwriting needs. We offer a one-stop shop that addresses all accelerated underwriting needs," said Jamie Yoder, Sapiens North America President & General Manager. "We are pleased to provide Guardian the functionality to integrate and augment all of their data into a complete insurance hub, gaining operational insight to finetune critical decision-making across the entire life insurance value chain."
About Guardian Group Guardian Group, a $1 billion carrier serving the markets of 21 countries across the English and Dutch Caribbean, including Trinidad & Tobago, Barbados, Jamaica, Curacao, Aruba, St. Maarten and Bonaire, today signed Sapiens SaaS agreements for accelerated underwriting solution for their life & health operations. Guardian Group, whose history dates back nearly 170 years, offers coverage lines including life, health, property, and casualty in addition to products and services in areas such as asset management and bancassurance. Guardian Holdings Limited (GHL) is the parent company for an integrated financial services group known as Guardian Group. For more information visit https://trinidad.myguardiangroup.com/
About Sapiens Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by more than 35 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit www.sapiens.com or follow us on LinkedIn.
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