Sapiens Partners with Gradient AI to Apply Predictive Insights to Workers' Compensation Underwriting and Claims Processes
Gradient AI's artificial intelligence-powered solutions to be integrated with Sapiens' core workers' compensation offerings to help reduce claims' durations and costs
HOLON, Israel, Aug. 19, 2020 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today it has entered into an agreement to partner with Gradient AI, a provider of artificial intelligence solutions specifically designed for insurance and risk management.
Gradient AI's artificial intelligence solutions will be integrated with Sapiens' core workers' compensation offerings, Sapiens CoreSuite for Workers' Compensation and Sapiens GO for Workers' Compensation, providing predictive insights for both underwriting and claims processes. Underwriting predictions for every policy help drive more profitable pricing and insights for all claims to reduce claims' duration, severity and administrative cost.
"We are thrilled to partner with Sapiens in their mission to provide world class underwriting and claims solutions to their customers," said Stan Smith, CEO, Gradient AI. "Our model solutions trained on our vast proprietary data set composed of more than 25 million pieces of historical workers' compensation data and over 40 external data sources, will deliver measurable results to Sapiens customers."
"Predictive analytics are already significantly impacting business operations and the customer experience in the insurance industry," said Roni Al-Dor, president and CEO, Sapiens. "Integrating AI capabilities into our core workers' compensation suites will empower insurers to better forecast future probabilities via real-time insights. We are pleased to partner with Gradient AI and plan to expand its technology to our property & casualty and life core suites in the near future."
About Gradient AI
Gradient AI was founded in order to address the need for state-of-the-art Artificial Intelligence (AI) solutions designed specifically for the insurance industry. AI has emerged as a disruptive force revolutionizing the way insurance professionals achieve their objectives, and Gradient is leading that charge. Our solutions include software and models utilized by many of the world's most recognized insurance carriers, MGAs, TPAs, pools, PEOs and more. Gradient's team of expert data scientists and insurance technology experts have an exceptional history of building wildly successful insurance technology companies, with the most satisfied customers in the industry. At Gradient, we focus exclusively on delivering measurable results in your underwriting and claims operations. To learn more about Gradient AI, please visit www.gradientai.com.
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. For more information: www.sapiens.com.
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Media Contact
Alex Zukerman
CMO and Chief of Strategy, Sapiens
+972 546 724 910
alex.zukerman@sapiens.com
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