• Sapiens Insurance Platform leverages advanced AI and GenAI to streamline processes and improve insurer products.

• AI integration is transforming the insurance sector by lowering costs and enhancing consumer experiences.

• Sapiens’ relationship with Microsoft expands the platform’s capabilities, resulting in bespoke solutions for growth and efficiency.

Sapiens International Corporation, a global provider of software solutions for the insurance industry, has unveiled an advanced AI-driven platform to enhance insurers’ offerings and processes.

This cutting-edge solution, the Sapiens Insurance Platform, leverages digital engagement, data intelligence, core business processing, and machine learning and generative AI (GenAI) capabilities.

Sapiens Insurance Platform: Launch of AI-Driven Insurance Platform to Streamline Operations

The Sapiens Insurance Platform helps insurers innovate seamlessly, make smart, data-driven decisions, and automate business processes to stay competitive in a dynamic market.

The platform’s AI  was accelerated through Sapiens’ recent partnership with Microsoft, integrating advanced GenAI features and providing tailored solutions to boost growth and efficiency.

AI in the Modern Insurance Landscape

The insurance industry is transforming rapidly, and AI integration is at the forefront of this evolution. AI insurance solutions like the Sapiens Insurance Platform utilize advanced technologies to streamline operations, reduce costs, and improve customer experiences.

The platform supports end-to-end insurance processes across all lines of business, leveraging Sapiens’ global expertise and local presence.

Roni Al-Dor, President & CEO of Sapiens, states, “Sapiens’ next-generation enhanced platform empowers our customers to leverage AI across their business processes, enabling them to stay ahead, drive growth, and exceed customer expectations.

By adopting the platform approach, streamlining our processes, and leveraging shared foundations and technology engines, we deliver even greater value to our customers more quickly than ever before.”

ALSO, READ: Microsoft’s cyptocurrency integration in Xbox leaked.

Karlyn Carnahan, Head of Celent’s North American insurance practice, notes, “Today’s insurers are focused on how to grow their books of business efficiently while making optimal decisions on underwriting, claims, and customer service.

They’re looking for platforms with modern technology to streamline their operations and improve overall efficiency.

They’re also focused on open APIs for easy integration to broad ecosystems, easy configuration tools to tailor functionality to their specific needs, and above all, access to data. Solutions that offer these kinds of modern capabilities are gaining the most momentum with insurers.”

Sapiens-Microsoft Partnership: A Game Changer

Sapiens’ recent collaboration with Microsoft accelerated the platform’s AI. This partnership integrated advanced GenAI capabilities into the Sapiens Insurance Platform, offering insurers tailored solutions to accelerate growth and efficiency, making the platform a comprehensive tool for AI insurance.

Patrice Amann, regional leader of financial services at Microsoft, comments, “Our collaboration with Sapiens highlights Microsoft’s dedication to empowering the insurance industry with transformative AI.

This collaboration not only showcases the potential of Microsoft Azure and our AI technologies but also sets a new standard for innovation within the insurance industry.”

Sapiens chose Microsoft Azure as their cloud provider due to its enterprise focus, which is ideally suited to large insurers’ needs. The platform’s pre-integrated, packaged business solutions ensure rapid deployment and implementation, enabling insurers to quickly adapt to market changes and offer innovative products and services more efficiently.

Future-Proofing Insurance with Sapiens Platform

Sapiens Insurance Platform provides a robust ecosystem for insurers to streamline operations and enhance customer experiences. By harnessing the power of AI insurance, insurers can future-proof their organizations and maintain a competitive edge in a rapidly changing marketplace.

“Sapiens Integration with Microsoft Azure OpenAI accelerates the use of AI services across Sapiens Insurance Platform,” adds Roni Al-Dor.

The Sapiens Insurance Platform speeds growth by supporting end-to-end insurance processes across all lines of business. The platform’s core business processing solutions and machine learning and data intelligence help insurers make smarter business decisions and increase automation.

ALSO, READ; Microsoft announces multibillion-dollar investment in Chat GPT.

Key Features of Sapiens Insurance Platform:

• Digital Engagement: Enhances customer interactions and satisfaction.
• Data Intelligence: Provides actionable insights for better decision-making.
• Core Business Processing: Streamlines operations and reduces costs.
• Machine Learning and Generative AI: Improves process automation and efficiency.
• Pre-Integrated Business Solutions: Ensures rapid deployment and adaptability.

Roni Al-Dor, Sapiens President and CEO, emphasizes, “Sapiens’ next-generation enhanced platform empowers our customers to leverage AI across their business processes, enabling them to stay ahead, drive growth, and exceed customer expectations.”

Karlyn Carnahan adds, “They’re looking for platforms with modern technology to streamline their operations and improve their overall efficiency. Solutions that offer these kinds of modern capabilities are gaining the most momentum with insurers.”

Patrice Amann from Microsoft notes, “This collaboration not only showcases the potential of Microsoft Azure and our AI technologies but also sets a new standard for innovation within the insurance industry.”

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global leader in intelligent insurance software solutions. With Sapiens’ robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace.

Sapiens launches its next-gen intelligent insurance platform, enabling insurers to embrace the latest innovative technologies to make smarter business decisions and increase automation.

The Sapiens leverages digital engagement, data intelligence, core business processing solutions, machine learning, and GenAI capabilities to help insurers seamlessly innovate their offerings and processes

. This AI-driven platform supports end-to-end insurance processes across all lines of business, underscored by Sapiens’ global expertise and local presence around the globe.