As the insurance industry continues its digital transformation journey, it’s vital that it streamline operations. The market and customers demand that insurers become more agile and respond more quickly to the phenomenal pace of change. Customers demand instant insurance, automated claims and claims handling, and transparency in underwriting. While the business is pressured to maintain compliance, competitive edge and sustainability, IT and operations are faced with ever-increasing demands that their traditional processes and systems cannot meet in a timely, accurate and cost-effective manner.
Sapiens Decision for Insurance (formerly called Sapiens DECISION) enables insurers to efficiently adapt their business operations to the demands of digital transformation, changing regulations, customer demands and increasing competition.
It is used by major insurance companies in life, property & casualty, commercial and personal lines to implement process automation and effect digital transformation.
Sapiens Decision transforms how insurance carriers are approaching change, by modernizing traditional business rules management. It enables insurers to grow their business and respond to market needs through accurate and consistent enforcement of business rules and policies.
With Sapiens Decision, the insurer’s business domain is actively involved in the design, implementation, analysis, testing and optimization of decisions. The process takes days or weeks, instead of months or years. It enforces business logic across all enterprise applications, effectively addressing the complexity of determining and then translating business logic – data, business rules and machine learning used to make business decisions – into operational code.
Sapiens Decision enables accurate risk management via automated risk selection, consistent risk treatment and adherence to the carrier’s risk appetite. It provides effective and automated decision making with accurate application of the insurer’s rules and policies. Decision ensures that the insurer is always compliant and enables the enforcement of changes in real-time.
Sapiens Decision has assisted insurers to more effectively anticipate customer needs: