Sapiens Offers Insurers an Effective Way to Meet ISO and NCCI Reporting Requirements
Sapiens partners with Long Group Consultants to augment reporting requirements for workers’ compensation and property & casualty insurers
June 16, 2021 – Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today a new partnership with Long Group Consultants, Inc. that will empower insurers to meet ISO and NCCI statistical reporting requirements simply and seamlessly, while reducing costs, errors and risks. The partnership will offer workers’ compensation and P&C insurers with an out-of-the-box solution for statistical reporting required for data calls, submissions to bureaus or statement reconciliations.
Traditionally highly regulated, the reporting requirements in the insurance industry are often rigorous. The partnership between Sapiens and Long Group Consultants will enable Sapiens’ customers to more easily and accurately meet strict industry requirements, including data management and other state/bureau reporting needs in the workers’ compensation (NCCI, WCSTAT & WCPOLS, Indemnity and Medical) and P&C (ISO) sectors. Together, Sapiens’ industry leading solutions and Long Group Consultant’s reporting expertise, will provide insurers with full-service statistical reporting capabilities, significantly reducing risk and enabling better planning for updates.
“We are delighted to partner with Long Group and to provide our valued customers a smarter solution that greatly improves their reporting productivity and bottom line, while lowering their risk,” said Roni Al-Dor, Sapiens president and CEO. “Client data is in excellent hands with our combined solution, which relieves insurers of the stress of searching, training and managing statistical analysts. It also eliminates incorrect reporting which can lead to excessive fines. Statistical reporting is a critical function. Having this out-of-the-box capability through our partnership will reduce the reporting burden on our carrier clients.”
“Keeping up with reporting requirements can result in a continual flood of time-consuming and specific domain expertise-required projects, not always obtainable from IT teams,” said Steven Long, President of Long Group. “Our partnership with Sapiens transfers the stress of reporting to us and relieves insurers of this major bottleneck insurers encounter.”
About Long Group Consultants, Inc.
Long Group Consultants, Inc. is a US firm of skilled professionals providing compliance reporting expertise and strategic outsourcing to insurers. Combining leading-edge technology and dedicated professionals, Long Group offers a range of solutions from full outsourcing to a SaaS, self-reporting software suite for those looking to streamline or support internal operations. For more information: www.longgroupinc.com.
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 600 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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