Workers’ Compensation

Sapiens CoreSuite for Workers’ Compensation

Today’s workers’ compensation market requires you to maintain profitability, necessitating technology solutions that can adapt quickly to business and market conditions and offer high levels of accuracy and efficiency. Insurers must optimize operational efficiencies, increase customer satisfaction,  and ease the administrative burden.

 

Our Suite

The Sapiens CoreSuite for Workers’ Compensation (formerly StoneRiver PowerSuite) offers larger carriers, administrators and state funds the technology solutions that enable them to adapt quickly to business and market conditions, offering high levels of accuracy and efficiency. The suite provides broad functionality throughout the entire insurance lifecycle for workers’ compensation, via a core suite, as well as policy, claims and Intelligence modules that can be deployed individually, or as an integrated solution.

Our CoreSuite includes:

PolicyPro (formerly known as “PowerSuite Policy”) enables you to quickly adapt to changes in the workers’ compensation market by offering the ability to easily modify an existing product or program (leveraging cloning and versioning capabilities).

ClaimsPro (formerly known as “PowerSuite Claims”) allows insurance organizations to handle unexpected changes that may arise throughout the workers’ compensation claim cycle, from FROI to final benefit resolution and closure.

Sapiens Connect for Workers’ Compensation (formerly known as “StoneRiver Portal for Workers’ Compensation”) is a rapid development tool that gives agents and policy holders what they want most – web access.

Sapiens IntelligencePro for Workers’ Compensation (formerly known as “4SightBI”) provides insurance carriers with information in easy-to-use formats for analysis and enhanced decision-making for workers’ compensation.

Business Benefits:

  • Maximized Underwriting Results – rules-driven, straight-through processing enables workflow definition focused on optimizing the underwriting process for improved risk analysis and higher profitability
  • Agile-to-Market Changes – flexible and scalable for quick adaptation to the changing workers’ compensation market
  • Strong Customer Focus– a global view of the customer across all quotes and policies offers underwriters and agents
    the tools to thoroughly aggregate and analyze the customer profile, resulting in better service and retention
  • Improved Operational Efficiency – increase productivity and reduce cycle times, from automated underwriting to
    compliance reporting (WCPOLS and WCSTAT)
  • Better Injury Management – our 360-degree view offers claims professionals a centralized way to view and analyze the incident, claim and claimant information for quick resolution and increased customer satisfaction
  • Financial Efficiencies – industry-leading financials provide flexibility and control of claims reserves and payments. Comprehensive, real-time payment processing supports automatic payments, split payments, offset and deductions, refunds, transfers and 1099 processing
  • Advanced Regulatory Processes – streamlined compliance reporting improves the efficiency and accuracy of your review
    process, reducing risk of potential fines (DCI, CMS, FROI, SROI)
  • Ensure Appropriate Treatment and Improve Customer Retention – containment of medical costs through outcome-based case management that focuses on the injured employee’s health and productivity. Workflow processing support allows for proactive case management and faster claim resolution
<< Back to solutions

Contact Sapiens for more information