Sapiens North American Property and Casualty Platform
The Sapiens Property and Casualty Insurance Platform is a modern P&C digital insurance platform. With the ability to deploy its offerings as a complete platform, or as standalone modules, Sapiens will address all North American P&C carriers’ needs, across all their lines of business and distribution channels.
Our mature platform is cloud and API-based, and features a strong core and an accompanying reinsurance solution, advanced analytics and data enablement capabilities, plus full digital engagement capabilities.
The Sapiens Property and Casualty Insurance Platform is comprised of four fully integrated, yet standalone, components: Policy, Billing, Claims and Reinsurance (those components are based on the former Adaptik, StoneRiver Stream and Sapiens Reinsurance products, respectively, but have been integrated into a unified proposition).
Policy is used by agents, underwriters and customers to quote, issue and administer policies. It includes integration with third-party systems and provides comprehensive policy lifecycle support for all P&C lines of business.
Billing enables P&C carriers to integrate with third-party systems and data repositories, enjoy best-in-class usability and automate processes throughout the billing lifecycle. These offerings improve policy administration and billing for commercial, personal and specialty lines of business.
Claims is an underlying platform that prepares P&C carriers to adapt to new business requirements. The claims system offers intelligent rules-driven workflow with effective claim assignment, ensuring faster cycle times in claims, which equates to lower expenses and settlement costs
Sapiens Reinsurance is a comprehensive set of solutions enabling insurers to manage the entire range of reinsurance contracts and activities for all lines of business, including rich accounting functionality and reporting capabilities.
Sapiens Adaptik Policy for North America (P&C)
The Sapiens Adaptik Property and Casualty Insurance Platform is based on a fully integrated, yet standalone, component: Sapiens Policy (the component is based on the former Adaptik product).
Sapiens Adaptik Policy is used by agents, underwriters and customers to quote, issue and administer policies, including integration with third-party systems. It is fully integrated with Product Designer to provide configuration-driven and context-sensitive web page presentation, navigation, transaction processing and integration with third party systems and services.
Sapiens Adaptik Policy provides comprehensive policy lifecycle support for all P&C lines of business:
- Support for internal users, as well as agent and direct-to-consumer channels
- Support for role-based processing
- Quick Quote and full application data capture flows
- Configured, straight-through processing
- Complete quote, issue, bind and service functionality including “what-if?” scenario building
- Full policy lifecycle management including new business issuance, changes, cancellations, reinstatements, renewals and comprehensive support for out-of-sequence transactions
- Complete historical views of policy information with full audit capability
Sapiens Adaptik Billing for North America (P&C)
The Sapiens Adaptik Billing component (the component is based on the former Adaptik product) is a critical piece of the Sapiens Property and Casualty Insurance Platform. Billing is a fully integrated, yet standalone, component.
Sapiens Adaptik Billing is a configurable, scalable, enterprise billing solution. It features flexibility, ease of deployment and highly configurable integrations – in an entirely new paradigm.
- Integrate with third-party systems and data repositories with unparalleled speed and ease
- Manage billing on an agency bill (available now) or direct bill (coming soon) basis
- Automate processes throughout the billing lifecycle – lockbox, allocation, transfers, disbursements and write-offs
- Reduce billing leakage and collection time frames through sophisticated workflow and task management
- Support multiple currencies with automatic FX gain and loss adjustments
- Deliver timely and accurate information through comprehensive reports
Sapiens Stream Claims for North America (P&C)
The Sapiens Stream Claims component (the component is based on the former StoneRiver product) is a critical piece of the Sapiens Property and Casualty Insurance Platform. Billing is a fully integrated, yet standalone, component.
Sapiens Stream Claims streamlines end-to-end claims processing for all personal and commercial lines, and prepares P&C insurers to adapt to new business requirements with the underlying platform. While you might struggle implementing changes with your current system, Claims operates with configurable business rules & workflow.
- One-click access to key features
- Mobile app for claim adjusters (see the app in action)
- Configurable claims rules and intelligent workflow
- Claims dashboards with drill-down capabilities
- Case Management for complex claims, fraud, etc.
- Info sharable across quotes, policies, claims and accounts
- Business Intelligence for actionable claims data
Our reinsurance solution provides a single, consolidated platform that enables full and flexible control of reinsurance processes with built-in automation of contracts, calculations and processes. This results in optimized operations, enabling comprehensive tracking and auditability, as well as full support for statutory reporting and compliance.