Quickly respond to changing market conditions and bring new enhancements to market faster

TYPICAL CHALLENGES 

Consider how quickly your system can adapt to:

Workflow and Process Updates: When business conditions change, do you struggle with manual work-arounds, or can you easily apply automated processes to address any issue?

Definition of workers’ compensation: Since the pandemic, states have enacted presumptions that COVID-19 may be work-related under certain conditions and have taken steps to expand compensability to include future disease outbreaks.

Pricing logic: Does your underwriting process feature older pricing logic that doesn’t factor in the latest safety features and types of businesses being insured, which brokers must manually augment? 

By combining engagement and transactional capabilities within a single platform, insurers improve time to value and increase tactical and strategic agility. To achieve this, however, a platform must be able to adjust.

Architectural rigidity is one of the greatest limitations of legacy systems as well as modern systems that are designed broadly for many lines of business.

THE SAPIENS' ADVANTAGE

A robust premium calculation engine supports complex policies (i.e., PEOs, Federal Coverages, Loss-Sensitive Rating plans – retrospective rating and large deductibles).

Quoting tools, such as multiple quote creation and comparisons for all life cycle stages, as well as a rating engine built specifically for workers’ compensation, allows you to prepare more competitive proposals and get them in front of clients faster.

Built-in workflow tools add support to insurers’ existing capabilities, including work queues and routing, manager dashboards, absence management, and re-assignment tools.

A configurable Case Tool centralizes access to assignments, action plans, activities, status, recommendations, and notes so that underwriters can obtain a clearer presentation of risk data.

With out of the box functionality, codeless configuration, and a rules-driven engine, Sapiens provides workers' compensation insurers the ultimate flexibility with the power to define workflow and support advanced automation to optimize underwriters’ daily activities, accelerate response, and improve effectiveness.

BENEFITS

Rules-driven straight-through processing enables workflow definition focused on optimizing the underwriting process for improved risk analysis and higher profitability.

With a proven history of successful implementations (with no failed projects), you can feel secure knowing we will get you up and running in record time.

The open-architecture design enables clients to roll out new states quickly through no-code configuration, empowering faster and easier upgrades and a significant reduction in time and cost.

Fast, efficient upgrades allow continuous access to the latest functionality, including pre-built workflows and caseload management.

Provide better service and increase retention by aggregating and analyzing any customer profile with a global view across all quotes and policies.

Win more business by bringing new products and enhancements to market faster.