Sapiens and IBM Announce new Software for Smaller Insurance Carriers |
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Written by U. S. Insurance News
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Monday, 09 June 2008 |
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Small and medium property and casualty insurance providers will soon
have the same enterprise-class software that large-scale providers use
thanks to a new partnership between Sapiens International Corporation
and IBM. The new software, Sapiens INSIGHT™ for Business Intelligence,
uses Millbrook P&C data model as its foundation and runs via IBM’s
Cognos 8 Business Intelligence (BI) platform. Millbrook’s data model is
supported by 15 years experience giving P&C insurers solutions.
Sapiens INSIGHT for Business Intelligence offers a fast and easy setup by allowing businesses to upload their data through a standardized data format. Once up and running, users can find an assortment of analytical tools , such as Key Performance Indicators (KPIs), predictive analytics, alerts, visualizations and assorted reports through easy-to-use dashboard controls.
Using business intelligence and predictive analytic tools can give smaller carriers the same edge as larger enterprises. Enabling smaller insurance companies to create predictive models allows them to offer a more accurate, and even a lower cost, policy for their customer.
In discussing the new partnership, Roni Al-Dor, CEO and President of Sapiens International stated, "We are excited about the offering and our ability to make it available on-demand, at an affordable cost, to carriers of all sizes. Small and medium sized insurance carriers face the same challenges as larger companies, but have limited IT resources to solve such challenges. They need to compete and Sapiens INSIGHT™ for Business Intelligence gives them that edge,"
John Search, Principal and Co-Founder of Millbrook added, "The small to medium sized carriers are the backbone of the insurance industry. They face unprecedented market challenges. Sapiens INSIGHT for Business Intelligence provides the tools they need to survive in this very demanding market."
Finally, Dave Mitchell, ISV & Developer Relations, IBM had this to say, "IBM recognizes the importance of Web delivered applications and is partnering with Sapiens and Millbrook to use our managed hosting services coupled with IBM Cognos BI to bring unparalleled business intelligence to property & casualty carriers of all sizes."
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