Maarten Dauwe (pictured above), Director of Product Strategy for P/C North America at Sapiens, said:
Combining multiple capabilities is good for users and good for the industry, Dauwe said.
“Users of that system can get all the functionality and see all the information they need to know in one place,” he said.
In addition, combining multiple capabilities on the platform will help meet the growing demands for speed from both the industry and the customers it serves, he noted.
“We see more and more happening,” said Dauwe. “When you want to work with an insurance company… [and] Get insurance you don’t want to wait 5 days. we don’t want to struggle. We want everything to be snappy…and that’s what we’re pushing for this. ”
CoreSuite for P&C relies in part on the cloud, machine learning, and AI-driven algorithms that help drive innovation and predictive action. Dauwe added that end users also have tools to help facilitate their customer experience so that they can have a better experience with the products his Sapiens offers.
APIs are also an important factor.
“APIs are basically the heart that puts everything together,” says Dauwe. “Thus…our core solution communicates with all ecosystems, partners or external solutions and offerings from a carrier perspective.”
APIs are important as Sapiens integrates its platform with partners. These APIs help facilitate and introduce new technologies that are being developed as separate products that can be brought into the full platform as additional offerings.
This is the scenario we’re playing with Sapiens in our recently announced partnership with Intellagents, a no-code, hybrid cloud, independent insurance marketplace platform provider that launched in 2019. The partnership extends Sapiens CoreSuite for P&C to connect agents and insurers to new digital markets. Insurtech products and services, AI providers, and more. Specifically, Intel Agent’s platform will be integrated with his CoreSuite to provide customers with a large data marketplace in a single adapter, eliminating the need to build additional integrations for new interfaces.
According to Amanda Ingram (pictured below), the company’s Proposals, Ecosystem, and Alliances Manager, teaming the Sapiens platform with potential partners begins with thoughtful conversations.
“The first step is understanding what they are trying to achieve, so when they come to us and talk to us about our platform, they run their business end-to-end. We desperately need an end-to-end insurance platform for this,” said Ingram. “We are very focused on the insurance side of our business, which means… [addressing] Not only do we need to be able to consume data from external sources, we also need to consume algorithms, intelligence and learning capabilities. All these great features that the Intelagents platform brings into a single API. ”
This would be pairing integration points into a single integration point in a streamlined and simplified way via an API, she said.
Sapiens has integrated Intelagents’ technology into its CoreSuite platform, making all Intelagent-related information available to customers connected to its main platform, Ingram said.
Thanks to its presence in the cloud, integrating Sapiens’ platform with customers is a relatively straightforward experience. The user gets a login and gets a username/password combination. According to Ingram, they will log in to access the user interface and provide features and functionality for managing new policy business, policy approvals, billing processes, and managing filing and transaction documents, Ingram said.
Incorporating partners such as Intelagents can take up to hours or weeks, depending on the technical complexity of the particular partner. More complex partners involving workflows and multiple steps could take several more weeks, Dauwe said.