Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today an agreement with Atidot, a cloud-based SaaS provider of AI and machine learning solutions for life and annuity insurers. The partnership facilitates new ways for North American and European insurers to generate revenue through analytics and actionable insights.
The joint solution empowers life and annuity insurers to maximize the value they gain from their books of business. The solution produces actionable insights enabling better service for policyholders and new revenue generation as it is integrated with Sapiens CoreSuite for Life Insurance, Sapiens IllustrationPro, as well as Sapiens’ analytics and digital offering.
“Sapiens constantly aims to mine new technologies and provide state-of-the-art solutions for its customer base, and also adds value through an extensive ecosystem of insurtech startups. Integrating Atidot’s AI and predictive analytics platform with our core suite of products enables life insurers to improve profitability and provide better service to their customers,” said Roni Al-Dor, Sapiens president and CEO.
Founded by a team of data scientists and veteran actuaries, Atidot offers a cloud-based platform that provides data-driven insights to inform decision making, drive new business strategies, and create new revenue streams using AI, machine learning predictive analytics technology. Atidot works with leading Tier 1 life insurance companies in North America and Europe and was selected in 2020 by Gartner as “Cool Vendor 2019 in Insurance.”
“We are excited to partner with Sapiens to enable customers to move forward to the data era. Atidot brings disruptive innovation to the life insurance industry, providing a platform that will help enhance profitability and personalization of policies and take a proactive approach to risk reduction,” said Dror Katzav, Atidot Co-Founder and CEO.
Together, Sapiens and Atidot offer a unique software solution that is dynamic, real time and trained with industry data. The joint platform leverages external data and machine learning capabilities to provide business insights far beyond those that traditional analysis methods using static modeling are able to show. The solution is relevant to organizations’ marketing, distribution, product and data departments.
Sapiens CoreSuite Life Insurance facilitates digital transformation and fast time-to-value for digital strategies. It enables life carriers to become engaged, agile organizations with increased sales opportunities. By integrating CoreSuite with Sapiens advanced analytics solution and data warehouse, insurers can quickly generate actionable insights, self-service business intelligence and data discovery capabilities, across all mobile devices, including in the cloud.
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