Preferred Physicians Medical Risk Retention Group Deploys Sapiens’ P&C Offerings in the Cloud

The insurer’s Medical Risk Retention Group is using the systems to improve policy and claims efficiencies, deliver enhanced service to customers and minimize maintenance costs.

(Image credit: Marijana.)

Preferred Physicians Medical Risk Retention Group (PPM; Overland Park, Kan.), a company providing anesthesia-focused medical professional liability (MPL) to its customers, has deployed two of Sapiens (Holon, Israel) offerings: Sapiens CoreSuite for Property & Casualty and Sapiens IntelligencePro, both deployed in the cloud.

Deanna Olson, CFO, PPM.

Sapiens CoreSuite for Property & Casualty comprises three fully integrated, core components that are modular for policy, billing and claims, according to the vendor. Sapiens describes IntelligencePro as a comprehensive business intelligence solution with over 100 pre-configured reports, dashboards, scorecards, ad hoc reporting and hundreds of analytics.

PPM selected Sapiens CoreSuite as part of its technology and business transformation strategy designed to enable the company to support their growth strategy and next-generation customers. The insurer chose Sapiens CoreSuite for its ability to support PPM’s policy, quote and claims needs, as well as workflow and increased process automation and efficiency, reporting and business intelligence requirements. The suite’s extensive functionality and its flexibility to support self-sufficiently configuration for PPM’s complex coverage requirements were also key factors during the selection process, according to a Sapiens statement.

Retiring Legacy Technology

“We are thrilled to have reached go-live with Sapiens,” comments Deanna Olson, CFO, PPM. “Our business needs are complex and the flexibility of Sapiens CoreSuite for P&C with its integration to their InteligencePro, along with the partnership our teams built, is what made this implementation a success. Our goal from this transformation program was to retire our legacy system. Not only was that accomplished, but we ushered in a new era of modern and digital IT systems that will help maintain and improve our competitive position.”

Roni Al-Dor, President and CEO, Sapiens.

The Sapiens CoreSuite for Property & Casualty is enabling PPM to do the following, as described by the vendor:

  • Configure new processes and improve policy and claims efficiencies
  • Drive innovative ideas and excellent service to customers
  • Minimize short- and long-term maintenance costs over the life of the system

“We congratulate PPM on their successful implementation,” comments Roni Al-Dor, Sapiens president and CEO. “We could have not achieved this milestone within such a tight schedule without the close collaboration and partnership that was established between our teams. We see this as the beginning of a long partnership and we look forward to helping ensure PPM’s continued success.”

Preferred Physicians Medical Selected Sapiens North American P&C Platform on the Cloud

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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