Sapiens Accelerates Growth for Medical Professional Liability Insurers

Sapiens’ expanded offering maximizes business value for MPL insurers, supporting growth and retention.

(Image source: Pixabay.)

Sapiens International Corporation (Holon, Israel), a global provider of software solutions for the insurance industry, has announced a strategic investment in Sapiens CoreSuite for Medical Professional Liability (MPL), to foster growth and innovation for the MPL industry.  By expanding and augmenting its MPL capabilities and products for policy administration, finance, claims, and risk management, and the seamless integration with value-added vendor solutions, Sapiens says it meets the needs of MPL insurers in the rapidly consolidating MPL market.

Craig Musgrave, SVP, Technology, ProAssurance.

The vendor says this strategic expansion marks a significant milestone in Sapiens’ growth trajectory and strengthens support for Sapiens’ existing MPL customers while expanding its reach to new prospects seeking global best practices, a vibrant user community, and an extensive partner ecosystem.

Sapiens’ says its solution empowers insurers to manage the complexities of MPL operations effectively and adapt quickly to new regulatory requirements and industry standards. With its enhanced functionality and flexibility, improved integration capabilities, and superior user experiences that support growth and retention, Sapiens CoreSuite for MPL delivers substantial new business value, the vendor asserts.

Sapiens notes that ease of integration is a critical differentiator for MPL insurers’ customers. “Cloud-based solutions with AI-driven automation have become the de facto standard for any kind of implementation or application that not only serves the business but also is smooth and easy to implement from an IT perspective,” comments Craig Musgrave, Senior VP of Technology, ProAssurance. “In today’s dynamic climate, when multiple vendors need to solve a myriad of business problems, the pre-integration between those vendors is essential. To accelerate speed to market and maximize business results, insurers need to adapt their environment and leverage pre-integrated solutions from a host of vendors.”

Ongoing Strategic Focus

Roni Al-Dor, President and CEO, Sapiens.

“Sapiens is proud of its critical role as a leader in the MPL ecosystem, and we are committed to an ongoing strategic focus on this market,” comments Roni Al-Dor, President and CEO, Sapiens. “Our advanced solutions unburden insurers from complex business problems, enabling business users to take control of processes. Sapiens helps create a synergy between those two worlds, giving MPL insurers a clean bill of health to empower them to thrive.”

Sapiens CoreSuite for Medical Professional Liability is the only solution on the market today developed specifically for the complexity of the medical professional liability market’s processing needs, according to the vendor. “Sapiens’ end-to-end, core insurance solution supports individuals, groups, hospitals and institutional businesses through the entire policy lifecycle, from policy quoting to claim resolution,” the Sapiens statement says.

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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 AnthODonnell@IIReporter.com or (503) 936-2803.

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