Sapiens Announces New Version of Insurance Underwriting Solution

The upgrade to the cloud-enabled life & annuities offering includes a new reinsurance interface to facilitate data transmission and enhanced underwriter notes capabilities.

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Sapiens International Corporation, (Holon, Israel), a global provider of software solutions to the insurance industry, has announced a new version of Sapiens UnderwritingPro for Life & Annuities.

Version 11 is available now over the cloud and provides the latest set of product advancements, including a new reinsurance interface to facilitate data transmission and enhanced underwriter notes capabilities, according to a vendor statement. UnderwritingPro is a web-based new business and automated underwriting system that the vendor says drives straight-through automation, streamlining the entire new business process from application receipt through coverage approval, providing an efficient and consistent automated underwriting solution.

“The Sapiens UnderwritingPro user group was instrumental in guiding many of the enhancements in this latest version and several Sapiens clients already committed to installing version 11,” comments David Pidgeon, head of Sapiens Life & Annuity business unit for North America. “We look forward to providing this new version to our existing clients and prospective customers looking for the most feature-rich and functionally superior underwriting system available.”

Sapiens UnderwritingPro for Life & Annuities possesses new functionality, including the following, as described by the vendor:

  • A new reinsurance interface to facilitate data transmission to the carrier’s reinsurers
  • Enhanced underwriter notes, for a simple and complete audit trail of the decisioning process
  • Annuity suitability, to ensure fiduciary responsibility
  • MIB coding improvements that speed up and ease the underwriters process
  • Information banner enhancements to present an at-a-glance user experience

Sapiens says it has also made numerous improvements to the user experience in version 11, including greater configurability and security advances.

Sapiens UnderwritingPro for Life & Annuities is a web-based solution for automated underwriting and new business case management that is part of Sapiens CoreSuite for Life & Annuities. The vendor markets it as speeding new business processes for insurance carriers and their channels, offering an intuitive user interface with critical updates and task assignments provided on a real-time dashboard. Sapiens UnderwritingPro enables underwriters and case managers to work on multiple cases simultaneously.

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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 [email protected] or (503) 936-2803.

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