(Image source: Promotional video for Sapiens IDIT.)
Sapiens International Corporation (Holon, Israel), a global provider of software solutions for the insurance industry, has announced the general availability of the Sapiens IDIT 14.1 policy administration suite. Among enhancements to Sapiens IDIT 14.1 is an enhanced workflow engine that utilizes internal, pre-integrated services, according to the vendor.
As a result of the addition of the new workflow engine, a consumer, agent or back-office user can now more easily comply with regulations requiring a signed customer document—for example, flagging and escalating a policy lacking a signature and automatically cancelling if a signature isn’t received within a defined period of time, according to the vendor.
Sapiens has also included in version 14.1 Elasticsearch, a distributed search engine that can perform structured and unstructured searches. With Elasticsearch, insurance carrier users should enjoy a faster and better experience through shortening of IT and business processes, and the ability to quickly leverage valuable data across modules and processes for a 360-degree view of customers, agents and operations.
Other key additions to Sapiens IDIT described in the vendor’s announcement include the following:
- A pre-integrated, full digital suite with customer and agent portals, business intelligence and more
- Embedded DevOps for higher quality QA and deployment
- A managed services offering via the cloud
- Improved support for group insurance to better serve employers and employees
- A configurable, multi-level release process for payment orders
- Extended support for late payment fees, including improved fee and interest calculations that help insurers more easily comply with relevant regulations
- Enhanced regulatory support, including capabilities to assist European insurers in complying with the General Data Protection Regulation (GDPR)
Fast Time-to-Value in Execution of Digital Strategy
“The enhanced Sapiens IDIT policy administration suite was designed to meet rapidly changing industry needs, provide insurers and their customers with an improved experience and improve operational efficiency,” comments Lilia Vaserman, senior VP of product management in in Sapiens’ property and casualty division. “Sapiens IDIT’s pre-integration with the Sapiens Digital Suite will also help insurers achieve fast time to value when executing digital strategies.”
“Sapiens employees have once again demonstrated their unwavering commitment to continually strengthen one of our core offerings,” comments Roni Al-Dor, president and CEO, Sapiens. “Sapiens IDIT 14.1 incorporates customer feedback and new features designed to take insurers, and ultimately their consumers, to new heights.”