(Image source: HazardHub homepage.)
Sapiens International Corporation, (Holon, Israel), a global provider of software solutions for the insurance industry, has entered into an agreement to partner with HazardHub, a third-generation provider of property-level hazard risk databases. Hazard Hub’s scientists convert very large volumes of geospatial digital data into easy-to-understand and actionable risk assessments, according to a Sapiens statement.
HazardHub’s real-time risk data will be integrated into the Sapiens CoreSuite for Property & Casualty, which is composed of three fully integrated, yet standalone components: policy, billing and claims, to improve carriers’ underwriting efforts.
“P&C insurance carriers require real-time, property risk information and straight-through processing to shape more accurate underwriting decisions,” comments Bob Frady, CEO, HazardHub. “By offering the best hazard datasets available, along with our easy to understand ‘scores’ that give a quick yet comprehensive look at any property in the continental United States, our technology positively impacts P&C insurers’ underwriting capabilities in a proven and meaningful way.”
“Sapiens’ proven ability to apply smart technologies to the P&C underwriting process attracted us to this partnership and we look forward to helping Sapiens and its customers by supporting them in their innovation efforts,” Frady adds.
Immediate Access to Information Necessary for STP
“This is just the latest example of Sapiens’ commitment to continuously improve the functionality and reach of our products, as well as our efforts to better penetrate the North American P&C market,” comments Roni Al-Dor, president and CEO, Sapiens. “This partnership will equip Sapiens P&C customers in North America with immediate access to the information necessary to facilitate straight-through processing and an enhanced agent and customer experience.”