Sapiens Taps Albany Group to Provide Lloyd’s Market Compliance Automation

The solution provides analysis tools for a complete oversight, performance management, and third-party supply chain audit.

(Image credit: Dmitry Vechorko/Unsplash.) 

Sapiens International Corporation, (Holon, Israel), a global provider of software solutions for the insurance industry, has announced an agreement with Albany Group (London), a provider of risk and intelligence software, for an automated, compliance, risk management and regulatory platform that provides a comprehensive third-party supply chain management solution.

Stewart Griffiths, Co-Founder and CEO, Albany Group.

The partnership between the two companies simplifies complex compliance processes that are carried out across third-party platforms such as Lloyd’s, to efficiently meet strict industry and regulatory requirements at reduced costs and minimal risk, according to a Sapiens statement.

“Albany and Sapiens are a natural fit,” comments Stewart Griffiths, Co-Founder and CEO, Albany Group. “Combining our technologies brings real added value to our customers, simplifying software integration so that configurable compliance comes virtually at the touch of a button.”

Roni Al-Dor, President and CEO, Sapiens.

The solution provides analysis tools for a complete oversight, performance management, and third-party supply chain audit, ultimately saving time while maintaining consistency throughout the process, according to the Sapiens statement. The combined solution now fills a significant gap in the current policy administration and compliance services, with critical business data siloed. Tight integration improves automation, resulting in greater productivity and real-time accuracy gains, the vendor adds.

Greatest Efficiency Available on the Market

“We are extremely excited to partner with Albany Group to transform the user experience for regulatory and compliance solutions that span over multiple platforms into a simple, seamless and automated process,” comments Roni Al-Dor, President & CEO, Sapiens. “Our cohesive solution will accompany Lloyd’s market players from start to finish, with the greatest efficiency available on the market.”

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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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