HOLON, Israel, Sept. 24, 2020 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
announced today it has partnered with GreenRoad Technologies, a
recognized leader in advanced and predictive driving risk analysis
for the automotive industry. The partnership will enable automotive
insurance carriers to secure a new level of risk assessment data
about their drivers on a dynamic basis, making it possible for them
to provide more competitive, personalized driver insurance
premiums, customer-centric services and proactive risk-prevention
programs.
GreenRoad Technologies mobile app-based solution provides
unrivalled analysis of driver behavior, detecting and ranking more
than 150 different complex driving maneuvers. This level of
assessment empowers drivers to improve their own behavior while
enabling insurers to make smart, data-driven policy decisions and
to provide policy holders with the personalized service they
demand. Armed with this data, insurers will be able to offer
enhanced services such as PHYD (Pay How You Drive) and MHYD (Manage
How You Drive) products, confidently providing discounted premiums
and differentiated risk levels based on accurate, individualized
criteria.
"With Tesla and Amazon entering the car insurance
market, now is the time for existing insurers to embrace innovation
and harness the latest digital and AI-based technology to
drastically enhance the services they provide," said Roni Al-Dor, Sapiens President and CEO.
"Sapiens is thrilled to partner with GreenRoad Technologies.
There is a natural synergy between Sapiens expertise in equipping
the insurance industry with the latest software, and GreenRoad's
cutting-edge solutions. Through our combined efforts we seek to
enhance the services and products insurers operating in the
automotive industry are able to provide, while simultaneously
boosting driver safety."
GreenRoad's technology utilizes real-time coaching, gamification
and scoring mechanisms through an easy-to-use mobile app to
increase client engagement and maximize driver safety. Use of
GreenRoad's platform leads to dramatic improvements in driver
safety and a significant reduction of fleet risk and expenses with
up to 50 percent reduction in preventable collisions and up to 80
percent reduction in accident related costs. The solution also
prompts more efficient driving styles, resulting in a reduction in
fuel consumption and carbon emissions.
"In an increasingly competitive insurance landscape, we are
excited to partner with Sapiens to bring disruptive innovation to
the market, providing insurers with the means to profitably
personalize their offerings and to take a proactive approach to
risk reduction," said GreenRoad's CEO, David Ripstein. "The data collected by our joint
offering will support dynamic premiums for drivers, positioning
insurers ideally to compete and retain their customers. Moreover,
the ease of onboarding our platform with Sapiens technology will go
a long way toward enabling the digital transformation of the
automotive insurance field -- a revolution that is needed today
more than ever. We look forward to working with Sapiens to
dramatically enhance the insurance sector, saving lives and
reducing expenses as we change driver behavior."
About GreenRoad Technologies
GreenRoad Technologies is a leading provider of advanced driver
safety and risk reduction platforms used by hundreds of thousands
of drivers and commercial fleets throughout the world. For drivers,
GreenRoad provides real-time coaching, monitoring and engagement
tools that dramatically reduce their risk levels. For
insurers, GreenRoad's unique data sets, dashboards and analytics
bring a new level of accuracy to the underwriting process,
supporting the provision of dynamic-premium and personalized
insurance products. https://greenroad.com/
About Sapiens
Sapiens International Corporation empowers insurers to succeed
in an evolving industry. The company offers digital software
platforms, solutions and services for the property & casualty,
life, pension & annuity, reinsurance, financial &
compliance, workers' compensation and financial markets. With
more than 35 years of experience delivering to over 500
organizations globally, Sapiens has a proven ability to satisfy
customers' core, data and digital requirements. For more
information: www.sapiens.com.
Media Contact
Alex
Zukerman
CMO and Chief of Strategy, Sapiens
+972 546 724 910
alex.zukerman@sapiens.com
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SOURCE Sapiens International Corporation