HOLON, Israel, Dec. 16, 2020 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
and TruthMD LLC, which provides insurers and patients with data
analytics on healthcare providers, today announced a partnership
that will deliver insurers real-time, accurate provider data. The
partnership will enhance medical practice liability and workers'
compensation insurers' ability to identify desirable insureds,
assess risk, competitively price, underwrite and manage claims.
TruthMD's MedFax machine learning-based solution is based on
more than 15 years of accumulated historical data from physicians,
which the company has harnessed to deliver up-to-date visibility
into provider legitimacy, ad-hoc search reporting and alerts on
status changes. The Sapiens-TruthMD partnership will combine MedFax
along with Sapiens CoreSuite for Property & Casualty and
CoreSuite for Workers' Compensation platforms, enabling insurers to
seamlessly reference MedFax's rich data within highly efficient and
automated workflows. The partnership will strengthen both
companies' position in the market by offering medical practice
liability and workers' compensation insurers an enhanced solution
that meets their evolving digital needs.
"We are excited to begin this partnership with Sapiens as their
innovative, client-focused mission mirrors our own," said
Gemma Cunningham, Chief Executive
Officer and Founder of TruthMD. "Working side by side with the
Sapiens team provides us with an immediate outlet for our proven,
best-in-class medical data solutions, including sanctions
monitoring and provider data analytics, while aligning us with a
highly reputable, client-focused partner."
Long plagued by inaccurate and outdated physician data, the
healthcare industry has seen credentialing, onboarding,
underwriting and provider directories compromised as a result. With
more than 20,000 primary data sources collected in real time and
boasting more than 95 percent accuracy, TruthMD has filled this
void for numerous clients, helping identify invalid billings,
reduce loss and expense ratios and save an average of $716,000 for every $10
million in annual written medical liability insurance
premiums.
"The future of insurance will be driven by digital
transformation, and digital transformation will be driven by data,"
said Roni Al-Dor, President and CEO
Sapiens. "By providing insurers with ready access to rich,
reliable, real-time data, the Sapiens-TruthMD partnership will play
a vital role in helping medical practice liability and workers'
compensation insurers unlock the opportunities presented by the
evolving insurance landscape."
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.
About TruthMD
TruthMD has become the industry-leading independent source of
truth by providing the deepest, most accurate and up to date view
of healthcare providers, their training, sanctions, exclusions,
number of medical malpractice suits, conflicts of interest and
hundreds of other data elements. For more information:
www.truthmd.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