Integrated offering will empower insurers to achieve
immediate total electronic adoption, ensuring payment efficiency
across modalities with minimal IT requirements
HOLON, Israel, March 17, 2021 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
and ECHO Health, Inc., which provides digital payment processing
for healthcare, workers' compensation, property and casualty,
and other specialty insurers, today announced a partnership that
will provide carriers with a comprehensive, digital payment
solution through a single, secure, streamlined portal.
Founded in 1997 and now processing more than $1 billion in payments every week, ECHO
specializes in removing barriers to digitization and immediately
connects clients to a network of more than one million
electronic-ready insurance vendors and providers – the largest in
the nation.
Together with Sapiens' CoreSuite for Property & Casualty and
CoreSuite for Workers' Compensation solutions, ECHO's payment
processing solution will enable carriers to eliminate cumbersome
manual payment processes, which are cited by 54 percent of large
businesses and 65 percent of small businesses as among their
leading B2B payment challenges.
"Sapiens shares our commitment to leading the industry with
diverse digital solutions and dependable customer service," said
Tom Dean, President,
ECHO. "Together, working as one team, we will unlock the full
potential of integrated payment processing for our clients on the
best path for success in the new digital business landscape."
The joint offering will allow clients to reconcile payments
across multiple modalities, with minimal IT requirements and
maximum-security protection. All client financial data will be
streamlined into a single access point, making for more efficient
and profitable decision-making.
"Sapiens and ECHO are partnering to address the many payment
challenges clients experience today. By integrating the ECHO
solution within Sapiens Worker's Compensation and P&C
solutions, clients can easily implement digital payment processes,
saving money and resource time, and gaining greater insight on
payments," said Roni Al-Dor,
President and CEO Sapiens.
About ECHO
ECHO Health Inc. (ECHO) is the leading provider of electronic
healthcare payment solutions. ECHO processes 200 million claims and
pays more than $60 billion annually
to providers and claimants from industry-leading
payers. Founded in 1997, ECHO is a privately held company
located in Westlake, Ohio. For more information, please visit
www.echohealthinc.com or call 440-835-3511, ext. 118.
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 and
casualty, life, pension and annuity,
reinsurance, financial and compliance, workers' compensation
and financial markets. With more than 35 years of experience
delivering to over 600 organizations globally, Sapiens has a proven
ability to satisfy customers' core, data and digital requirements.
For more information: www.sapiens.com.
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Media Contact:
Alex
Zukerman
CMO and Chief of Strategy, Sapiens
+972 546 724 910
alex.zukerman@sapiens.com