Encova boosts its workers' compensation processing power
with onboarding of new technologies
RALEIGH, N.C., May 9, 2022 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, has announced that Encova Insurance has upgraded its
Sapiens CoreSuite for Workers' Compensation platform, to continue
to leverage the solution's future-proof architecture while
capturing its newest features and functions.
Encova is represented by more than 2,000 independent agencies
with staff who live and work in local communities throughout 28
states and the District of Columbia. The upgrade protects
their IT environment against near- and long-term obsoletion by
enabling Encova to accommodate emerging and evolving technologies
on an ongoing basis.
Improvements and advancements to the Sapiens CoreSuite for
Workers' Compensation platform ensure Encova's architectural stack
stays open, current and flexible, in compliance with industry and
security standards. The open architecture facilitates communication
and transfer of data within Encova's core applications, which
significantly increases automation capabilities, allows for faster
adoption of digital technologies and improves the user experience
for everyone involved in the workers' compensation claims
process.
"The upgrade to our core workers' compensation solutions
empowers us to create and maintain custom validation and
event-triggering rules in a simplified, graphical manner, which
means we can quickly accommodate business and regulatory changes
without the need for coding," said Casey
Jordan, vice president of application development for
Encova. "We have partnered with Sapiens for more than a decade, and
we continue to leverage the specific expertise they bring to every
project."
Encova initially deployed Sapiens CoreSuite for Workers'
Compensation in 2009 for its robust, out-of-the-box capabilities
and functionality specific to the workers' compensation line of
business. This is especially critical for Encova, that writes
business in multiple states, each with its own set of regulatory
requirements. Sapiens' open-architecture design enables Encova to
roll out new states quickly through no-code configuration,
empowering faster and easier upgrades and a significant reduction
in time and cost.
Jamie Yoder, Sapiens North
America President & General Manager, explains how Sapiens and
Encova work together to drive successful results for both
companies. "Encova and Sapiens have a strong partnership dating
back many years," Yoder said. "Our teams work as one and continue
to drive innovation for Encova's workers' compensation insurance
offering. Sapiens CoreSuite for Workers' Compensation forms a
flexible and agile platform upon which Encova's business team
continues to drive excellence by way of supporting their
constituents."
About Encova Insurance
A super-regional carrier ranked in the top 20 mutual insurance
companies in the United States,
Encova includes nearly 1,200 associates writing in 28 states and
the District of Columbia, premiums
in excess of $1 billion, a surplus in
excess of $1.96 billion and assets in
excess of $4.8 billion. The group
markets insurance solutions through more than 2,000 independent
agencies in the Midwest, Northeast and South.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS)
empowers the financial sector, with a focus on insurance, to
transform and become digital, innovative, and agile. Backed by 40
years of industry expertise, Sapiens offers a complete insurance
platform, with pre-integrated, low-code solutions and a cloud-first
approach that accelerates customers' digital transformation.
Serving over 600 customers in 30 countries, Sapiens offers insurers
across property and casualty, workers' compensation and life
markets the most comprehensive set of solutions, from core to
complementary, including Reinsurance, Financial & Compliance,
Data & Analytics, Digital, and Decision Management. For more
information, visit www.sapiens.com or follow us
on LinkedIn.
Media Contact
Shay
Assaraf
Chief of Marketing, Sapiens
Shay.assaraf@sapiens.com
Investor's Contact
Kimberly
Rogers
Managing Director, Hayden IR
+1 541-904-5075
kim@HaydenIR.com
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