HOLON, Israel, April 1, 2020 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that Preferred Physicians Medical Risk
Retention Group (PPM), a company providing anesthesia-focused
medical professional liability (MPL) to its customers, went live
with two offerings: Sapiens CoreSuite for Property &
Casualty and Sapiens IntelligencePro were both deployed
over the cloud.
Sapiens CoreSuite for Property & Casualty is comprised of
three fully integrated, core components that are modular for
policy, billing and claims. Sapiens IntelligencePro is a
comprehensive business intelligence solution with over 100
pre-configured reports, dashboards, scorecards, ad hoc reporting
and hundreds of analytics.
PPM selected Sapiens CoreSuite as part of their technology
and business transformation strategy that will enable them to
support their growth strategy and next-generation customers.
Sapiens CoreSuite was chosen for its ability to support PPM's
policy, quote and claims needs, as well as workflow and increased
process automation and efficiency, reporting and business
intelligence requirements. The suite's extensive functionality and
its flexibility to support self-sufficiently configuration for
PPM's complex coverage requirements were also key factors during
the selection process.
"We are thrilled to have reached go-live with Sapiens," said
Deanna Olson, CFO of PPM. "Our
business needs are complex and the flexibility of Sapiens CoreSuite
for P&C with its integration to their InteligencePro, along
with the partnership our teams built, is what made this
implementation a success. Our goal from this transformation program
was to retire our legacy system. Not only was that accomplished,
but we ushered in a new era of modern and digital IT systems that
will help maintain and improve our competitive position."
The Sapiens CoreSuite for Property & Casualty is enabling
PPM to:
- Configure new processes and improve policy and claims
efficiencies
- Drive innovative ideas and excellent service to customers
- Minimize short- and long-term maintenance costs over the life
of the system
"We congratulate PPM on their successful implementation," said
Roni Al-Dor, Sapiens president and
CEO. "We could have not achieved this milestone within such a tight
schedule without the close collaboration and partnership that was
established between our teams. We see this as the beginning of a
long partnership and we look forward to helping ensure PPM's
continued success."
About Preferred Physicians Medical
Established in 1987, Preferred Physicians Medical (PPM)
pioneered the concept of a specialty-specific insurance company.
PPM is owned entirely by its policyholder/members. In 2017, PPM
entered a new strategic partnership with NORCAL Mutual (NORCAL).
NORCAL serves as PPM's exclusive reinsurance provider. In addition,
PPM's former holding company, PPM Services, Inc., was acquired by
NORCAL and through this process will provide PPM with additional
administrative, management and insurance resources. PPM is national
in scope, insuring anesthesia practices in over 40 states with
premiums approaching $40 million. For
more information: www.ppmrrg.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 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 500
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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IL: +972 548 143 742
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SOURCE Sapiens International Corporation