HOLON, Israel, Jan. 6, 2021 /PRNewswire/ -- Sapiens Americas, a
wholly owned subsidiary of Sapiens International Corporation,
(NASDAQ: SPNS) (TASE: SPNS), a leading global provider of
software solutions for the insurance industry, and the Yukon
Workers' Compensation Health and Safety Board announced today that
Yukon has rolled out a newly
upgraded version of Sapiens ClaimsPro workers' compensation
platform. The new version includes a state-of-the art technology
stack and will enable Yukon to
further streamline end-to-end claims processing and reduce claims
processing expenses as well as settlement costs. The upgraded
version will also enable Yukon Workers' Compensation Health and
Safety Board to respond quickly to new business requirements that
are even more critical during the pandemic.
Yukon, funded solely by
regional employers, first partnered with Sapiens in 2006, and has
been using Sapiens ClaimsPro since then. Sapiens ClaimsPro workers'
compensation platform provides workers' compensation carriers with
one-click access to key features as required by regulation,
configurable claims rules, intelligent workflow and claims business
intelligence dashboards, which offer highly personalized, advanced
drill-down capabilities.
"The combined Yukon and Sapiens
team are very proud of this seamless upgrade and roll-out," said
Jackie Janowiak, Sapiens' senior
vice president for client services. "Our teams collaborated to
ensure that Yukon's end-user
community will fully benefit from the new technology stack
refresh."
"Both teams worked seamlessly to get this initiative completed
and successfully deployed," said Greg
Lane, Yukon's CIO.
"In fact, with the current restrictions on travel and on-site work,
we successfully deployed this project with our Sapiens team,
completely virtually. We are very pleased with the smooth roll-out
of this major accomplishment."
Sapiens ClaimsPro workers' compensation platform support
carriers to improve operational performance by reducing claim
inventories and supporting medical costs using advanced
outcome-based case management. Its real-time payment
processing allows automatic and split payments, offsets and
deductions, refunds, transfers and 1099 processing for financial
efficiency. The platform's rules-driven auto-adjudication and
decision support enables proactive case management that reduce
claims time to settle and claims closure.
"With the additional innovative features and technologies of
this new release, we have greatly enhanced the user experience,
expect to gain additional efficiencies and eliminated significant
technical debt," said Greg Lane,
Yukon's CIO.
While digital transformation began reshaping insurance well
before the pandemic, COVID-19 has underscored the urgency of
accelerated innovation in the industry. Greater reliance on digital
technology to support remote work, distance learning and online
shopping and entertainment have only increased consumer
expectations for more digitization in insurance. A recent survey of
workers' compensation professionals conducted by Lightico and
Sapiens found that 75% of workers' comp carriers are "urgently
looking" or "actively looking" to digitize, with more and more
seeing enhanced digital capabilities as essential to attaining a
competitive edge in the post-pandemic 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.
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