Sapiens CoreSuite is a comprehensive, cloud-based insurance software solution designed to support the core operations of insurance companies across life, annuity, property & casualty (P&C), and health insurance sectors. CoreSuite integrates policy administration, billing, and claims management into a single, modular platform that enhances operational efficiency, improves customer service, and accelerates time to market for new products. Known for its flexibility, scalability, and rich functionality, Sapiens CoreSuite empowers insurers to modernize their technology stack, streamline processes, and drive digital transformation.

Key Features:

1. Integrated Core System: Sapiens CoreSuite combines three essential components—Policy, Billing, and Claims—into one cohesive system that supports the full insurance lifecycle. This unified approach simplifies operations, reduces administrative overhead, and provides a holistic view of policyholder data.

   • Policy Administration: CoreSuite’s Policy module supports the complete policy lifecycle, including product definition, underwriting, quoting, issuance, renewals, and endorsements. Its advanced rule engine and flexible product configuration tools enable insurers to quickly bring new products to market and tailor offerings to specific customer needs.

   • Billing: The Billing module automates invoicing, collections, disbursements, and payment processing, supporting a wide range of billing plans and methods. It enhances financial management, improves cash flow, and provides a seamless billing experience for policyholders.

   • Claims Management: The Claims module streamlines claims processing, from first notice of loss (FNOL) through settlement. It provides adjusters with advanced tools for claims assessment, fraud detection, and automated workflows that reduce cycle times and improve customer satisfaction.

2. Cloud-Based Deployment: Sapiens CoreSuite is available on a cloud-based platform, offering insurers a secure, scalable, and always up-to-date environment. The cloud deployment reduces infrastructure costs, accelerates implementation, and ensures access to the latest features and updates.

3. Low-Code Configuration and Product Design: The platform features a low-code/no-code configuration environment that allows business users to create and modify products, adjust workflows, and update business rules without deep technical expertise. This agility enables insurers to respond quickly to market changes and regulatory requirements.

4. Data and Analytics: CoreSuite includes built-in analytics and reporting tools that provide actionable insights into business performance, customer behavior, and operational efficiency. Advanced data visualization and predictive analytics help insurers make data-driven decisions and optimize underwriting, pricing, and claims management.

5. Digital Engagement and Self-Service: Sapiens CoreSuite offers digital engagement tools, including self-service portals and mobile apps for policyholders, agents, and brokers. These tools enhance customer interactions by enabling online policy management, claims filing, and payment processing, improving the overall customer experience.

6. AI and Machine Learning Integration: The platform integrates AI and machine learning capabilities to automate decision-making, detect fraud, and improve risk assessment. These technologies enhance underwriting accuracy, reduce operational costs, and increase claims handling efficiency.

7. Regulatory Compliance and Security: CoreSuite provides compliance management tools that help insurers adhere to industry regulations, including automated updates for regulatory changes, reporting capabilities, and secure data handling to protect customer information.

8. Robust Integration and Open APIs: Sapiens CoreSuite supports seamless integration with third-party applications, data providers, and legacy systems through open APIs and web services. This flexibility enables insurers to expand functionality, enhance workflows, and build a connected ecosystem.

9. Multi-Language and Multi-Currency Support: The platform is designed to support global insurers with multi-language and multi-currency capabilities, making it suitable for companies operating in multiple regions and serving diverse markets.

10. User-Friendly Interface: Sapiens CoreSuite features a modern, intuitive user interface that simplifies navigation and enhances the user experience for underwriters, adjusters, agents, and policyholders.

Benefits:

• Operational Efficiency: By automating core processes and integrating workflows, Sapiens CoreSuite reduces manual work, minimizes errors, and improves overall productivity.

• Faster Time to Market: Low-code configuration tools and flexible product design capabilities allow insurers to quickly develop and launch new products, adapting to market demands and competitive pressures.

• Enhanced Customer Experience: Digital engagement and self-service options empower policyholders and agents, providing convenient access to policy information, claims status, and billing.

• Scalable Cloud Environment: The cloud-based model provides insurers with a secure, scalable solution that grows with their business, reduces IT maintenance, and keeps systems current with the latest advancements.

Target Users:

Sapiens CoreSuite is ideal for insurers across life, annuity, property & casualty, and health sectors looking to modernize their core systems, improve operational efficiency, and drive digital transformation. It caters to insurance carriers of all sizes, from regional players to global insurers, seeking a comprehensive and flexible platform to enhance their core operations.