Overview
Sapiens CoreSuite for Property & Casualty (formerly called Adaptik and StoneRiver Stream Suite) is comprised of three fully integrated, core components that can also be deployed stand-alone:
- Sapiens PolicyPro for Property & Casualty (formally called Adaptik Policy) is used by agents, underwriters and customers to quote, issue and administer policies. It includes integration with third-party systems and provides comprehensive policy lifecycle support for all P&C lines of business.
- Sapiens BillingPro for Property & Casualty (formally called Adaptik Billing) enables P&C carriers to integrate with third-party systems and data repositories, benefit from best-in-class usability and automate the entire billing lifecycle. These offerings improve policy administration and billing for commercial, personal and specialty lines of business.
- Sapiens ClaimsPro for Property & Casualty (formally called StoneRiver Stream Claims) is an underlying platform that prepares P&C carriers to adapt to new business requirements. It offers intelligent, rules-driven workflow with effective claim assignment, ensuring faster cycle times, for lower expenses and settlement costs.
CoreSuite is pre-integrated with additional components that can be selected, including business intelligence, reinsurance and portal solutions (customer and agent), as well as various interfaces.
Key Features
- Ability to Handle Complexity - Sapiens PolicyPro delivers a unique blend of flexibility, functionality and intelligence that empowers carriers to turn highly complex situations into opportunities for sustainable growth. By enabling build-out and changes via simple configuration, rather than coding, PolicyPro allows for the kind of agility necessary to actively manage and market highly profitable products in areas like inland marine, energy and specialty spaces
- Streamlined, Logical UX Creation - PolicyPro users benefit from simple-to-use – but still high-powered – configuration utilities for both the back- and front-ends of their systems. That means users, including business users, can start by crafting new products in a logical fashion, then creating end-user pages and interfaces with a WYSIWYG drag-and-drop builder
- Increased Operational Accuracy and Efficiency - BillingPro offers the ability to track all billing items at the detail level and to more accurately manage premiums, commissions, taxes, discounts, surcharges and fees
- Superior User Experience for Agents and Customers The accounting dashboard in BillingPro provides the ability to drill-down to important details for all billing activities, preventing mistakes and misunderstandings
- Improved Decision-Making - This can be accomplished across the lifecycle of a claim with ClaimsPro, via a combination of rules and workflows to automate decision-making and trigger tasks to the correct decision-maker when needed. Examples include reducing overall exposures from coverage verification/limit checking, fraudulent behaviors of claimants/vendors, or keeping ahead of regulatory requirements.
- Increased Agility and Flexibility - Policyholder and agent expectations are quickly evolving and the tilt to digital has achieved maximum velocity. ClaimsPro empowers you to react quickly to such forces. Anticipating the “change tsunami” now underway in the P&C market, Sapiens invested in an architectural framework and serviceoriented architecture, and uses a highly configurable approach featuring meta-data and rules.
Key Benefits
- A modular, automated, highly customizable solution offers a single platform for personal, commercial and specialty lines of business (LoBs). This increases organizational efficiency by reducing manual effort, generates competitive advantages and saves costs
- 360-degree, customer-centric solution increases accuracy and introduces opportunities for personalized marketing, expanding revenue streams
- Digital, omni-channel access offers touch-points across all devices, increasing customer engagement and satisfaction
