Sapiens DianaSuite

Sapiens DianaSuite for Property & Casualty (P&C) is a globally recognized P&C/general insurance solution that prioritizes the customer’s and agent's pivotal roles in the insurance value chain. It empowers insurers to gain in-depth insights into their customers’ needs, and personalizes services to meet their unique requirements. DianaSuite comprehensively and modularly supports policy, billing, and claims management of P&C insurance, including personal, commercial, and specialty lines of business (LoBs), as well as funeral, health and life protection. The solution is currently being enhanced also to manage pension plans to complement retirement plans.

DianaSuite offers a 360-degree view of the customer in a low-code solution that adheres to Sapiens’ cloud-first philosophy. The solution has been tested in multiple production environments with significant turnover. The flexibility of DianaSuite allows constant adaptation to financial and regulatory changes. Its powerful integration layer makes it easy to interface with third parties.

Sapiens DianaSuite is a robust, modular, web-based solution developed from the ground up to streamline insurance processes. It opens doors for insurers to provide virtually any product within the P&C/general insurance sector. This is achieved through dynamic, customizable, parameter-driven tools and wizards that empower self-sufficiency and adaptability. The solution comprehensively supports both front and backoffice insurance-management processes, including insurance product design, policy administration, underwriting, billing, agent management, claim handling, and more, all facilitated by workflow, CRM, digital tools, analytics capabilities, and seamless ecosystem integration on a modern cloud infrastructure.

The following are the main DianaSuite functional modules:

• Policy - designed for policy and underwriting management, the Policy module covers the entire lifecycle of an insurance contract, from quotation and rating to issuance, with full endorsement capabilities and management of expirations and cancellations. The module offers a holistic solution designed to cater to carriers, agents, brokers, Managing General Agents (MGAs), bancassurance writers, and a variety of other insurance organizations. It also features a product workshop that is a valuable tool for launching new products and responding to customer needs in very short timeframes while improving service quality. This module provides a set of user-friendly tools and configuration wizards for business users and does not require IT knowledge. The screen layout and workflows specific to each LOB include all the data needed for rating, underwriting and document-production processes, and are easily adapted through configuration, without the need to modify code.
• Billing - this module manages billing, collections, agent commissions, and technical accounting, allowing P&C carriers, MGAs, and brokers to effectively manage premium services, taxes, fees, disbursements, and commission-related processes. It supports both direct and agency billing, featuring customizable functionalities that foster business self-sufficiency, and expertly handles commission calculations, tracking, and timely disbursements. The DianaSuite Billing module also integrates robust technical-accounting elements offering payment options and plans and supporting dunning procedures while seamlessly integrating with a range of payment gateways and general-ledger solutions.
• Claims - streamlined solution for end-to-end claims processing across all P&C lines. Featuring rich claims dashboards with drill-down capabilities, the module optimizes the claims processing providing easy access to essential claims information, and tracking information on claims handlers' activity, which is key to the operational efficiency of the department. It includes a Claims Configuration Workshops that allows control and validation of the activity of processors and third parties involved, guaranteeing the reduction of errors in the management of claims. the DianaSuite Claims module has a modern, user-friendly interface that makes it simple and easy for users to navigate. What sets it apart is its remarkable ability to comprehensively manage the entire claims process from start to finish, including support for multiple claimants and a different range of damaged objects, such as vehicles, property, individuals, and third parties. It supports the management of claims involving different providers by supplying the necessary information for claims' followup.

DianaSuite covers the entire policy-management cycle. The continuous developments by our development and product teams and our customers’ loyalty have made the solution one of the simplest and most intuitive cores on the market. In addition, Sapiens provides an expert team with functional and technical knowledge and a solid implementation methodology that guarantee compliance with deadlines and cost reductions. We have market veterans with over 50 years of experience and more than 30 core implementation projects in Spain.

The following are some of the DianaSuite’s salient features:

• Speed and efficiency in the handling of FNOL claims. This ranges from receiving the client's call notifying of the claim, through reducing waiting times and providing excellent service, to obtaining the best possible resolution.
• Quick access to essential claims information to facilitate rapid response and expedited processing.
• Cloud ready - DianaSuite leverages the power of the cloud to take advantage of the latest in data security, compliance and system resilience. It provides always-on cloud delivered software, lowest-risk deployment with data security, compliance and protection; an open architecture in hybrid AWS and Azure environments; and API orchestration that connects multiple systems into a single, valuable ecosystem, powering third-party applications at speed.
• Open architecture - a layered architecture separates the common infrastructure from country-specific elements and customized functions. The core functionality of the solution is multilingual and can be adapted to different regulations. DianaSuite is easily adaptable to manage any type of insurance through a powerful, highly configurable product workshop, templates and configuration wizards.
• Automation of operations - once a claim report is received, DianaSuite provides different tools to improve all operations, for example, assigning a claim handler or tasks that have to be fulfilled, indicating whether additional information/documentation is required, and informing the steps that will be taken to manage the claim.
• Intelligence embedded - converts information and data into actionable insights with a system of records that powers business growth. Enables to tightly align data across the insurance value chain to automate low-value tasks while maximizing business intelligence with decision-ready data.
• Comprehensive risk management for policyholders, including aspects such as capital adequacy and solvency, risk identification and measurement, and management of policies at risk. The underwriting processes can be triggered to determine the appropriate premium and ensure that the insurance company can cover the costs in the event of a claim.
• Rich ecosystem – DianaSuite takes data from multiple sources and preintegrates with critical components across the value chain, including an ever-growing network of InsureTech solutions and services.
• Digital transformation - fully personalized experience, a 360-degree view of each customer, and analysis of big data are at the core of the insurance sector’s journey to digitization. DianaSuite facilitates efficient digitalization of insurance operations, supporting multichannel distribution, digital journeys in integrated portals, and ensuring that agents and customers can access real-time, accurate data at any time and from anywhere.

Insurance organizations using DianaSuite are well positioned to lead in the marketplace, benefiting from the ability to manage operations, reduce costs, and enhance customer service and experience. Companies can swiftly deploy innovative insurance products, update/adjust existing ones, and meet market-entry timelines through various distribution channels.

• Product agility - rapid time to market of new products. A low-code product and pricing configuration engine reduce delays and the complexity of new product launches by 75%. Insurers can design, create and publish products across their ecosystem rapidly and flexibility for both direct to consumer and agent/broker distribution.
• Highly configurable and based on industry best practices, Sapiens DianaSuite's preconfigured content and service libraries enable firms to roll out new, innovative products quickly and consistently.
• Reduced TCO with operational excellence - out-of-the-box yet extendable business functionality, aggregation, simulation capabilities, and analytics combined with workflows result in increased productivity that lowers TCO.
• Self-sufficiency – insurers can take ownership of change and offer virtually any product in the P&C/general insurance market through dynamic, customizable, parameter-driven tools and wizards geared towards self-sufficiency.
• Embedded intelligence and analytics – integrated with Sapiens DataSuite, the solution offers a wide range of data-management, business, and analytics capabilities. Proper analysis of the large amounts of data insurers accumulate helps minimize risks, reduce claims costs, and optimize reserves.
• Onmichannel support - DianaSuite is an integrated digital solution capable of managing all channels including broker, agent and direct to consumer, enabling insurers to be present wherever their customers and brokers are 24/7, whether online, on smartphone or embedded in digital products. It is designed and built to enhance customer engagement and user experience.
• Compliance with regulations - DianaSuite provides the tools, level of data and security that enable insurers to support the latest regulatory requirements for GDPR, IDD, IFRS17 and more. The solution’s roadmap and user groups enable Sapiens to address regulatory changes prior to the deadlines and design solutions that meet our clients' needs.
• Strong user community - join a business (and technical) user-based community that shares trends, innovations, approaches, and more to determine the future of Sapiens' solutions.