Sapiens Launches Rules-based Billing Solution in North America for Property & Casualty Insurers
New Sapiens INSIGHT™ for Billing rules-based insurance solution recognized for its unique benefits and ability to allow for rapid adaptability.
November 14, 2006
Kissimmee, F.L. – November 14, 2006 – Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a global provider of insurance technology solutions, announced today the North American release of Sapiens INSIGHT™ for Billing for Property & Casualty insurers at the 2006 ISOTech Insurance Technology Conference in Kissimmee, Florida.
The billing module, part of the Sapiens INSIGHT™ suite of insurance solutions, is a fully functional and flexible billing and collections solution. Developed using the company's pioneering eMerge™ business rules technology, it is designed to meet each carrier’s requirements in an expedited implementation timeframe, directly impacting the bottom line. A highly configurable and flexible solution, Sapiens INSIGHT™ for Billing will support all lines of P&C business, and is designed to include core functionality and provide flexibility across the following areas: pay plan development, collections and allocations, billing production along with arrears management and reimbursements. Sapiens INSIGHT™ for Billing is built to integrate and automate insurance processes using underlying rules technology, providing the ability to adapt quickly to changing business conditions, deploy new billing related initiatives easily and meet future billing needs.
Already being implemented for its first two clients, this state-of-the-art, web-enabled solution is designed to enhance rapid implementation and support for billing and collections, while at the same time maintaining transaction control, accountability for results and assurance of process consistency and continuity. In addition, business users can dynamically alter the behavior of the solution in response to market changes, corporate and stakeholder needs. Changes in the business rules can cause changes to the application on an immediate and real-time basis.
As part of Sapiens’ commitment to excellence in the practices and needs of billing solutions, it recently welcomed Mr. Wayne Shockley as Director of Billing for Sapiens Americas. With over 25 years of insurance background and experience, Mr. Shockley will continue to further develop the INSIGHT for Billing solution into the leading next generation Billing solution. Having managed 17 major billing system implementations and projects, Mr. Shockley brings a vast knowledge of the development, implementation and support of billing solutions.
"We are proud to introduce Sapiens INSIGHT™ for Billing to the North American insurance market” said Mr. Shockley. “Our solution gives insurance companies the power to adapt and the speed to do it quickly for this important customer touch point. It is another example of our Business Change, Made Simple philosophy.”
About Sapiens INSIGHT™ for Billing
The Sapiens INSIGHT™ for Billing module is a fully functional and flexible billing & collections solution for the Property & Casualty insurance industry designed to meet each carrier’s requirements in an expedited implementation time frame. The billing module has the capability to set up the billing account and associated payment plan details while supporting the on-going transaction processing for the account. This functionally rich product supports the impact of all premium related transactions and reconciliation of all billing and collection activities. The Sapiens INSIGHT™ for Billing module is a highly flexible solution that offers versatile billing plans, and payment methods. The solution supports carrier specific requirements across the system and helps improve satisfaction during this important customer touch point.
About Sapiens International
Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a member of the Formula Group (NASDAQ: FORTY and TASE: FORT), is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations to adapt quickly to change. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the UK and Europe, the Middle-East and Asia Pacific, and has partnerships with market leaders such as IBM and EDS. Sapiens' clients include AXA, Allianz Group, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial Group, ING, Menora and Occidental Fire & Casualty among others.
For more information about Sapiens, please visit http://www.sapiens.com.
Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the Company's accounting policies and other risk factors detailed in the Company's SEC filings.
FOR ADDITIONAL INFORMATION
Stephanie Ladd
Sapiens Americas
+1 919-405-1507
stephanie.h@sapiens.com
Roni Al-Dor
Chief Executive Officer
Sapiens International
Tel: +972-8-938-2934
E-mail: IR.Sapiens@sapiens.com
 
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