Fintech PR
Sapiens Decision Launches Solution to Boost Decision Underwriting Efficiency and Profitability for P&C
Sapiens Decision Underwriting Accelerator elevates straight-through processing and reduces reliance on IT by up to 90%
ROCHELLE PARK, N.J., Oct. 15, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the release of Sapiens Decision Underwriting Accelerator, a cutting-edge solution designed to enhance underwriting efficiency and significantly improve straight-through processing (STP) for Property and Casualty (P&C) insurers. This innovative decisioning solution addresses key industry challenges by driving a substantial increase in STP rates, enabling insurers to optimize their underwriting processes and improve overall profitability.
Sapiens Decision Underwriting Accelerator addresses the needs of P&C insurers to streamline their underwriting processes while maintaining speed and accuracy. Sapiens’ new solution offers significant improvement in STP for high-volume underwriting cases, both for renewals and new policies. By automating complex decision-making tasks and integrating seamlessly with AI and machine learning models, the solution ensures comprehensive risk assessment, accelerating time-to-market and improving cycle times.
Sapiens Underwriting Accelerator empowers business analysts – without the need for coding expertise – to independently author, update, and test decision logic in real-time. This reduces reliance on IT resources by up to 90%, enabling quicker adjustments and optimizing operational efficiency. The solution also provides contextual, plain-language messages that eliminate the need for users to decipher cryptic codes, significantly improving the customer and agent experience.
Underwriting Accelerator also features pre-built decision flows, designed to handle the complexity of state, line of business, and company often found in regional and national carriers. These pre-configured models allow for faster deployment, reducing implementation time and costs for insurers. The solution also extracts decision logic from legacy systems to make embedded logic easy to access, update, and share, enabling insurers to avoid costly infrastructure overhauls while improving their existing underwriting processes.
“Sapiens’ new release empowers the industry to achieve the highest levels of straight-through processing and underwriting efficiency, significantly improving profitability,” said Ilan Buganim, Chief Technology and Information Officer at Sapiens. “Sapiens Decision Underwriting Accelerator leverages no-code tools, pre-configured decision models, and a high-performance engine to enable insurers to make substantial improvements in their combined ratio within a matter of months. Looking ahead, Sapiens plans to expand its decisioning solutions with pre-packaged offerings for the mortgage industry, addressing similar underwriting challenges.”
Sapiens Decision provides end-to-end decision management capabilities from decision logic extraction from legacy code to decision modeling with no code tools, and deployment through Decision-as-a-Service. Sapiens Decision offers a technology-independent solution to fit any architecture, allowing organizations to reuse their existing infrastructure and governance models.
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS) is a global leader in intelligent insurance software solutions. With Sapiens’ robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. We help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers’ compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative SaaS offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success.
For more information visit https://sapiens.com or follow us on LinkedIn.
Investor and Media Contact
Yaffa Cohen-Ifrah
Sapiens Chief Marketing Officer and Head of Investor Relations
Email: [email protected]
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic, and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
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Fintech PR
Manulife and World Economic Forum Announce Winners in ‘Prospering in Longevity Challenge’ to Drive Health and Financial Resiliency
Manulife gives half a million dollars in prize money to challenge winners to help accelerate their mission to enable people to live healthier, more prosperous lives
BOSTON, Oct. 16, 2024 /PRNewswire/ — Manulife today announced the winners of the Prospering in Longevity Challenge, through UpLink, the World Economic Forum’s open innovation platform, and the Forum’s Centre for Financial and Monetary Systems. Together, Manulife and the Forum have chosen ten winning global start-ups that have innovative approaches to preventative health care and strengthening financial wellness over longer lives.
The winners of the Prospering in Longevity Challenge are:
- Addition Wealth, a holistic financial wellness platform that partners with companies to offer customized financial wellness solutions
- Boldin (formerly NewRetirement), a dynamic platform designed to revolutionize retirement planning by integrating technology with personalized financial advice
- Conquest, a comprehensive financial planning tool designed to help advisers expand their practice and provide clients with robust financial advice
- GetSetUp, an innovative educational platform tailored specifically for older adults, empowering them through live, interactive classes
- Givers, a startup supporting family caregivers by helping them access state programs that provide financial compensation, coaching and training
- juli, a startup leveraging artificial intelligence to revolutionize chronic condition management
- Smplicare, an AI-driven coaching platform focused on promoting healthy ageing
- TELL, a pioneering health-tech company specializing in neurocognitive health assessment through innovative voice analysis technology
- Waterlily, a startup utilizing AI to revolutionize planning and insurance for long-term care
- Zencey, a health-care startup leveraging AI and telemedicine to provide accessible and personalized care
By 2050, the global population over 65 is expected to double to 1.6 billion1, bringing significant health and wealth challenges for our planet. Manulife partnered with the World Economic Forum and UpLink on this challenge because of a shared sense of urgency to find accessible solutions to help people worldwide live longer, healthier, and better lives.
Manulife President and CEO Roy Gori will share more details about the winners today at the Longer. Healthier. Better. Longevity Symposium in Boston, which was hosted for the first time in 2023. The winning startups will each receive C$50,000 in prize money alongside access to UpLink’s Innovation Ecosystem. The ecosystem is a network of innovators, investors, experts, and partner organizations that can help them make a deeper impact.
“The world urgently needs solutions to address the longevity crisis. People are living longer, but not necessarily healthier lives. Many people cannot fund these extra years within the existing social and financial system,” said Sarah Chapman, Global Chief Sustainability Officer for Manulife. “The winners of this challenge are leveraging technology to create innovative solutions to these issues. Now more than ever, we need strategic collaboration like this to help people live longer, healthier, better lives.”
Earlier this year, the multi-year partnership between Manulife and UpLink was announced at the Forum’s Annual Meeting in Davos and the Prospering in Longevity Challenge is the first of three innovation challenges designed to help shape the future of, and investment in, the longevity economy. New thematic focus areas will be picked for the next two challenges in 2025 and 2026.
“Through the multi-year partnership with Manulife and the World Economic Forum’s Longevity Economy Initiative, UpLink is accelerating longevity innovation to empower people from all backgrounds to lead healthier, more financially resilient and fulfilling lives,” said John Dutton, Head of UpLink, World Economic Forum. “The first of three innovation challenges, Prospering in Longevity, attracted innovative solutions from around the world, with a focus on preventative healthcare and financial resilience across generations. We look forward to continuing our work with Manulife to source and scale start-ups in the longevity space, promoting resilient and prosperous lives for individuals, communities, and society as a whole.”
To learn more about Manulife’s Impact Agenda, and to track progress against its goals, visit manulife.com/impact.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
About UpLink
UpLink is the open innovation platform of the World Economic Forum, designed to unlock an ‘entrepreneur revolution’ for people and planet by supporting start-ups with innovative solutions for the world’s most pressing issues, as outlined by the United Nations Sustainable Development Goals (SDGs).
Launched at the World Economic Forum’s 2020 Annual Meeting in Davos in partnership with Deloitte and Salesforce, UpLink is building an innovation ecosystem for entrepreneurs, investors, experts and partners, helping to scale early-stage ventures sourced through a competition framework known as innovation challenges. UpLink has now run more than 50 challenges and identified over 500 entrepreneurs with innovative solutions across critical SDG areas including health, food, freshwater, ocean, plastics, education, climate and more. For more information, visit https://uplink.weforum.org.
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1 World Economic Forum – Longevity Economy Principles: The Foundations for a Financially Resilient Future |
Media Contacts: Emily English, [email protected], +1-647-544-2800
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Fintech PR
Economist Mazzucato warns of risks from uncontrolled innovation at TCI Network Conference
CHIHUAHUA, Mexico, Oct. 16, 2024 /PRNewswire/ — Italian-American economist Mariana Mazzucato has warned in Mexico about the risks of innovation driven by policies that exacerbate inequality, noting that some of the “stupidest fiscal policies have been implemented in the name of entrepreneurship.”
During her speech at the 27th TCI Network Conference, held in Chihuahua, northern Mexico, Mazzucato pointed out that the current global financial structure, rather than fostering inclusive growth, has contributed to wealth concentration and economic stagnation for large segments of the population.
The University College London professor argued that the narrative around innovation and entrepreneurship has been used to justify fiscal and financial policies that have actually increased inequality, such as the reduction in the capital gains tax in the United States.
“Some of the stupidest fiscal policies have been made in the name of innovation and entrepreneurship,” she stressed.
Mazzucato met with Mexico’s new president, Claudia Sheinbaum, to discuss projects related to innovation, regional development, and industrialization. She also held meetings with other cabinet members, including Economy Minister Marcelo Ebrard and Environment Minister Alicia Bárcena.
The renowned economist defended the need to ensure a fair distribution of the benefits of innovation, arguing that the current model has proven ineffective by ignoring the need to shape markets toward inclusive and sustainable growth.
“The growth that so many countries need is not the mission; it’s the outcome of how we actually design our public policies,” she said.
In this regard, the award-winning economist, who has been appointed to the Pontifical Academy by Pope Francis, advocated for a “better design of industrial policy.”
She emphasized the need for the public sector to take an active role in financing innovation, promoting policies aimed at solving specific social problems and addressing inequality, rather than perpetuating it.
Mazzucato also noted the importance of governments creating frameworks that encourage sustained investment in research and development, which involves not only increasing public spending in key areas but also fostering an ecosystem that promotes collaboration.
Finally, Mazzucato expressed concern over growing inequality and its connection to populism: “I’m very interested in inequality because I think it’s reaching a point that is closely tied to much of the populism we are seeing around the world.”
View original content:https://www.prnewswire.co.uk/news-releases/economist-mazzucato-warns-of-risks-from-uncontrolled-innovation-at-tci-network-conference-302277689.html
Fintech PR
Finoliga Launches Advanced Trading Platform with Ultra-Fast Execution and Comprehensive Market Research
BULFORD, England, Oct. 16, 2024 /PRNewswire/ — Finoliga, an emerging leader in the financial trading industry, is excited to announce the launch of its advanced trading platform, designed to meet the diverse needs of traders around the globe. With features such as ultra-fast trade execution, real-time market analysis, and a robust educational resource centre, Finoliga offers a complete trading experience for both novice and experienced traders.
Finoliga’s platform is engineered to provide traders with rapid access to global markets, including currencies, commodities, stocks, and indices. The platform’s ultra-low latency ensures that trades are executed with speed and precision, which is critical for developing and implementing effective trading strategies in real-time market conditions.
“At Finoliga, we are committed to providing traders with the tools and resources they need to succeed in today’s dynamic markets,” says a spokesperson for Finoliga. “Our platform combines cutting-edge technology with comprehensive market research, allowing traders to make well-informed decisions and optimise their trading strategies.”
The platform also offers an extensive range of market research tools, including daily market analysis, economic news, and real-time trade alerts. These tools provide traders with the latest market data, helping them stay informed and ahead of market trends. Finoliga’s daily analysis videos and exclusive in-depth courses further enhance traders’ knowledge, enabling them to refine their strategies and improve their trading outcomes.
In addition to its powerful trading tools, Finoliga places a strong emphasis on user security and privacy. The platform incorporates advanced security protocols to safeguard user data and financial transactions, ensuring a secure trading environment for all users. Finoliga’s dedicated support team is available around the clock to assist traders with any questions or concerns, further enhancing the user experience.
Finoliga’s platform is accessible across all devices, providing traders with the flexibility to trade anytime, anywhere. Whether on desktop or mobile, traders can engage with global markets at their convenience, making Finoliga the ideal solution for those who demand both mobility and performance in their trading activities.
With its launch, Finoliga aims to set a new standard in online trading by delivering a platform that combines speed, security, and comprehensive market insights. By offering a complete suite of products and tools, Finoliga is positioned to become a go-to platform for traders seeking to elevate their trading experience.
For more information about Finoliga and its advanced trading platform, please visit finoliga.com.
Contact Details:
Joseph Greenwood,
[email protected],
Phone number: +447424188392
Site: https://finoliga.com/
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