Cary, N.C.-based Sapiens International Corp. announced an alliance yesterday to integrate the CDS Business Mapping, LLC RiskMeter Online natural hazard risk report with the Sapiens policy administration solution.
Financial considerations in the arrangement were not disclosed.
Roni Al-Dor, president and chief executive officer of Sapiens said that to meet demands of customers and intermediaries for speed, "we felt it was imperative to remove as many steps as possible from the underwriting process, and we did this by integrating the RiskMeter Online into the Sapiens INSIGHT for Policy solution."
Daniel Munson, founder of CDS Business Mapping said, "Eliminating repetitive steps from the underwriting process is one key factor when it comes to improving underwriting efficiency and profits.
"Another crucial component of this partnership though, is the ability to alert underwriters in the early stages of writing a new piece of business, whether it will be rejected because it doesn't meet a carrier's guidelines."
Sapiens is a member of the Emblaze/Formula Group.
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