Sapiens International Corporation , a leading insurance software provider, partnered with Addresscloud, a cloud-based location intelligence provider, to improve insurers’ geographic risk understanding and underwriting decisions with access to global geospatial datasets.
The alliance provides accurate geocoding for every covered property, reducing risk assessment and claims processing errors. Insurers will now have access to specific property data, including dangers and other characteristics, to help them assess risk.
By analyzing geographic risk concentrations, minimizing possible losses, and optimizing risk distribution techniques across portfolios, the partnership also improves accumulation management.
Through the integration of Addresscloud’s sophisticated mapping and exact geolocation services with Sapiens’ primary P&C products, the cooperation provides insurers with a more robust and all-encompassing solution. Deeper insights, better decision-making, simplified workflows, and increased data accuracy are all made possible by this potent combination, which also improves user experience.
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“We’re excited to announce our partnership with Sapiens, as it marks a significant step forward in transforming how insurers access and utilise location intelligence,” said Mark Varley, CEO of Addresscloud. “Sapiens’ commitment to providing world-class technology solutions aligns perfectly with our mission. By integrating our services, insurers can now seamlessly incorporate precise address matching, geocoding services, and comprehensive property and peril information into their workflows, enhancing their competitive edge in the market.”
By evaluating the probability and seriousness of several hazards, including fire, flood, wind, and subsidence, peril ratings help underwriters and pricing strategists make more educated choices. The term “subsidence” describes the ground’s surface gradually sinking or settling with little or no horizontal motion.
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“Our collaboration with Addresscloud underscores our dedication to delivering innovative solutions that drive the insurance industry forward,” said Alex Zukerman, Sapiens Chief Strategy Officer. “Sapiens provides a robust suite of advanced analytics and data integration capabilities, enabling insurers to gain unparalleled insights into geographic risks. By leveraging our comprehensive software solutions, insurers can achieve greater accuracy in risk assessment and pricing, ultimately leading to more effective risk management and improved profitability.”
About Sapiens
Sapiens International Corporation leads intelligent insurance software worldwide. With Sapiens’ robust platform, customer-driven alliances, and broad ecosystem, insurers can future-proof their operations in a fast-changing industry.
About Addresscloud
Addresscloud provides insurers with exact address-level data and risk assessments for underwriting. Insurers can make smarter judgments using fast, scalable, and accurate location intelligence APIs from modern cloud technologies.
