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Collaboration Announced: Earnix and Sapiens Join Forces on Pricing Solutions

Delve into the prospective insurance cost models using the Earnix Price-It Connector in alignment with Sapiens IDITSuite, within the EMEA and APAC territories.

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Business collaboration: Earnix and Sapiens join forces to streamline pricing efforts
Business collaboration: Earnix and Sapiens join forces to streamline pricing efforts

Collaboration Announced: Earnix and Sapiens Join Forces on Pricing Solutions

The insurance industry in the Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions is set for a significant upgrade, as Sapiens International Corporation and Earnix have announced the availability of the Earnix Price-It Connector for Sapiens IDITSuite. This innovative solution is tailored for property and casualty (P&C) insurers, aiming to improve operational efficiency, pricing, rating, and policy management processes.

The Earnix Price-It Connector for Sapiens IDITSuite facilitates a bi-directional data flow between Earnix's pricing platform and Sapiens' IDITSuite. This integration allows for real-time premium calculations, quote generation, and supporting IDITSuite in policy issuance for new business, endorsements, and renewals.

Key Features of the Integration

  1. Enhanced Pricing Sophistication: Utilizing AI and predictive analytics, the connector aligns rates with risk, ensuring more accurate pricing strategies.
  2. Innovative Rate-Making Strategies: Low-code tools enable rapid adjustments to market shifts, enhancing flexibility in rate-making.
  3. Operational Efficiency: Eliminating manual rate recoding reduces errors and accelerates implementation timeframes for insurers.

Benefits for Insurers

This partnership empowers insurers to:

  • Improve Profitability: By making informed pricing decisions and streamlining operations.
  • Accelerate Implementation: Rapidly integrate Earnix's rating engine with Sapiens' Policy Administration System.

Expansion of Sapiens' Partner Network

In addition to the Earnix collaboration, Sapiens has expanded its Partner Network with four new strategic partnerships in the European market. The new partners include Akur8, Shift, Soleadify, and Imburse.

Roni Al-Dor, President and CEO at Sapiens, expressed pleasure about collaborating with Earnix on the development of this innovative connector. Robin Gilthorpe, CEO of Earnix, stated that the Earnix Price-It Connector will empower insurers to integrate modern solutions into their existing technology stacks.

The solution is designed to help insurers enhance their pricing, rating, and policy management processes, ultimately enabling them to respond swiftly to market demands, make informed pricing decisions, and ultimately improve profitability.

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