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Seeweekly news
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2005-10-17 |
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Sapiens & Parameds.com Announce Partnership to Deliver Advanced Underwriting Services in North America |
Sapiens International Corporation N.V. (NASDAQ: SPNS ; TASE: SPNS), a
member of the Formula Group (NASDAQ: FORTY ; TASE: FORT) and Parameds.com
announced today the formation of a partnership to provide MediRisk(TM), an
innovative automated expert underwriting solution, to the North American Life
and Health insurance market. The partnership will offer the MediRisk(TM)
solution through outsourced services and direct license options to deliver
fully automated new business processing, expert underwriting, and risk
analytics for life, health and disability insurance carriers. MediRisk(TM),
part of the Sapiens INSIGHT(TM) suite of insurance solutions, is a
sophisticated, flexible, and adaptable software for the medical underwriting
process that produces an accurate, objective underwriting decision in a
matter of a few minutes for any life, health, or disability insurance product.
MediRisk(TM) uses Sapiens' eMerge business-rules technology to integrate
specific insurer underwriting philosophies with constantly updated medical,
pharmacological, and disease databases to produce an underwriting decision or
unique risk assessment "score" defining the individual health status for
applications for life, health or disability insurance - all in an in-house or
outsourced solution that easily integrates with existing systems.
MediRisk(TM)'s underwriting risk analysis engine and configuration
capabilities are unique in the industry, enabling clients to reduce
application processing time and cost by 80% or more, and process a single
application for multiple life, health, and disability products or coverage in
a single transaction.
"We are delighted to partner with Parameds.com to make MediRisk(TM)
available to life and health insurers in North America," commented Steven
Bessellieu, President of Sapiens Americas. "Its benefits have been recognized
by analysts and clients throughout Europe and the Middle East, and we expect
clients to immediately begin to leverage its advantages."
Eli Rowe, CEO of Parameds.com, remarked, "We believe that MediRisk(TM)'s
flexibility, rules-based technology, rapid implementation approach and easy
maintenance combined with Parameds' market presence, superior client service,
and proven ability to deliver high quality outsourcing represents outstanding
value for carriers looking to reduce costs and more effectively compete and
grow in today's constantly changing market." |
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