Connect with us
European Gaming Congress 2024

Artificial Intelligence

Sapiens Decision Launches Solution to Boost Decision Underwriting Efficiency and Profitability for P&C

Published

on

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.
Logo: http://mma.prnewswire.com/media/585787/Sapiens_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/sapiens-decision-launches-solution-to-boost-decision-underwriting-efficiency-and-profitability-for-pc-302276331.html

Continue Reading
Advertisement

Artificial Intelligence

groundcover Launches on GCP Marketplace: Unlocking New Possibilities for Enhanced Cloud Performance and Innovation

Published

on

groundcover-launches-on-gcp-marketplace:-unlocking-new-possibilities-for-enhanced-cloud-performance-and-innovation

TEL AVIV, Israel , Oct. 15, 2024 /PRNewswire/ — groundcover, a cloud-native solution that transforms observability through eBPF technology, is excited to announce the launch of its observability platform in the Google Cloud Marketplace. This strategic move allows organizations utilizing Google Kubernetes Engine (GKE) to effortlessly install groundcover as a managed service, streamlining observability for their cloud-native applications.

groundcover’s integration with GKE simplifies the deployment process, ensuring that clusters are secure and performant while minimizing the operational burden of installation, configuration, and ongoing updates. This launch marks a significant expansion of groundcover’s cloud environment support and further solidifies its mission to revolutionize observability. By harnessing groundcover’s proprietary eBPF sensor and cost-effective inCloud architecture which allows data to never leave the user’s cloud, organizations can redefine how they monitor their cloud-native environments, significantly reducing costs and resource overhead with zero code changes and full-coverage, out-of-the-box.
groundcover’s presence in the Google Cloud Marketplace provides GKE users with easy access to its advanced observability tools. This digital catalog of software solutions empowers millions of Google Cloud users to quickly find, evaluate, and deploy groundcover, reinforcing the platform’s reliability and commitment to providing the best of breed application performance monitoring solution.
As application architectures scale and dependencies multiply, acquiring deep insights becomes essential for effective troubleshooting. Kubernetes users often grapple with the complexities of instrumenting applications, collecting metrics, and generating actionable logs in highly distributed microservices environments. With the increasing demand for enhanced Kubernetes observability, eBPF has emerged as a game-changing technology that redefines application monitoring within GKE clusters. groundcover’s kernel-level sensor allows for unparalleled performance, offering comprehensive application performance monitoring without disrupting existing application code.
By leveraging eBPF, groundcover delivers a full-stack observability platform that provides immediate value without compromising on scale, granularity, or cost. Its innovative architecture collects observability data directly at the kernel level, allowing users to collect logs, metrics and traces instantly with eBPF, and store them inCloud, on their infrastructure, all managed by groundcover. This streamlined methodology not only enhances the coverage and depth of observability but also minimizes the performance impact on critical application code.
The result is a cost-efficient approach to observability, delivering granular visibility into Google Kubernetes Engine clusters.
“eBPF is pivotal for GKE users seeking deeper insights into their applications and infrastructure,” said Shahar Azulay, CEO and Co-Founder of groundcover. “groundcover eliminates the visibility-cost tradeoff, allowing teams to achieve comprehensive observability without overspending. With Google Cloud as a partner, we’re committed to maximizing observability solutions for our users at a fraction of traditional costs.”

View original content:https://www.prnewswire.co.uk/news-releases/groundcover-launches-on-gcp-marketplace-unlocking-new-possibilities-for-enhanced-cloud-performance-and-innovation-302276292.html

Continue Reading

Artificial Intelligence

Operation Smile Featured in “Beyond the Code,” a New Branded Series that Explores How AI Is Driving Transformative Change

Published

on

operation-smile-featured-in-“beyond-the-code,”-a-new-branded-series-that-explores-how-ai-is-driving-transformative-change

VIRGINIA BEACH, Va., Oct. 15, 2024 /PRNewswire/ — Global nonprofit Operation Smile today announced its involvement in Beyond the Code, a new branded series presented by Partnership on AI (PAI) and produced by BBC StoryWorks Commercial Productions. The first of its kind, this online series – which includes a story produced for Operation Smile of how AI is improving healthcare – uncovers the ways that AI is impacting people’s lives and contributing to a more sustainable environment.

BBC StoryWorks filmed with Operation Smile in Musanze, Rwanda, to capture the innovative use of AI in the surgical evaluation process for patients with cleft conditions. The 5-minute film follows a Rwandan family whose child received life-changing surgery and showcases the profound impact of Operation Smile’s work on patients and their communities.
“We are proud to be part of Beyond the Code,” said Dr. Billy Magee, Chief Medical Officer, Operation Smile. “The story produced for Operation Smile highlights our pioneering use of AI technology to enhance healthcare delivery. By integrating AI into our planning and evaluation processes, we are not only raising the standard of care but also building local capacity, bringing life-changing surgical care closer to the communities we serve.”
Operation Smile has an ongoing commitment to increase access to sustainable, high-quality care, starting with cleft surgery. The incorporation of AI into evaluation processes helps ensure that every surgery is evaluated based on consistent, measurable criteria, providing high-quality care in regions where specialized cleft surgeons are scarce.
“If I could describe Operation Smile in one word it would be ‘evolving,'” said Dr. Caroline Yao, Plastic Surgeon and SVP Patient Metrics & Evaluation, Operation Smile. “We are constantly evolving to best serve our patients. The integration of AI into cleft care, currently being piloted, supports our mission to create sustainable solutions and reinforces our commitment to drive innovation in global healthcare. We are excited to be one of the 12 organizations featured in the Beyond the Code series for driving transformative change.”
The Beyond the Code Series is available at https://www.bbc.com/storyworks/specials/beyond-the-code/. Operation Smile’s film can be accessed at: https://www.operationsmile.org/story/using-ai-to-help-create-new-smiles-and-rebuild-lives/.
 About Operation Smile
Operation Smile is a leading global nonprofit bridging the gap in access to essential surgeries and health care, starting with cleft surgery and comprehensive care. We provide medical expertise, training, mentorship, research and care through our dedicated staff and volunteers around the world, working alongside local governments, nonprofits, and health systems, and supported by our generous donors and corporate partners. Visit Operation Smile for more information.
Contact:
Pedro Mucciolo,
Senior Director, Global Communications
Operation Smile
[email protected] 
 

View original content:https://www.prnewswire.co.uk/news-releases/operation-smile-featured-in-beyond-the-code-a-new-branded-series-that-explores-how-ai-is-driving-transformative-change-302275902.html

Continue Reading

Artificial Intelligence

Databricks Strengthens Partnership with AWS to Deliver Advanced Generative AI Capabilities

Published

on

databricks-strengthens-partnership-with-aws-to-deliver-advanced-generative-ai-capabilities

Databricks to use AWS Trainium AI chips to accelerate development of custom models built with Mosaic AI
SAN FRANCISCO, Oct. 15, 2024 /PRNewswire/ — Databricks, the Data and AI company, today announced a strategic collaboration agreement (SCA) with Amazon Web Services (AWS) to accelerate the development of custom models built with Databricks Mosaic AI on AWS. Databricks will leverage AWS Trainium chips as the preferred AI chip to power Mosaic AI model training and serving capabilities on AWS. Joint customers can leverage Mosaic AI to pretrain, fine-tune, augment and serve large language models (LLMs) on their private data, backed by the scale, performance and security of AWS. The expanded partnership will also include new integrations for Databricks on AWS Marketplace.

Databricks and AWS power customized, production-quality generative AI applications
The collaboration builds on Databricks’ newly expanded Mosaic AI capabilities, which includes Mosaic AI Model Serving. Mosaic AI Model Serving is designed to support a variety of model providers, including the broad selection of models available via Amazon Bedrock. Customers can also scale model training on Mosaic AI at a low cost using high-performing, cost-effective AWS Trainium chips. Together, Databricks and AWS will make it possible for thousands of joint customers to build, deploy and monitor high-quality, customized AI applications without sacrificing control over their data or intellectual property.
“Generative AI is disrupting every industry and a company’s data will ultimately be its competitive advantage. Strengthening our collaboration with AWS allows us to provide customers with unmatched scale and price-performance so they can bring their own generative AI applications to market more rapidly,” said Ali Ghodsi, Co-founder and CEO at Databricks.
“Our collaboration with Databricks unlocks the potential for customers to drive real value from their data using generative AI,” said Matt Garman, CEO of AWS. “By using AWS Trainium to power Mosaic AI, Databricks will make it cost-effective for customers to build and deploy generative AI applications on top of their analytics workflows, regardless of their industry or use case. This powerful combination will allow businesses of all sizes to gain valuable insights from their data, helping customers innovate faster by focusing on what truly matters most for their business.”
Expanded Databricks and AWS go-to-market partnership and joint offerings
This agreement builds on the long-standing relationship between Databricks and AWS, its first cloud partner. Databricks’ AWS business has already surpassed a $1 billion run rate, fueled in part by AWS Marketplace, where total contract value has doubled on an annualized basis over the past two years.
As part of this relationship, Databricks and AWS will continue to invest in product capabilities and programs to support customers, including:
Custom Model Optimization & Enhanced Security: Databricks and AWS will collaborate on the development of custom models built with Mosaic AI using AWS Trainium chips to improve cost and performance for training and running LLMs. AWS Trainium benefits from the AWS Nitro System, a collection of hardware and software components designed to provide high performance, availability, privacy and security for cloud-based workloads.Migration and Modernization for Generative AI: Databricks and AWS will work with systems integrator (SI) partners to migrate data estates running in on-premises data centers onto AWS and accelerate the modernization of their data platforms.Tailored Industry Solutions and Accelerators: As the demand for generative AI grows across industries like Media and Entertainment and Financial Services, Databricks and AWS will continue to develop joint industry solutions that help customers solve challenges within their organization and drive innovation.Enhanced Ease of Use: The two companies are making it easier for customers to adopt and run Databricks on AWS through new integrations on AWS Marketplace, including simplified onboarding and configuration and serverless compute powered by AWS.Joint Generative AI Go-to-Market Programs: Alongside its SI partners, Databricks will build technical solutions and implementation resources to help customers identify generative AI workloads and on-premises migrations that can be optimized with Databricks on AWS.Expanding Co-Marketing Initiatives: Databricks and AWS will continue to invest in strategic joint marketing programs, including each company’s flagship industry events. This work will also include co-branded technical resources and developer-focused events designed to allow customers to prototype generative AI solutions.Continued commitment to joint customer success
The SCA underscores Databricks’ commitment to AWS and both companies’ shared focus on delivering business value to joint customers, including Block, Rivian and SEGA.
“At SEGA, our goal is to deliver a personalized gaming experience that keeps our millions of customers coming back for more. To do this, we knew we needed a unified data platform that could both handle and harness our data to help us turn insights into new features our customers will love,” said Stuart Wright, CTO of SEGA Europe. “The rapid integration of generative AI has immense potential to accelerate innovation in the video game development, publishing and creative process. The collaboration between AWS and Databricks gives us the model choice, scalability, security and price-performance we need to build a better gaming experience, improve brand loyalty and grow our community.”
The Databricks Data Intelligence Platform is available on AWS and has achieved FedRAMP® High Agency Authority to Operate for its cloud services on AWS GovCloud.
About DatabricksDatabricks is the Data and AI company. More than 10,000 organizations worldwide — including Block, Comcast, Condé Nast, Rivian, Shell and over 60% of the Fortune 500 — rely on the Databricks Data Intelligence Platform to take control of their data and put it to work with AI. Databricks is headquartered in San Francisco, with offices around the globe and was founded by the original creators of Lakehouse, Apache Spark™, Delta Lake and MLflow. To learn more, follow Databricks on X, LinkedIn and Facebook.
Contact: [email protected]
Logo – https://mma.prnewswire.com/media/2528890/Databricks_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/databricks-strengthens-partnership-with-aws-to-deliver-advanced-generative-ai-capabilities-302274201.html

Continue Reading

Trending