Sapiens, Millbrook and IBM to Offer on Demand Business Intelligence to Small and Mid-Sized Insurance Carriers
Posted on May 30, 2008
Filed Under 1
CARY, North Carolina, May 30 /PRNewswire/ — Sapiens Americas
Corporation, a subsidiary of Sapiens International Corporation N.V. (NASDAQ
and TASE: SPNS) and IBM (NYSE: IBM) today announced that it will partner
with Millbrook, Inc. to provide a new on-demand business intelligence
solution - Sapiens INSIGHT(TM) for Business Intelligence - hosted by IBM
and powered by IBM Cognos 8 Business Intelligence (BI) utilizing Millbrook
P&C data model.
Small and medium sized property & casualty (P&C) insurance carriers can
now enjoy sophisticated enterprise-class business intelligence solutions
similar to those of larger carriers, using a delivery method and at a
price-point that better suits their needs. Sapiens INSIGHT(TM) for Business
Intelligence combines Millbrook’s data model, which is based on over 15
years of experience in providing P&C-specific business intelligence
solutions, with a rich array of dashboards, Key Performance Indicators
(KPIs), predictive analytics, alerts, visualizations, decision support, and
a library of standard and ad-hoc reports.
“We are excited about the offering and our ability to make it available
on-demand, at an affordable cost, to carriers of all sizes. Small and
medium sized insurance carriers face the same challenges as larger
companies, but have limited IT resources to solve such challenges. They
need to compete and Sapiens INSIGHT(TM) for Business Intelligence gives
them that edge,” said Roni Al-Dor, CEO & President of Sapiens
International.
“The small to medium sized carriers are the backbone of the insurance
industry. They face unprecedented market challenges. Sapiens INSIGHT(TM)
for Business Intelligence provides the tools they need to survive in this
very demanding market,” stated John Search, Principal and Co-Founder of
Millbrook.
Providing a standard data import interface, Sapiens INSIGHT(TM) for
Business Intelligence allows carriers to easily provide their data and be
‘up and running’ in significantly shorter time frames than traditional
applications.
“IBM recognizes the importance of Web delivered applications and is
partnering with Sapiens and Millbrook to use our managed hosting services
coupled with IBM Cognos BI to bring unparalleled business intelligence to
property & casualty carriers of all sizes,” said Dave Mitchell, ISV &
Developer Relations, IBM.
Business intelligence and predictive analytics tools are becoming the
strategic mainstay of how service enterprises in general, and insurance
carriers in particular, conduct their daily business. Companies that have
near real-time ability to analyze the entirety of their captured business
data and extract key performance indicators and accurate answers to
“what-if” scenarios can be more responsive to a rapidly evolving business
environment and can competitively maximize profitable operations while
moving away from risky propositions.
About Sapiens International
Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a
member of Emblaze/Formula Group (LSE: BLZ.L) (NASDAQ: FORTY and TASE: FORT)
is a leading global provider of proven IT solutions that modernize business
processes and enable insurance organizations to adapt quickly to change.
Sapiens’ innovative solutions are widely recognized for their ability to
cost-effectively align IT with the business demands for speed, flexibility
and efficiency. Sapiens operates through its subsidiaries in North America,
the United Kingdom, EMEA and Asia Pacific, and has partnerships with market
leaders such as IBM and EDS. Sapiens’ clients include AXA, ING Canada,
Liverpool Victoria, Menora Mivtachim, Norwich Union, Occidental Fire &
Casualty, OneBeacon, Principal Financial Group, Santam and Texas Farm
Bureau among others. For more information, please visit
http://www.sapiens.com.
About Millbrook
Millbrook was founded by insurance professionals. Millbrook’s
associates have deep experience in a vast array of disciplines within the
insurance industry and in the practice of Business Intelligence and Data
Services. For well over a decade Millbrook’s focus has been providing
information solutions to the P&C industry. It is this unique industry
competence and focus that enabled Millbrook to become the premier provider
of information solutions and services in the market today.
For additional information:
Michael V. Vaccarello,
Vice President
Sapiens Americas
+1-919-405-1507
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