Sapiens, provider of software solutions for the insurance industry, has partnered with cloud-based SaaS provider Charlee to leverage artificial intelligence (AI) and machine learning (ML) for property & casualty (P&C) insurers.
Charlee supports claim and underwriting processes with predictive models and insights via natural language processing (NLP) understanding of documents and data attached to the policy or claim. Established in 2016, the company entered the market with the vision to “become the backbone” for insurance through its AI engine.
Sapiens offers an insurance platform with pre-integrated, low-code solutions and a cloud-first approach that it said accelerates customers’ digital transformation. The company serves over 600 customers in 30 countries.
The partnership will see the integration of Charlee’s AI engine for insurance with Sapiens’ CoreSuite for P&C. The companies said this will enrich and expand intelligent insights through all data types, minimising loss ratios and fraud and enabling insurers to proactively detect fraud and litigation propensity.
Jamie Yoder, Sapiens North America president and general manager, said, “Integrating Charlee AI engine for insurance with Sapiens CoreSuite for P&C provides our clients with the ability to take their claims and underwriting process to the next level. We continue to expand our partnerships to provide new business capabilities to accelerate the P&C digital transformation.”
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