Technology consulting and services firm Mindtree and software solutions provider Sapiens have joined forces to digitise insurance firms.
The tie-up aims to equip insurance firms with digital solutions, allowing them to scale operations and launch new offerings quickly.
Initially, the firms will focus on the North American market and expand into Europe and Asia subsequently.
Mindtree chief business officer for banking, financial service and insurance Mukund Rao said: “Digital technologies have unlocked a significant opportunity for banking, financial services, and insurance companies to not just streamline processes, but also drive new business and operating models centred on engaging and disruptive experiences. The combined strengths of Mindtree and Sapiens will enable these companies to maximise digital transformation and business outcomes.”
Sapiens offers a complete insurance platform, which is said to have pre-integrated low-code solutions and a cloud-first approach to enable digital transformation.
P&C insurers use Sapiens’ CoreSuite to deploy core systems, which include business intelligence, reinsurance, and portal solutions for all business lines, on the cloud.
Sapiens North America president and general manager Jamie Yoder said: “We are delighted to partner with Mindtree in the property & casualty and life & annuity insurance markets. Our collective insurance industry and digital transformation experience will further strengthen our delivery capabilities and scale, which will drive continued growth and customer satisfaction.
“Together, we will power insurers with the competitive edge to meet market demands and succeed in the digital age of insurance.”
In July 2021, Sapiens and Munich Re collaborated to help insurers target the commercial insurance market.