This work between Sapiens and Microsoft with AI has been described as to transform the way that business decision models are created.
Decision modelers can now input business policy from virtually any source, written in conversational Engliah, and have it automatically translated into a decision model Sapiens Decision Model.AI is expected to reduce the time needed to make a conventional decision by 30% or more as well as lessen reliance on constrained IT resources.
Furthermore, Sapiens plans to further enhance its Decision AI portfolio in early 2024 with Decision Integrate AI which will allow businesses to easily integrate machine learning (ML) models within their decision models.
Analysts and their stakeholders will gain full insight into the end-to-end components that go into the decision, providing complete traceability of ML model inputs or outputs used in decision making to improve auditability and reduce regulatory risk.
In addition, the Sapiens AI strategy applies a consistent approach without the need for special skills to allow a broader set of users across the business who can increase the speed and efficacy of decision making and automation.
“Sapiens Decision Model.AI enables organisations to implement policy changes faster with far less technical skills required,” said Jamie Yoder, president of Sapiens North America. “We’ve all experimented with generative AI services like ChatGPT but applying it to an enterprise use case like this is truly exciting because of the potential productivity enhancements it offers.”
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Dalia Ophir, director, worldwide financial services industry at Microsoft Corp. added: “Sapiens Decision Model.AI integration with Azure OpenAI service provides end client productivity gains and business outcomes.”
Aktia Life, one of Finland’s top insurers with close to 100,000 customers, selected Sapiens as its partner to lead their core system transformation with Sapiens CoreSuite for Life and Pensions.
Sapiens was chosen due to its proven experience in complex insurance ecosystem integrations.
In addition, it provides an end-to-end, cloud-first, digitally enhanced platform for individual and group products across life, wealth and pension insurances.