Insurance software provider Sapiens has strategically invested in Sapiens CoreSuite for Medical Professional Liability, MPL, to foster growth and innovation for the MPL industry.

By expanding and bolstering its MPL capabilities and products for policy administration, finance, claims, and risk management, and the seamless integration with value-added vendor solutions, Sapiens is trying to meet the needs of MPL insurers in the rapidly consolidating market.

Furthermore, this marks another important point in Sapiens’ growth and support for MPL.

Sapiens’ solution empowers insurers to manage the complexities of MPL operations effectively and adapt quickly to new regulatory requirements and industry standards.

In addition, with its enhanced functionality and flexibility, improved integration capabilities, and superior user experiences that support growth and retention, Sapiens CoreSuite for MPL delivers substantial new business value.

 “Cloud-based solutions with AI-driven automation have become the de facto standard for any kind of implementation or application that not only serves the business but also is smooth and easy to implement from an IT perspective,” said Craig Musgrave, Senior Vice President of Technology at ProAssurance. “In today’s dynamic climate, when multiple vendors need to solve a myriad of business problems, the pre-integration between those vendors is essential. To accelerate speed to market and maximize business results, insurers need to adapt their environment and leverage pre-integrated solutions from a host of vendors.”

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“Sapiens is proud of its critical role as a leader in the MPL ecosystem, and we are committed to an ongoing strategic focus on this market,” said Roni Al-Dor, Sapiens president and CEO. “Our advanced solutions unburden insurers from complex business problems, enabling business users to take control of processes. Sapiens helps create a synergy between those two worlds, giving MPL insurers a clean bill of health to empower them to thrive.”

Sapiens has also launched its AI-powered, open, integrated, cloud-native platform.

Sapiens Insurance Platform utilises digital engagement, data intelligence, core business processing as well as ML and GenAI to help insurers.

In addition, the integration of AI across the platform was boosted by Sapiens’ recent integration with Microsoft, offering insurers advanced GenAI capabilities.