Cary, NC (PRWEB) June 1, 2008
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™ for Business Intelligence -- hosted by IBM and powered by IBM Cognos 8 Business Intelligence (BI) utilizing Millbrook's 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™ 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™ 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™ 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™ 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.
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 more Information on Millbrook solutions please visit http://www.millbrookinc.com.
FOR ADDITIONAL INFORMATION:
Michael V. Vaccarello
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