Sapiens partners with HazardHub to improve P&C insurers' underwriting process

Insurance software solutions provider Sapiens has teamed up with HazardHub, a provider of property-level hazard risk databases, to help improve property & casualty carriers' underwriting process.

The partnership will see HazardHub's real-time, comprehensive sets of risk data be integrated into the Sapiens CoreSuite for property & casualty – which is comprised of three fully integrated, standalone components: policy, billing and claims – to facilitate more accurate underwriting and straight-through-processing for North American insurers.

Sapiens' platform converts geospatial digital data into easy-to-understand and actionable risk assessments.

"P&C insurance carriers require real-time, property risk information and straight-through processing to shape more accurate underwriting decisions," said Bob Frady, CEO of HazardHub. "By offering the best hazard datasets available, along with our easy to understand 'scores' that give a quick yet comprehensive look at any property in the continental United States, our technology positively impacts P&C insurers' underwriting capabilities in a proven and meaningful way."

He added: "Sapiens' proven ability to apply smart technologies to the P&C underwriting process attracted us to this partnership and we look forward to helping Sapiens and its customers by supporting them in their innovation efforts."

Roni Al-Dor, Sapiens president and CEO, commented: "This is just the latest example of Sapiens' commitment to continuously improve the functionality and reach of our products, as well as our efforts to better penetrate the North American P&C market. This partnership will equip Sapiens P&C customers in North America with immediate access to the information necessary to facilitate straight-through processing and an enhanced agent and customer experience."