Sapiens partners with Albany Group to provide compliance automation at Lloyd’s of London Market
HOLON, Israel, March 9, 2022 /PRNewswire/ — International Sapiens Society, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced an agreement with Albany Group, which specializes in risk and intelligence, for an automated compliance, risk and regulatory platform that provides a complete third-party supply chain management solution.
The partnership simplifies complex compliance processes that are run on third-party platforms such as Lloyd’s, to efficiently meet stringent industry and regulatory requirements at reduced cost and minimal risk.
“Albany and Sapiens go hand in hand. The combination of our technologies brings real value to our customers, simplifying software integration so that configurable compliance is virtually at the touch of a button,” says Stewart Griffithsco-founder and CEO of the Albany Group.
The solution provides analytics tools for comprehensive monitoring, performance management, and third-party supply chain auditing, saving time while maintaining consistency throughout the process. The combined solution now fills a significant gap in current policy administration and compliance services, with critical business data siled. Tight integration improves automation, resulting in greater productivity and real-time accuracy gains.
“We are extremely excited to partner with Albany Group to transform the user experience of regulatory and compliance solutions that span multiple platforms into a simple, seamless and automated process,” said Roni Al Dor, President and CEO of Sapiens. “Our cohesive solution will support Lloyd’s market players from start to finish, with the highest efficiency available in the market.”
Albany’s Group Conect™ application will be integrated into the Sapiens Lloyd ecosystem, to automate onboarding and access.
About Albany Group
Founded in 2007, Albany Group specializes in risk and intelligence software and is proud to serve some of the biggest names in insurance and financial services. The company is built on decades of insurance, analytics and military industry expertise, focused on delivering the most powerful intelligent risk management platform using pioneering technologies and applications. Albany Group’s mission is to bring customers control, insight and simplicity – to increase efficiency, protect reputations and integrate supply chain regulatory compliance. https://www.albanygrp.com/
Sapiens International Corporation (NASDAQ and TASE: SPNS) is enabling the financial industry, with a focus on insurance, to transform and become digital, innovative and agile. Leveraging over 35 years of industry expertise, Sapiens offers a comprehensive insurance platform, with pre-integrated low-code solutions and a cloud-first approach that accelerates customers’ digital transformation. Serving more than 600 customers in 30 countries, Sapiens offers insurers in the property and casualty, workers’ compensation and life insurance markets the most comprehensive set of solutions, from core to complementary , including reinsurance, finance and compliance, data and analytics, digital and decision management. For more information, visit www.sapiens.com or follow us on LinkedIn.
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