LANHAM, MD (October 29, 2007)-Group 1 Software, Inc., a Pitney Bowes Company, today announced that it has entered into a partnership agreement with Sapiens Americas Corporation, a subsidiary of International Corporation N.V., a member of the Emblaze/Formula Group, to enable insurance carriers to more accurately and efficiently automate operations.
Group 1 Software's industry-leading data quality and geocoding technologies provide real-time standardization, validation and cleansing of customer name and address information, as well as automated geographic risk assignment for faster, more efficient, and more accurate underwriting and other analysis.
Together with Sapiens INSIGHT insurance administration suite for policy, billing, claims and reinsurance management, Group 1 Software's technology provides insurers with the tools they need to respond quickly to business challenges including speed to market, increasing customer demands, globalization and regulatory change.
"Having ready access to accurate and complete customer data, as well as knowing how to interpret that data, is a key challenge that many insurance companies are facing today," said Roni Al-Dor, president and CEO of Sapiens. "Our partnership with Group 1 Software ensures that our customers will have clean, accurate and enriched data necessary to maximize the effectiveness of the Sapiens INSIGHT solution."
"In today's competitive environment, insurance carriers face tremendous pressure to move faster and more efficiently to capture new revenue, and improve profitability and operational efficiency," said Chuck Fazio, vice president of Global Alliances for Group 1 Software. "Sapiens' state-of-the-art insurance administration solution combined with Group 1 Software's advanced data quality and geocoding technology enables them to meet those challenges."