Sapiens Reviews & Pricing

by Sapiens | Founded 1982, Holon, Israel

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What is Sapiens?

Industry Specialties: Insurance

Sapiens offers brokers and insurers a digital ecosystem for managing coverage lifecycles. Users can access comprehensive suites to create and manage workflows for specific coverage sectors.

It offers end-to-end automation and third-party integrations in addition to advanced analytical reporting. Users can aggregate data and systemize information to streamline workflows. Optimize business practices, manage traffic and finances, and access administration for different coverage structures.

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User Sentiment

Based on 14 reviews:

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Sapiens Pricing

Based on our most recent analysis, Sapiens pricing starts at $500,000 (Annually).

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Starting From: $500,000
Pricing Model: Annually
Free Trial: Yes, Request for Free

Training Resources

Sapiens is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Sapiens:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

Sapiens Benefits and Insights

Why use Sapiens?

Key differentiators & advantages of Sapiens

Reduced Expenses: Increase revenue and reduce costs by expediting all in-house processes with automation and rule-driven functionality. Reduce risks involved with migrating from previous systems.
Simplified Navigation: Browse interfaces quickly with user-friendly dashboards and personalized web portals. Increase platform efficiency with multi-channel access.
Deeper Customer Understanding: Use readable analytics to understand and anticipate client needs. Modify processes to meet customer expectations.
Improved Productivity: Automate workflows, expedite policy processing and simplify billing. Use open APIs to connect with third-party applications.

Industry Expertise

The program specializes in serving small, midsize and large companies operating in the insurance field.

Sapiens Reviews

Average customer reviews & user sentiment summary for Sapiens:

14 reviews

82%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of Sapiens reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Comprehensive Product Suite: Sapiens offers a wide range of insurance software solutions, covering various aspects like policy administration, claims management, and reinsurance. This allows companies to find tools that fit their specific needs and potentially integrate multiple modules for a more streamlined workflow.
Industry-Specific Focus: Sapiens' solutions are tailored to the nuances of different insurance sectors, such as life & annuities, property & casualty, and reinsurance. This specialization can lead to a better understanding of unique industry challenges and more relevant feature sets.
Scalability and Flexibility: The software is designed to accommodate the growth and evolving needs of insurance businesses. Whether it's expanding into new markets or adapting to regulatory changes, Sapiens aims to provide the flexibility to adjust and scale operations.
Modern Technology: Sapiens leverages modern technologies like cloud computing and AI to deliver efficient and innovative solutions. This can translate to benefits like improved data analytics, automation of routine tasks, and enhanced customer experiences.

Cons

Steep Learning Curve: Many users report that Sapiens products have a steep learning curve due to their complex interfaces and functionalities. This can lead to frustration and decreased productivity, especially for new users who may require extensive training and support.
Customization Challenges: While Sapiens offers customization options, some users find the process to be cumbersome and time-consuming. This can be a significant drawback for businesses with unique or evolving needs, as adapting the software to their specific workflows can be difficult.
Integration Issues: Integrating Sapiens with existing systems and third-party applications can pose challenges for some users. Compatibility issues and data migration complexities can arise, requiring additional technical expertise and resources to ensure seamless integration.
Performance Concerns: Performance issues, such as slow response times and system lags, have been reported by some users, particularly in instances of high data volume or complex processing. This can impact user experience and overall efficiency.

Researcher's Summary:

Sapiens, a software solution for the insurance industry, has sparked a range of opinions among users over the past year. While some praise its comprehensive functionality and ability to handle complex insurance processes, others point out areas where it falls short. Let's delve into the nuances of user feedback to understand where Sapiens shines and where it could improve.

One of the recurring themes in user reviews is the robust feature set of Sapiens. Its ability to manage the entire insurance lifecycle, from underwriting and policy administration to claims processing and billing, is a significant advantage. Users appreciate the depth of functionality, which allows them to automate tasks, streamline workflows, and improve operational efficiency. However, this strength can also be a weakness. The complexity of the system can lead to a steep learning curve, making it challenging for new users to get up to speed quickly. Additionally, some users find the interface to be less intuitive than desired, requiring additional training and support.

When compared to similar products like Guidewire and Duck Creek, Sapiens stands out for its industry-specific focus and its ability to handle large volumes of data. This makes it a suitable choice for larger insurance companies with complex operations. However, smaller companies or those with simpler needs might find Sapiens to be overkill, both in terms of functionality and cost. The pricing structure of Sapiens is another area where user opinions diverge. While some appreciate the value it delivers, others find it to be on the higher end of the spectrum compared to competitors.

In conclusion, Sapiens is best suited for large insurance companies with complex operations and a need for a comprehensive, industry-specific solution. Its strengths lie in its robust functionality, scalability, and ability to handle large volumes of data. However, companies should be prepared for a steeper learning curve and a potentially higher cost compared to some alternatives. For smaller companies or those with simpler needs, exploring other options might be more beneficial.

Key Features

Sapiens DigitalSuite: Pre-integrated with Sapiens CoreSuite, it allows users to revitalize and digitize insurance practices. Address customer concerns with BotConnect and LiveConnect and chat via popular platforms like Facebook Messenger and WhatsApp. Offer agents portfolio and task management.
Sapiens CoreSuite: Access comprehensive suites for all sectors of management. Choose between different coverage structures and capabilities to best fit business and client needs.

P&C CoreSuite: View property and casualty products with a comprehensive dashboard for policy, billing and claims management. Integrate with BI, web portals and pre-configured interfaces.
General/Non-Life Insurance IDITSuite: Communicate through traditional and digital channels. Use cloud-based design to find and store data. Get products to market faster with pre-made content and libraries. Access specific policy, billing and claims tools to accelerate processing.
Medical Professional Liability CoreSuite: Simplify complex liability claims. Offer support for individuals, groups and hospitals. Access an MPL specific content library and use low-code tools to create and execute products.
Life & Annuities CoreSuite: View policy administration and communicate information across traditional and digital channels. Include a suite for individual and worker benefits.
Life & Pension CoreSuite: Use open APIs to expedite processing for L&P insurance procedures. Manage individual, group life, investment and medical products in one hub.
Workers’ Compensation CoreSuite: Manage the Workers’ Compensation lifecycle. Access a full view of the incident, policies and claims in one location.

Policy: View history and enable auditing. Run hypothetical scenarios to analyze client needs. Enable end-to-end automation for faster processing and make quick changes to policy terms.
Billing: Automate processes in the billing lifecycle, including disbursements, disputes and write-offs. Offer customers flexible billing and payment options. Analyze financial reports to improve workflows.
Claims: Complete claims tasks in a central location. Improve workflows by automating simple tasks.
Underwriting: Give users access to specific permissions. Focus the underwriter's attention where it is most needed.
Analytics: Use behavioral analytics to predict future market patterns and view assimilated, aggregated data. Enable BI tools like Sapiens Intelligence and IntelligencePro.
Integrations: Use API Conductor to integrate with third-party applications. Access important information with data repositories.