Sapiens International Corporation (NASDAQ:SPNS), a prominent provider of software solutions for the insurance sector, has formed a partnership with Addresscloud, a provider of cloud-based location intelligence.
This collaboration is set to enhance the ability of insurers to understand geographic risks better, enabling more precise underwriting decisions through improved access to geospatial data.
Alex Zukerman, Chief Strategy Officer at Sapiens, expressed that the partnership is part of their commitment to advancing the insurance industry through innovative solutions.
Similarly, Mark Varley, CEO of Addresscloud, sees this alliance as a pivotal development in how insurers leverage location intelligence.
The partnership is expected to improve the management of risk accumulation, reduce potential losses, and refine risk distribution strategies for insurers, offering a more robust and comprehensive approach to managing insurance portfolios.