Decision Model.AI, the first product in the Sapiens Decision AI portfolio, will address the growing market demand for Decision Management technology driven by Machine Learning and AI Integration
TUCSON, Ariz., Oct. 25, 2023 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of Sapiens Decision Model.AI, integrating Microsoft Azure OpenAI Service into Sapiens Decision to transform the way that business decision models are created.
Decision modelers can now input business policy from virtually any source, written in conversational English, and have it automatically translated into a decision model. Sapiens Decision Model.AI is expected to reduce the time required to create a conventional decision model by 30% or more, and further decrease reliance on constrained IT resources.
Sapiens plans to further enhance its Decision AI portfolio in early 2024 with Decision Integrate.AI which will enable business users to easily integrate machine learning (ML) models within their decision models. Analysts and their stakeholders will gain full insight into the end-to-end components that go into their decision, providing complete traceability of ML model inputs/outputs used in decision making to improve auditability and reduce regulatory risk.
The Sapiens AI strategy applies a consistent approach, without the need for specialized or technical skills, to enable a much broader set of users across the business who can increase the speed and efficacy of decision making and automation. Sapiens Decision also provides a technology-independent solution to fit any architecture, allowing organizations to reuse their existing infrastructure and governance models. Sapiens Decision is planning additional AI based products to support the full lifecycle of the decision modeling process, including Extract.AI, Data.AI, and Optimize.AI.
“Sapiens Decision Model.AI enables organizations to implement policy changes faster with far less technical skills required,” said Jamie Yoder, President of Sapiens North America. “We’ve all experimented with generative AI services like ChatGPT but applying it to an enterprise use case like this is truly exciting because of the potential productivity enhancements it offers.”
Sapiens’ integration with Microsoft Azure OpenAI Service provides additional options for customers to take advantage of AI based solutions.
Dalia Ophir, Director, Worldwide Financial Services Industry at Microsoft Corp. added, “Sapiens Decision Model.AI integration with Azure OpenAI service provides end client productivity gains and business outcomes.”
To learn more about Sapiens Decision Model.AI click here.
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management.
Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Email: Yaffa.cohen-ifrah@sapiens.com
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SOURCE Sapiens International Corporation