Today, DigitalOwl, a company that specializes in utilizing technology to interpret and transform medical records into a completely digital, comprehensive and interactive abstract, and Sapiens International Corporation (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced a partnership to help the companies remain on the leading edge of the digital transformation within the insurance industry.
“Partnering with Sapiens, an industry leader that possesses over 40 years of experience, reaffirms our commitment to empowering underwriters within the life insurance industry,” said Christian Vance, Sales Director, Channels and Partnerships at DigitalOwl. “Together, we can help transform digital underwriting by leveraging access to unstructured data while improving the underwriting and decision-making process through automation.”
DigitalOwl’s Digital Underwriting Abstract (DUA) allows records to be digitized in hours versus days, greatly reducing time spent scanning hundreds – or possibly thousands – of pages in a medical record. The latest version of the abstract is evidence of their commitment to continually making improvements to the technology solution.
By highlighting typical factors to underwrite for preferred class or healthy lifestyle factors, key impairments, and a full summary on an impairment level with all supporting medical data, underwriters gain the tools they need to quickly make a sound determination on how to best proceed. This unique, streamlined solution, combined with the ability to provide a machine-readable file for ingestions in underwriting models, establishes a solid means for unstructured data to become a cornerstone piece in building a true digital underwriting platform.
“DigitalOwl’s advanced technology solution allows for faster time-to-market and greater efficiencies within the insurance industry,” said Sapiens Propositions, Ecosystem & Alliances Manager Amanda Ingram. “Their revolutionary process in transforming medical records will help our clients solve real-world issues in the insurance market by providing the ability to assess the customer more efficiently and effectively. Equally as important, their technology allows us to easily adapt to the changes within our industry, which happen frequently as more data is made available.”
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