Biomarkers

Sapiens and Binah.ai announced partnership

The partnership will enable insurers to leverage health and wellness monitoring technology for streamlined underwriting and enhanced user experience

Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, and Binah.ai, the number one health and wellness check software provider, today announced a partnership to empower more insurance companies worldwide to use client-provided health data for improved risk management and value-added services at reduced costs. The partnership enables Binah.ai to leverage Sapiens’ strong global presence and provide Sapiens’ customers with seamless access to Binah.ai’s software-based health and wellness check technology.

Access to health data shared by end-users through Sapiens’ platform, enhanced with Binah.ai’s technology, provides a myriad of benefits for both clients and insurance companies:

  • Improved risk assessment and prevention measures
  • Improved market understanding and competitiveness
  • Streamlined underwriting and more efficient straight-through processing
  • Increased engagement in wellness programs
  • Enhanced user experience at reduced costs

Binah.ai’s Health Data Platform is disrupting healthcare and wellness monitoring by leveraging AI technologies to transform smartphones and tablets into powerful tools for both on-the-spot checks and continuous health and wellness checkups. Users have the flexibility to conduct either a quick spot check by simply looking at the device’s camera or opt for continuous monitoring by wearing the Polar Verity Sense™ optical heart rate sensor. This enables them to measure and share a comprehensive array of vital signs, including blood pressure, heart rate, heart rate variability, oxygen saturation, respiration rate, pulse-respiration quotient (PRQ), and mental stress-related biomarkers like sympathetic stress and parasympathetic activity. Additionally, users can simultaneously obtain an overall wellness score.

“We are extremely excited to partner with Sapiens, a leading player in the global insurtech sector. Sapiens’ strong presence will help boost our expansion in the insurance industry and provide their customers with seamless access to our solution. I look forward to a great partnership, for the benefit of the entire industry and its clients,” said David Maman, Co-Founder and CEO of Binah.ai.

With more than 40 years of industry expertise, as well as 600 customers in more than 30 countries, Sapiens empowers insurers to transform and become digital, innovative, and agile. Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation.

“Binah.ai’s groundbreaking health monitoring technology is a game-changer in our insurance solutions, revolutionizing how insurers harness objective health data for robust wellness programs,” emphasized Amanda Ingram, Sapiens Proposition & Ecosystem Manager. “Through seamless integration, we drive straight-through processing and elevate premium rating by leveraging remote, real-time health monitoring. This transformative partnership not only optimizes the underwriting processes but also empowers the insurer to assess risk more accurately and bolster preventive measures.”

Sapiens and Binah.ai will hold a live webinar on February 22, 2024, where they will present their new joint solution and its use cases for the insurance industry. To learn more about how this partnership is empowering insurers with innovative solutions, please click here.

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