Sapiens CoreSuite for Workers Compensation will allow the insurer to use the latest technology advancements and industry standards while keeping the platform up to date.
RALEIGH, N.C., May 24, 2022 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) and (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Wyoming Department of Workforce Services (DWS), has modernized its Sapiens CoreSuite for Workers' Compensation platform, to take advantage of new capabilities for more rapid and efficient upgrades.
DWS provides Workers' Compensation coverage for a workforce of 200,000 in the state of Wyoming. The upgrade protects DWS' longtime investment in CoreSuite by making future updates faster and easier, while ensuring its CoreSuite platform is kept up to date.
DWS's move to the latest version of CoreSuite for Workers' Compensation includes a substantial technology platform refresh, as well as a new user interface. The upgrade also brings the advantage of externalized configuration management. This innovative capability enables client-specific configurations to be externalized, making CoreSuite upgrades faster and more efficient. DWS can now more fully leverage CoreSuite technology and accelerate deployment of functionality upgrades as they become available.
A Sapiens' client since 2008, DWS sought to accelerate its focus on client services and be more responsive to claimants and policy-holders. "Sapiens' solution provides us with multiple benefits from a number of functional enhancements. More importantly, Sapiens enables us to keep our processes up-to-date with industry standard system platforms," said Kelly Smith, Deputy Administrator, Business Intelligence Unit. "Upgrades can now be handled with the aid of externalized code that will enable us to deploy more frequent upgrades to functionality and the technology stack using our current resources."
"The success of this upgrade demonstrates how our combined team from DWS and Sapiens worked together toward a common goal of delivering an industry-leading service to Wyoming's employers and injured workers," said Jamie Yoder, Sapiens North America President and General Manager. "The upgrade is designed to optimize operational efficiencies, increase customer satisfaction, and boost profitability for workers' compensation providers, administrators and state funds."
Sapiens CoreSuite for Workers' Compensation enables carriers to improve operational performance by reducing claim inventories and supporting medical costs using advanced outcome-based case management. Its real-time payment processing allows automatic and split payments, offsets and deductions, refunds, transfers and 1099 processing for financial efficiency. The platform's rules-driven auto-adjudication and decision support, enables proactive case management that reduce claims settle resolution time and claims closure.
About Wyoming Department of Workforce Services (DWS)
Wyoming Department of Workforce Services operates 55 state and federal programs administered in 23 field offices. DWS' Workforce Standards Division is responsible for the Workers Compensation Program as well as regulatory and compliance/enforcement. This includes Workers' Compensation Claims and Employer Services, Workers' Compensation Safety and Risk (WCSR) and Wyoming Occupation Safety and Health Administration (OSHA), Labor Standards, and Employment Tax. For more information, please visit http://wyomingworkforce.org/about/
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers' compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit www.sapiens.com or follow us on LinkedIn.
Chief of Marketing, Sapiens
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