Encova Insurance Transforms its Workers' Compensation Offering with Sapiens Solutions
Encova boosts its workers' compensation processing power with onboarding of new technologies
RALEIGH, N.C., May 9, 2022 /PRNewswire/ -- Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, has announced that Encova Insurance has upgraded its Sapiens CoreSuite for Workers' Compensation platform, to continue to leverage the solution's future-proof architecture while capturing its newest features and functions.
Encova is represented by more than 2,000 independent agencies with staff who live and work in local communities throughout 28 states and the District of Columbia. The upgrade protects their IT environment against near- and long-term obsoletion by enabling Encova to accommodate emerging and evolving technologies on an ongoing basis.
Improvements and advancements to the Sapiens CoreSuite for Workers' Compensation platform ensure Encova's architectural stack stays open, current and flexible, in compliance with industry and security standards. The open architecture facilitates communication and transfer of data within Encova's core applications, which significantly increases automation capabilities, allows for faster adoption of digital technologies and improves the user experience for everyone involved in the workers' compensation claims process.
"The upgrade to our core workers' compensation solutions empowers us to create and maintain custom validation and event-triggering rules in a simplified, graphical manner, which means we can quickly accommodate business and regulatory changes without the need for coding," said Casey Jordan, vice president of application development for Encova. "We have partnered with Sapiens for more than a decade, and we continue to leverage the specific expertise they bring to every project."
Encova initially deployed Sapiens CoreSuite for Workers' Compensation in 2009 for its robust, out-of-the-box capabilities and functionality specific to the workers' compensation line of business. This is especially critical for Encova, that writes business in multiple states, each with its own set of regulatory requirements. Sapiens' open-architecture design enables Encova to roll out new states quickly through no-code configuration, empowering faster and easier upgrades and a significant reduction in time and cost.
Jamie Yoder, Sapiens North America President & General Manager, explains how Sapiens and Encova work together to drive successful results for both companies. "Encova and Sapiens have a strong partnership dating back many years," Yoder said. "Our teams work as one and continue to drive innovation for Encova's workers' compensation insurance offering. Sapiens CoreSuite for Workers' Compensation forms a flexible and agile platform upon which Encova's business team continues to drive excellence by way of supporting their constituents."
About Encova Insurance
A super-regional carrier ranked in the top 20 mutual insurance companies in the United States, Encova includes nearly 1,200 associates writing in 28 states and the District of Columbia, premiums in excess of $1 billion, a surplus in excess of $1.96 billion and assets in excess of $4.8 billion. The group markets insurance solutions through more than 2,000 independent agencies in the Midwest, Northeast and South.
About Sapiens
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.
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