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RAC Deploys Earnix Suite to Unlock Efficiencies and Innovation
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Earnix has deployed its AI-driven solutions for RAC Insurance in collaboration with Sapiens, enhancing productivity and data governance. This integration aims to respond quickly to customer needs and improve operational efficiency for RAC, which serves over 1.2 million members. The deployment is noted as one of the most efficient in Earnix's history, paving the way for future innovations. Both companies emphasize the importance of data ownership and proactive analysis in their partnership.
Positive
Successful deployment of Earnix solutions at RAC Insurance enhances productivity and efficiency.
Integration with Sapiens' policy administration system improves data governance.
RAC Insurance serves over 1.2 million members, indicating a significant market presence.
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Earnix and Sapiens join forces for improved productivity and time to market
PERTH, Australia--(BUSINESS WIRE)--
Earnix, a global provider of real-time AI-driven rating, dynamic pricing, product personalization, and fully operationalized telematics solutions for Insurance and Banking, today announced the first phase of its solutions have been deployed by RAC Insurance Pty Ltd, a wholly owned subsidiary of the Royal Automobile Club of WA Inc. (RAC). This solution is projected to enable innovation, enhance productivity, and improve model and data governance.
A purpose-led member organization, RAC sought Earnix’s intelligent insurance operations solutions. The key objectives of this initiative are to respond quickly to members, improve model and data governance, and increase productivity.
“With more than 1.2 million members, RAC is focused on delivering great services and experiences and driving positive change in Western Australia,” said Damien Van Pelt, General Manager Product and Sales at RAC Insurance. “Our work with Earnix is another important step in improving our ability to support our members.”
As part of the project, Earnix was integrated with Sapiens International Corporation’s powerful policy administration system. Sapiens, a global leader in P&C Insurance, played a key role in the technical design, modelling, and integration between RAC, Earnix and Sapiens’ core platform. Local Australian partner Finity, a strategic analytics consulting firm with more than 30 years of analytics, actuarial, business strategy, and data services expertise, implemented the joint solution.
“We are pleased to partner with Earnix and RAC to increase RAC’s efficiency, productivity, and agility,” said Roni Al-Dor, Sapiens’ president, and CEO. “Sapiens and Earnix have enabled RAC to take ownership of their data governance and proactively conduct their own analysis to better serve their members. Our agile and easy-to-integrate solutions enable a solid partner ecosystem and long-term partnerships.”
Sammy Krikler, Found and Chief Insurance Officer at Earnix said, “The excellent project management practices of RAC, alongside the collaborative spirit of Finity, Sapiens, and Earnix ensured a seamless integration and go live process which was among the quickest and most efficient deployments Earnix has conducted in its more than 20 years. We believe this joint effort has set a solid foundation to unlock efficiencies and enable innovation for many years to come.”
Earnix offers award-winning dynamic, composable, intelligent solutions that empower carriers to reimagine insurance. With AI-driven functionality and seamless integration with existing IT systems, Earnix transforms how insurance companies are run.
About Earnix
Earnix is the premier provider of mission-critical composable and cloud-based intelligent solutions across pricing, rating, underwriting, product personalization and telematics. These fully integrated solutions provide ultra-fast ROI and are designed to transform how global insurers and banks are run by unlocking value across all facets of the business. It has been innovating for Insurers and Banks since 2001 with customers in over 30 countries across six continents and offices in the Americas, Europe, Asia Pacific, and Israel. For more information please visit: earnix.com.
Royal Automobile Club of WA (RAC) represents more than one million members and is Western Australia’s leading advocate on mobility and transport. Its vision is for a safer, sustainable and connected future for Western Australians.
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 more than 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 https://sapiens.com or follow us on LinkedIn.
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to pandemic risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the recent novel coronavirus pandemic, which adversely affected our results of operations, or fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our most recent Annual Report on Form 20-F, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
