The South Carolina State Accident Fund (SAF) has joined forces with insurtech company Sapiens International to automate and modernise its workers’ compensation and digital processes.
Established in 1943, SAF is a state agency that provides guaranteed workers’ compensation insurance for governmental entities.
The state agency will leverage Sapiens CoreSuite for workers’ compensation to deliver a more intuitive system with detailed workflow automation.
Besides, SAF will deploy Sapiens DigitalSuite and Sapiens Intelligence via Sapiens’ software as a service (SaaS) platform for a better engaging user experience and improved processing, respectively.
The system enhancements for SAF will make communication better and bolster efficiency through pre-configured, user groups based on roles, and messaging capabilities.
SAF is an existing customer of Sapiens, and the new system is expected to go live in October 2024.
SAF director Erin Farthing said: “With Sapiens’ demonstrated experience and operational know-how, we knew we could become far more responsive to claimants and policyholders.
“Sapiens has proven to be a true partner by understanding our business, responding to our requirements, and facilitating our transformation with solutions that drive growth and value.”
According to Sapiens, its CoreSuite for workers’ compensation helps carriers and state funds to enhance operational performance by lowering claim inventories and supporting medical costs through advanced outcome-based case management.
The firm provides insurers across property and casualty, workers’ compensation, and life insurance sectors with extensive solutions from core to complementary. These include reinsurance, data and analytics, financial and compliance, digital and decision management.
Sapiens North America president and general manager Jamie Yoder said: “An intuitive and streamlined workers compensation administration platform will help strengthen SAF’s overall operations.
“We look forward to helping SAF modernise its core systems while continuing to build its strong foundation for continued growth well into the future.”
In November 2022, Toyota Insurance Management Spain (Toyota Seguros) chose Sapiens for the total core digital transformation of its operations.
