Sapiens Stingray System: A Policy Processing Workhorse

Roni Al-Dor, President & CEO, Sapiens Stingray SystemRoni Al-Dor, President & CEO
Sapiens Stingray System was developed to redefine the systems available in the insurance industry. Traditional systems did not provide the ability to change and adapt to new markets, distribution methods and economic models. From the beginning, Stingray was designed to focus on easier development management and configuration through flexible toolsets.

Previously known as Maximum Processing Inc., Stingray was recently acquired by Sapiens and is now known as Sapiens Stingray System. This partnership will provide additional capitalization for future growth of the organization. Another benefit of the partnership is the additional resources and market reach that Sapiens can provide.

What differentiates Stingray from the competition is its full-fledged policy administration suite. Most other product suites offer incomplete segments, forcing clients to piece together systems. Stingray provides a complete package that includes all necessary components to manage an insurance business, including business intelligence, workflow, imaging, printing and distribution. Because it is a full featured suite, everything is fully integrated, so clients can easily move between claims, policy, billing and other verticals.

Implementation of Stingray is iterative, following the Agile development process. Clients can be running live on the system in a matter of months. “We have an innovative approach to conversion, utilizing the 4Sight Business Intelligence tools to facilitate the transition to our system,” explains Roni Al-Dor, President & CEO, Sapiens. “New clients put their historical data into the 4Sight tool and begin using it to review data and create reports. As Stingray comes online, they can read the policies out of 4Sight and create the renewals, reducing conversion time and improving accuracy.

We have an innovative approach to conversion, utilizing the 4Sight Business Intelligence tools to facilitate the transition to our system

Stingray can move data back into 4Sight, so clients have a common data repository between the old system and the new system as they go through their renewal transition.”

Stingray understands the pain-points in the insurance policy landscape and targets its suite to serve those needs. “Stingray is very focused on the market it serves. It is geared toward small- to mid-size carriers, MGAs and RPGs. Our focus on the smaller market allows us to satisfy a need that exists in the lower tiers,” states Al-Dor.

Stingray provides an affordable solution that allows P&C insurance-related businesses to operate in a way that meets their individual needs. Annual maintenance is fixed price, to support growth, and licensing for Stingray is all-inclusive with unlimited seats. This allows businesses to grow, without the burden of increased overhead. There are no fees for options or add-ons, because everything is included in the original license.

One case study that shows the impact Stingray can have on an organization involves a startup, American Alliance. They were struggling to find an affordable platform with a full suite of features that would allow them to get their business off the ground quickly and in a cost-effective manner. After the implementation of Stingray, they were able to go paperless and manage their business electronically. This gave them the ability to handle larger volumes with fewer resources. Today they have $15,000,000 in written premiums—all administered by the Stingray system.

Stingray continues to improve their toolset to allow clients to create and maintain the system themselves. They are also working on improving the imaging system and the workflow so that they can continue to deliver systems that support the goals and successes of their clients.