HOLON, Israel, October 26, 2016 /PRNewswire/ --
Sapiens to facilitate greater
efficiency and reduced costs to Generali Nederland, part of
the Generali Group, a leading
European insurance provider
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, with a growing presence in the financial services sector,
announced today that Generali Nederland has selected Sapiens'
platform to administer a large portion of its life
portfolios.
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Sapiens will lead the implementation effort for Generali
Nederland, which is part of The Generali Group, one of the largest
European insurance providers. Implementation will include
consolidating many life book systems onto Sapiens' solution.
Sapiens offers a unique proposition for life and pension
carriers that is designed to provide a modern and cost-efficient
platform for the administration of insurers' legacy estates and
books of business. Generali Nederland chose the solution to release
significant operational reserves as a result of switching to a
single platform. Further expected benefits include greater
efficiency, lower operational costs and a reduction in the total
cost of ownership.
"By creating a 360-degree view of our life book customers, we
will be able to update and manage customer details once, improving
data integrity and customer retention," said Mecx Kooij, head of
Life and Pensions and ICT at Generali Nederland. "As a result, we
anticipate a reduction in the overall cost of life books
administration by lowering our IT costs and improving operational
efficiency."
"There has been interest from existing and prospective Sapiens
customers in Europe seeking an
end-to-end solution for the administration of legacy or life
portfolio that is capable of dealing with missing data, changing
legislation and a wide range of life and pension product types,"
said Roni Al-Dor, Sapiens president
and CEO. "We look forward to working closely with Generali
Nederland to help them meet their goals of delivering the highest
quality customer experience, while continuing to reduce ongoing and
system support costs, and increase efficiencies."
Sapiens' solution addresses the administration of legacy and
life book portfolio challenges shared by most insurers, whether the
platform is chosen as part of an "Old-Co/New-Co" strategy, or as an
Old-Co consolidation platform. It can process top-ups or new
business, if required. The goal of this purpose-built solution is
to significantly cut the costs that are commonly associated with
life book platforms.
About Generali Nederland
Generali is an insurance company with a long history in
the Netherlands: 140 years of
stability, reliability and personal attention to our customers. We
provide non-life, as well as life insurance, for individuals,
entrepreneurs and organizations. The success of our organization is
determined by our 400+ motivated and skilled employees. Generali is
an independent insurer within the international Generali Group. For
more information, visit http://www.generali.nl.
About Generali Group
The Generali Group is among the world's leading insurers, with
total premium income exceeding €74 billion in 2015. With over
76,000 employees in the world, present in over 60 countries, the
Group has a leading position in Western
Europe and an increasingly presence in the markets of
Central and Eastern Europe and in
Asia. In 2015, Generali was the
sole insurance company included among the 50 smartest companies in
the world by the MIT Technology Review. For more information, visit
http://www.generali.com.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with a growing presence in the financial services sector.
Sapiens offers core, end-to-end solutions to the global general
insurance, property and casualty, life, pension and annuities,
reinsurance and retirement markets, as well as business decision
management software. The company has a track record of over 30
years in delivering superior software solutions to more than 200
financial services organizations. The Sapiens team of over 1,800
professionals operates through our fully-owned subsidiaries in
North America, the United Kingdom, EMEA and Asia Pacific. For more information:
http://www.sapiens.com.
Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: Yaffa.cohen-ifrah@sapiens.com