HOLON, Israel, November 2, 2016 /PRNewswire/ --
Following this latest announcement and its recent
partnerships, Sapiens now offers its life clients an all-inclusive,
digitally-rich, end-to-end platform
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 it has entered into an agreement to partner
with CalcFocus, a provider of advanced and rapid illustration
functionality that includes straight-through processing.
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CalcFocus will be fully integrated into Sapiens ALIS, an
industry-leading, core software solution for the life, pension,
annuity and medical segments, enabling Sapiens to provide the types
of comprehensive solutions that are needed to satisfy evolving
legislation and digitally-savvy customers, particularly
millennials.
With its advanced illustration functionality, CalcFocus offers
enhanced processing speed, needs analysis and financial advice
integration, with automated product recommendations that are based
on customers' best interests. Its complex illustrations can quickly
run with multiple variables, for both new and inforce business.
Following this latest announcement and Sapiens' partnerships
with Life.io, provider of a digital transformation platform
that monitors and analyzes policyholder behavior and encourages a
healthier lifestyle via incentives, and Idomoo, provider of
personalized video technology for enterprises, Sapiens' can now
offer its life clients an all-inclusive, end-to-end platform. This
platform will support the complete lifecycle of a policy, starting
with lifetime planning needs analysis; through product selection,
illustration and application process; culminating in policy, claims
and payout administration.
CalcFocus is Life.io's preferred integration partner to identify
user triggers and suggest carrier product recommendations to
Life.io users or agents. This information can be communicated via
Life.io or Idomoo. The CalcFocus engine determines the optimal
carrier product recommendations based on best fit and supplies
customized illustrations for the user.
Additionally, CalcFocus' illustration engine is expected to
extend Sapiens' capabilities by significantly increasing processing
speed, providing needs analysis capabilities and measuring inforce
performance against policyholder goals.
"Sapiens' clients can now provide immediate illustrations to
their customers and offer the best possible product, resulting in
new sales via mobile devices, tablets and other digital devices,"
said Mike McCurley, Sapiens executive vice
president, North America. "By
empowering our life insurers to deliver new products rapidly
through any media, we have made it possible for them to satisfy
millennials' tremendous appetite for digitization."
"We are pleased that Sapiens chose CalcFocus' advanced
illustration functionality following a thorough evaluation process
and our experience working together on a previous project," said
Tom McCahill, co-founder, CalcFocus.
"The integration between our organization and Sapiens enables the
total policyholder experience to be informed by 'customer first'
principles, with processing that understands the purpose behind the
sale and strives to keep policyholder goals on track."
About CalcFocus
CalcFocus was founded in 2013 by a group of insurance technology
veterans in response to seismic changes in the life and annuity
industry landscape. With unrivaled insurance knowledge and
cutting-edge technology, CalcFocus employs sophisticated future
projection algorithms to illustrate and recommend best-fit product
and financial investment allocations, serving the insurance agent,
financial adviser, and direct-to-customer channels. The CalcFocus
platform was designed with a pragmatic approach to configurability
and a dogmatic approach to quality. Learn more
at http://www.calcfocus.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