HOLON, Israel and ROCHELLE PARK, New Jersey, April 20, 2015 /PRNewswire/ --
Sapiens recently released system
enables an industry-leading plan provider to execute eligibility
rules seamlessly, simplifying the organization's processes and
increasing operational efficiency
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance and
retirement industry, with an emerging focus on the broader
financial services sector, announced today the successful go-live
of the eligibility component of the company's newly developed
defined contribution recordkeeping platform, Sapiens Retirement,
which is now supporting an industry-leading Retirement Services
company.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
The implementation of the eligibility component of the Sapiens
recordkeeping platform follows three years of development. The
design of the system is the result of collaboration with industry
leaders, with the objective of supporting a wide range of complex
eligibility rules that can be configured by plan providers. The
eligibility rules are executed seamlessly - without manual
intervention - and include robust exception-processing
techniques.
"We are pleased to announce this successful implementation of
Sapiens Retirement to help plan providers more effectively manage
their business and simplify processes. Eligibility determination is
one of the more difficult recordkeeping challenges and the success
of this project is an example of how Sapiens can help companies
deliver these services more efficiently and cost-effectively," said
Ron Karam, president of Sapiens U.S.
Retirement Services and Insurance division. "Many firms see
benefits to phasing in components, versus immediately embarking on
a full platform replacement."
Introduced to the market in 2014, Sapiens Retirement is a modern
recordkeeping platform for defined contribution plans. The
platform's capabilities support end-to-end recordkeeping for
401(k), 403b and 457 plans across all market segments. Sapiens'
solution can be deployed as a complete, end-to-end recordkeeping
platform, or as individual components: including plan rules,
account structure, payroll management, eligibility determination,
contribution processing and vesting.
"This important milestone of bringing Sapiens Retirement into
production is evidence of Sapiens' expertise in, and commitment to,
this strategic market segment," said Roni
Al-Dor, president and CEO of Sapiens. "The successful
development and deployment of Sapiens Retirement further
strengthens Sapiens' position as a leading technology provider to
the U.S. Retirement Services industry."
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader 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 130 financial services organizations. The Sapiens team of over
1,000 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