HOLON, Israel, April 27, 2015 /PRNewswire/ --
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 that Tennessee Farmers
Life Insurance Company (TFLIC) has selected Sapiens ALIS, Sapiens'
flagship policy administration system.
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Following an extensive six-month vendor evaluation and due
diligence phase, TFLIC, which offers affordable life insurance in
Tennessee, chose Sapiens ALIS for
an IT modernization project designed to support the company's full
portfolio of life and annuity products. The project includes an
in-force conversion of more than 330,000 policies from LIFE-COMM.
This is Sapiens' third LIFE-COMM replacement initiative. TFLIC will
benefit from the full suite of Sapiens ALIS functionality,
including new business, policy owner service, claims processing and
repetitive payments.
This is Sapiens' first deployment of Sapiens ALIS in the cloud,
a service provided in partnership with NTT DATA, Inc., leveraging
NTT DATA's comprehensive application, Cloud migration and hosting
services. The combined solution will enable TFLIC to benefit from
an improved user experience, while lowering implementation risk.
TFLIC will also leverage the Sapiens ALIS service layer to
interface with LifeNet, TFLIC's primary user interface supporting
both internal users and TFLIC agents.
"We are pleased to partner with Sapiens to modernize our
infrastructure, enabling Tennessee Farmers Life to enhance the
service we provide to our policy holders and take advantage of
current digitalization trends, including mobility and social
media," said Dennis Stephen, chief
operating officer of TFLIC. "We felt the Service-Oriented
Architecture of Sapiens ALIS was ideal and the Sapiens personnel
who have assisted with our due diligence process, and now the
project, have been outstanding. This collaboration, along with
Sapiens' reputation in the industry, gives us confidence in our
decision."
"We wish to thank Tennessee Farmers Life for selecting Sapiens
and joining our growing Sapiens ALIS user community. We look
forward to another successful implementation," said Ron Karam, president of Sapiens North American
Insurance and Retirement Services division. "Our new partnership
with TFLIC demonstrates Sapiens ongoing commitment to the Life and
Annuity market as we continue to improve Sapiens ALIS to offer
greater benefits to our customers."
About Farm Bureau Insurance Group of Tennessee
Farm Bureau Insurance Group is made up of several companies.
Tennessee Farmers Mutual Insurance Company is the parent company
and its flagship. It has been in existence since 1948 and is one of
the strongest property and casualty companies in the country. Its
coverage is primarily in the personal lines of insurance. Tennessee
Farmers Life has been in existence since 1973. Based on in force
business Tennessee Farmers Life is ranked #1 for individual life
insurance coverage in the state of Tennessee. The company has over $31.6 Billion of life insurance in force and has
over 330,000 policies on the books. Tennessee Farmers Life is the
#2 writer of individual life insurance in Tennessee. For more information:
http://www.fbitn.com.
About NTT DATA
NTT DATA is a leading IT services provider and global innovation
partner with 75,000 professionals based in over 40 countries. NTT
DATA emphasizes long-term commitment and combines global reach and
local intimacy to provide premier professional services, including
consulting, application services, business process and IT
outsourcing, and cloud-based solutions. We're part of NTT Group,
one of the world's largest technology services companies,
generating more than $112 billion in
annual revenues, and partner to 80% of the Fortune Global 100.
Visit http://www.nttdata.com/americas to learn how our
consultants, projects, managed services, and outsourcing
engagements deliver value for a range of businesses and government
agencies.
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.
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
SOURCE Sapiens International Corporation