HOLON, Israel, May 13, 2015 /PRNewswire/ --
Sapiens completes
complex legacy core pension system replacement and process
modernization in just 15 months
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector, announced today the successful go-live of Sapiens solution
at Clal Insurance - one of Israel's leading insurance, pension and
financial services group. The complex legacy system replacement and
process modernization effort was successfully completed in just 15
months - on time and on budget.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
The multi-million dollar effort was kicked off in late 2013 with
the selection of the Sapiens solution, chosen in large part due to
the system's proven capabilities. Clal also had confidence in
Sapiens' abilities given the company's technology, successful
implementation, and insurance market experience. The project
included development of the new system in an open environment, as
well as the development of two new modules - Agents Commission and
Claims Management.
The Sapiens team worked in close collaboration with Clal's
software organization, Clalbit, in the development and
implementation of complimentary systems, such as a data warehouse
and dashboard.
With the new Sapiens solution now in production, Clal insurance
is effectively providing its 2,000 insurance agents with
significantly increased automation and more efficient and
streamlined processing. Members of the fund and agents are now able
to easily access accurate information, make more informed and
timely decisions, and quickly complete processing, which makes for
an ideal user experience.
"The Sapiens solution has enabled us to accelerate our growth
and better serve our agents and customers to strengthen our
leadership position in the pension provider market," said
Izzy Cohen, CEO of Clal Insurance
Enterprises Holdings Ltd.
"Sapiens' system, together with other satellite systems
developed by Clalbit, allows us to serve agents, customers and
employees in a professional and high quality manner. I have no
doubt that that this project has positioned us on the cutting-edge
of the pension market in Israel,"
added Gil Arazi, CEO of Clalbit
Systems Ltd.
"The Israeli market is important for Sapiens and the success of
the Clal Insurance implementation gives us an even stronger
presence and reputation for high quality solutions and services in
this region," said Roni Al-Dor,
Sapiens president and CEO. "We will continue to work closely with
the Clal team as they grow their business and gain new efficiencies
with the Sapiens solution now in production."
About Clal
Clal Insurance Holdings is one of the leading insurance and
pension companies in Israel. The
company is rated "A" by Standard & Poor's Maalot and owns
insurance agencies, pension funds, provident funds, and credit
services companies. As of December
2013 Clal Insurance employs about 4,200 staff and about
2,000 insurance agents. The company holds a market share of
approximately 15% of the long-term savings market in Israel, as defined by the government's
insurance regulator. The group's pension funds manage assets
worth more than $ 41 billion for 500
Thousand members and provident funds of about $ 37 billion (as of end of September 2014).
For more information:
https://www.clalbit.co.il/engir/Pages/default.aspx
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