HOLON, Israel, June 11, 2015 /PRNewswire/ --
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 ALIS at
Altshuler Shaham - a leading Israeli investment house.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
With insurance regulations encouraging new companies to
diversify the life insurance market, Altshuler Shaham recognized
the opportunity, opting to launch a greenfield life insurance
operation offering investment and risk products. The investment
house is offering end-to-end life insurance processing, from the
initial sale through ongoing management.
Altshuler Shaham's decision to enter this new market and
implement Sapiens ALIS, a core policy administration solution
supporting the complete policy lifecycle, was based on Sapiens'
deep knowledge of the insurance market, its proven solution and
wealth of experience managing long-term investment products.
The Sapiens system's full compliance with local regulations and
legislation, and the collaboration between Sapiens and Altshuler
Shaham personnel on the definition of workflows and procedures, led
to the completion of the project in only eleven months. Sapiens
provided interfaces for internal and external systems, to enable
Altshuler Shaham to merge this core system with existing
systems.
Altshuler Shaham is now benefitting from an online, digital
sales channel for policies - this new distribution channel is
unique in the industry and has expedited the firm's sales
process.
"Entering as a new player to the life insurance market, it was
important for us to team with a proven partner that would act as a
trusted advisor, offer best practices and guidance, and equip us
with the most modern technology," said Yair
Lowenstein, CEO of Altshuler Shaham Insurance Company Ltd.
"Sapiens' expertise and experience enabled us to go-live within
eleven months."
"Altshuler Shaham's vote of confidence in Sapiens ALIS and
people is appreciated and we look forward to playing a key role in
helping the investment firm continue its rapid growth trajectory,"
said Roni Al-Dor, Sapiens' president
and CEO. "We are always pleased to introduce our clients to new
verticals, so they can obtain new customers and increase their
revenue streams."
About Altshuler Shaham
The Altshuler Shaham Group, founded by Kalman Shaham and Gilad
Altshuler, is a leading Israeli firm in the field of asset
management. Since 1990, it has specialized in the management of
portfolios and mutual, provident and pension funds. The Group
currently manages approximately 70 billion
NIS, and provides a wide range of services to its
institutional and private investors. Altshuler Shaham`s creative,
professional and cautious approach, coupled with an innovative
investment strategy, has established Altshuler Shaham as a leading
asset management brand in the Israeli market. For more information:
http://www.invest-as.com.
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 150 financial services organizations. The Sapiens team of over
1,200 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