HOLON, Israel, July 14, 2015 /PRNewswire/ --
Sapiens ALIS will
deliver EuroLife's new products to market quickly
and provide an efficient and flexible operating
environment
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 that EuroLife has selected Sapiens ALIS, a
core solution suite that supports the complete policy lifecycle, to
replace the company's legacy environment and support all of
EuroLife's life, investment and health lines of business.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
With an inflexible legacy environment unable to meet the leading
Cyprus-based life insurance
company's new product and time to market needs, EuroLife opted to
modernize its processing environment. The Sapiens suite was chosen
due to its modern technology, depth of functionality, flexibility
and ability to support EuroLife's diverse product portfolio. Also
key to the decision was Sapiens' unique implementation approach,
offering EuroLife a clear path to self-sufficiency through a
combination of a joint implementation effort, consultation/training
and Sapiens' knowledge and skills transfer.
"We selected Sapiens because of the rich business functionality
of its software and the professionalism and quality of the
personnel. We see a tremendous amount of value in Sapiens' domain
expertise and understanding of our business needs, as well as the
cultural alignment between our organizations and the partnership
spirit created," said Savvas
Sideras, Operations Manager at EuroLife.
Once in production, anticipated benefits from the new system
include:
- Improved time to market for new products
- Reduced IT costs associated with the support and maintenance of
the legacy environment
- A holistic view of the client in an omni-channel
environment
- The ability to leverage data to better serve and interface with
customers
"We look forward to working closely with EuroLife to help them
meet their goals of delivering the highest quality customer
experience, while continuing to reduce costs and increase
efficiencies," said Henry Ainouze, Vice President, Regional
Business and Operations at Sapiens.
Sapiens ALIS is designed to enable insurance carriers to
quickly and efficiently address the challenges of a highly
regulated and increasingly competitive marketplace. It's an
end-to-end, core solution suite that supports the complete policy
lifecycle across a wide variety of products in the life, pension,
annuity and medical segments.
About EuroLife
EuroLife is a leading life insurance company based in
Cyprus, holding a market share of
over 27%. It is a subsidiary company of the Bank of Cyprus Group
and it specializes in life, accident and health insurance.
EuroLife's philosophy is based on the needs and wants of any
potential client and offers a wide range of products and services
from pure life insurance covers to health insurance, as well as
savings and pensions addressed at both individuals and
institutions. For additional information, visit
http://www.eurolife.com.cy.
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