HOLON, Israel, April 6, 2017 /PRNewswire/ --
Alexander Forbes Selects Sapiens as Partner for its
Modernisation Programme
Alexander Forbes, the
pan-African financial services group, has selected Sapiens for its
full complement of world class solutions under a single delivery
organisation
Sapiens International Corporation (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, and Alexander Forbes Group Holdings Ltd (JSE: AFH), a
leading pan-African financial services leader, have entered into a
material agreement intended to enhance the delivery of Alexander Forbes' client experience and
solutions. Sapiens expects to generate significant revenues
pursuant to the new agreement in each of 2017, 2018 and 2019.
(Logo:
http://photos.prnewswire.com/prnh/20160803/395300LOGO )
The core systems - Sapiens ALIS for life and pensions, and
Sapiens IDIT and Sapiens Reinsurance for short term insurance -
together with the Sapiens PORTAL, Sapiens INTELLIGENCE and Sapiens
DECISION for decision management, will provide end-to-end,
integrated digital capabilities across all lines of business.
Sapiens will serve as the primary implementation partner.
Andrew A. Darfoor, Alexander
Forbes Group Chief Executive, commented: "The transaction with
Sapiens is the largest single investment in technology and digital
in the history of the Group. This is a critical component of our
strategic ambition of becoming the leading pan-African financial
services leader by providing our clients with a lifetime of
financial well-being solutions through a modern platform with an
improved customer experience".
Under the agreement, Sapiens will provide a wide range of
offerings - including key components of the Sapiens Digital Suite -
to power Alexander Forbes' client
proposition and enhance its digital capability.
"We were looking for a strategic partner that could provide us
with modern technology and a digital platform in order to deliver
innovative and best-in-class solutions to our client base" said
Darfoor. "Sapiens' comprehensive, innovative and digitally rich
platform and solution portfolio is the right fit for our
organisation. The company also has a proven ability to deliver
complex projects of this size and scope which gives our Board the
confidence that we are making the right long-term decision."
"Alexander Forbes selected
Sapiens based on our ability to serve as a one-stop-shop for
products, services and delivery," said Roni
Al-Dor, Sapiens President and CEO. "Sapiens' portfolio will
enable a full modernisation and digital transformation, empowering
Alexander Forbes to provide a
personalised and tailored customer experience and enhanced time to
market of new products. Our modern IT platforms will help fuel
Alexander Forbes' growth and provide
it with full and automatic regulatory compliance."
"I would like to thank Alexander
Forbes, an important and valued Sapiens partner, for
engaging Sapiens for a project of this magnitude," continued
Al-Dor. "This agreement signals our commitment to strengthen our
footprint and increase our allocation of resources in the strategic
region of South Africa."
INFORMATION ON ALEXANDER FORBES
Alexander Forbes is a specialised
financial services group headquartered in South Africa focusing on employee benefits
solutions for institutional clients, and financial wellbeing and
retail financial solutions for individual clients, in particular
employees of the Group's institutional clients. Alexander Forbes is listed on the Johannesburg
Stock Exchange ("JSE"), and its primary clients span both the
private and public sector market segments, including employers,
retirement, health, investment and other special purpose funds on
the institutional side, and individual members and beneficiaries of
these funds, as well as the wider individual market, on the retail
side. The main services provided by the Group include retirement
funds and asset consulting, actuarial, investment and
administration services, employee risk benefits and healthcare
consulting, personal lines insurance, individual financial advisory
and multi-manager investment solutions. Alexander Forbes' principal geographic focus is
in South Africa, where it has been
operating since 1935, sub-Saharan Africa, the UK and other selected
jurisdictions which have employee benefits legislative frameworks
similar to South Africa.
www.alexanderforbes.co.za
Alexander Forbes :
Lynn Stevens, Group Marketing Officer:
stevensly@aforbes.co.za; +27(0)82-658-3408
Corporate Image: Sure Kamhunga, Account Director:
sure@corporateimage.co.za; +27(0)83-5444-392
INFORMATION ON SAPIENS
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with a growing presence in the 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 400
financial services organizations. The Sapiens team of over 2,500
professionals operates through our fully-owned subsidiaries in
North America, the United Kingdom, EMEA and Asia Pacific. For more information:
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