HOLON, Israel, May 17, 2017 /PRNewswire/ --
Sapiens International Corporation,
(NASDAQ: SPNS; TASE: SPNS), a leading global provider of
software solutions for the insurance industry, with a growing
presence in the financial services sector, today announced the
successful go-live of Sapiens ALIS at EuroLife 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/20160803/395300LOGO )
With a legacy environment seriously challenged in meeting a
leading Cyprus-based life
insurance company's new product and time to market needs, EuroLife
opted to modernize its processing environment with a core solution
suite that supports the complete policy lifecycle and contributes
to its strategic goal of being a current, customer-centric
company.
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.
"The professionalism and quality of Sapiens' personnel were
major factors in our selection and Sapiens executed on its promises
and vision. Going live successfully in a relatively short period of
time was the result of great collaboration between two highly
professional, high-performing teams," said Savvas Sideras, operations manager at EuroLife.
"Sapiens' domain expertise and understanding of our business needs
provided tremendous value and led to a fast and collaborative
implementation process."
"This achievement was made possible by the excellent team work
and spirit exhibited by EuroLife and Sapiens," said Roni Al-Dor, Sapiens' president and CEO. "We are
pleased that the delivery process went smoothly and we look forward
to continuing to explore new opportunities with our partners at
EuroLife."
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
Sapiens ALIS is a flagship solution designed to enable
insurance carriers to quickly and efficiently address the
challenges of a highly regulated marketplace. The end-to-end, core
solution suite supports the complete policy lifecycle across a wide
variety of products in the life, pension, annuity and medical
segments and is pre-integrated with the Sapiens Digital Suite. ALIS
life insurance software is complemented by Sapiens' comprehensive
delivery capabilities.
An increased investment in Sapiens' digital vision, as well as
the recent acquisition of StoneRiver, a well-established and proven
vendor that delivers a wide range of solutions and services to its
200 North American insurance customers, has enriched Sapiens' life
offering.
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:
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 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:
http://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
SOURCE Sapiens International Corporation