HOLON, Israel, April 29, 2019 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a global
provider of software solutions for the insurance industry,
announced today that Folksamgruppen (Folksam Group), a mutual
insurance company with over four million customers, has selected
Sapiens IDITSuite for Property & Casualty as its new
digital core solution. The Folksam Group is one of the largest
insurance companies in Sweden and
currently insures half of all family homes and people, as well as
every fifth car, in the country.
The new suite is expected to deliver an improved customer
experience, including a more responsive service, better claims
experience for Folksam customers and an enhanced broker experience
– ensuring that the Folksam Group can respond faster to its
brokers.
"The Folksam Group has a clear vision of contributing to a
long-term, sustainable society where its customers feel secure.
Delivering this security cost-effectively will result in more
customers placing their trust in Folksam across a broader range of
products for longer periods of time," said Johan Rudén, CIO of the
Folksam Group. "After a successful consolidation and modernisation
phase, we are entering a period of focus on optimised customer
engagement backed by efficiency improvements – these improvements
will lead to lower premiums and better terms and conditions for our
customers and owners."
"The implementation of the Sapiens P&C suite will play a key
part in delivering these benefits, by enabling the ambitious
digitalisation and automation initiatives intended to transform
Folksam into an even more modern and effective insurer," said Johan
Rudén, the Folksam Group's CIO. "Support for The Internet of Things
and self-driving cars, a sharing economy, automated claims handling
and robot advice are concrete examples of the intended consequences
of digitalisation and automation."
"This partnership is the latest demonstration of our ability to
help launch critical digital insurance initiatives," said
Roni Al-Dor, Sapiens president and
CEO. "We continue to make progress in the Nordic market and welcome
Folksam to our growing list of clients."
Sapiens IDITSuite is a component-based software solution suite
that enables insurance carriers to meet critical and long-term
business goals, with extensive multi-company, multi-branding,
multi-currency and multi-lingual capabilities. The suite is built
on open technology and is backed by Sapiens' 35+ years of unmatched
delivery expertise and global presence. Its field-proven, modular
components support all core operations of personal, commercial and
specialty lines of business.
About the Folksam Group
The Folksam Group offers
insurance and long-term savings. Folksam's vision is for our four
million customers to feel secure in a sustainable world. We manage
SEK 416 billion, have unit-linked
insurance assets of SEK 150 billion
and an annual premium volume of SEK 50
billion. The Folksam Group consists of the customer-owned
insurance groups of Folksam Life and Folksam General and
subsidiaries. The Folksam Group includes the Folksam, KPA Pension
and Folksam LO Pension brands. For more
information: https://nyhetsrum.folksam.se/en/about-folksam/.
About Sapiens
Sapiens International Corporation
empowers insurers to succeed in an evolving industry. The company
offers digital software platforms, solutions and services for the
property and casualty, life, pension and annuity,
reinsurance, financial and compliance, workers' compensation
and financial markets. With more than 35 years of experience
delivering to over 450 organizations globally, Sapiens has a proven
ability to satisfy customers' core, data and digital requirements.
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
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SOURCE Sapiens International Corporation