One of Canada's largest
mutual life insurance companies will modernize its new business
processes with automation, via Sapiens UnderwritingPro for Life
& Annuities
HOLON, Israel, Oct. 30, 2019 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that Equitable Life of Canada (Equitable Life) has launched
Sapiens UnderwritingPro for Life & Annuities (formerly
known as StoneRiver LifeSuite).
Equitable Life, a mutual life insurance company since 1920 that
is based in Ontario, expects that
this go-live will modernize its new business processes, including
task automation. The company plans to significantly decrease
turnaround times via UnderwritingPro, a web-based solution for
automated underwriting and new business case management.
"After an extensive vendor and solution search, we selected
Sapiens UnderwritingPro for its superior functionality, client
references, depth of experience with Canadian life insurance
companies and technical expertise," said Karen Mason, Equitable Life's senior
vice-president of Individual Insurance. "The ability to configure
UnderwritingPro for our specific rules and processes, as well as
the straight-through processing and system integration, will
streamline our business."
Equitable Life anticipates a significant number of process
improvements, new capabilities and cost savings, resulting in
higher advisor satisfaction and faster turnaround times. Process
improvements include automated ordering of underwriting
requirements data and immediate approval on qualified insurance
plans.
"Sapiens is pleased that our robust underwriting solution
continues to help North American carriers modernize their
businesses," said Roni Al-Dor,
Sapiens' president and CEO. "It's been a pleasure working with
Equitable Life, one of the true leaders in the competitive Canadian
market."
Sapiens UnderwritingPro for Life & Annuities is part
of Sapiens Platform for Life & Annuities. UnderwritingPro
speeds new business processes for insurance carriers and their
channels, offering an intuitive user interface with critical
updates and task assignments provided on a real-time dashboard. The
solution enables underwriters and case managers to work on multiple
cases simultaneously.
About Equitable Life of Canada
Canadians have turned to Equitable Life since 1920 to protect
what matters most. We work with independent advisors across
Canada to offer individual
insurance, savings and retirement, and group benefits solutions to
meet your needs.
Equitable Life is not your typical financial services company.
We have the knowledge, experience and ability to find solutions
that work for you. We're friendly, caring and interested in
helping. The Company is owned by our participating policyholders,
not shareholders, allowing us to focus on your needs and on
providing you with personalized service, financial protection and
peace of mind. For more information: www.equitable.ca.
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.
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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