RALEIGH, North Carolina and
HOLON, Israel, April 6, 2020 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that Illinois Mutual Life
Insurance (Illinois Mutual), a company that services 47 U.S.
states and serves over 8,600 independent agents, chose multiple
Sapiens' life solutions as part of its digital transformation
project. The insurer aims to deliver seamless illustration,
eApplication, straight-through underwriting and intuitive
enrollment functionality to their agents and customers.
Illinois Mutual selected Sapiens IllustrationPro for Life &
Annuities, Sapiens ApplicationPro for Life & Annuities, Sapiens
UnderwritingPro for Life & Annuities and Sapiens
EnrollmentPro for Life & Annuities after a thorough market
evaluation.
The move by Illinois Mutual is aimed to enhance the overall
client and agent experience within its life, disability income and
worksite insurance solutions. The company sought to achieve this
objective by enhancing its illustration capabilities, improving
eApplication functionality and modernizing the underwriting
system
"We expect Sapiens IllustrationPro's innovative illustration
software to optimize sales and drive new business," said Katie M.
Jenkins, president and chairperson, Illinois Mutual. "The
illustration capabilities will differentiate Illinois Mutual from
our competitors by helping to provide a superior and seamless
customer experience. Additionally, Sapiens' digital
underwriting solutions offer best-in-class workflows and
straight-through-processing to help Illinois Mutual modernize and
transform the underwriting experience."
"Sapiens' point-of-sale solutions were built from the ground up,
leveraging all the latest in digital technologies, to support
Illinois Mutual's current and future platform," said David Ratnaraj, assistant vice president and
program director, insurance systems modernization, Illinois Mutual.
"The solutions possess a powerful configuration toolset and open
APIs, and provide an integration services layer that will empower
us to easily integrate to third-party products or services with
minimal effort."
"Sapiens' comprehensive, end-to-end life platform enables
insurers to select the solutions that will most benefit their
business. Our industry best practices and knowledge, combined with
our advanced digital life insurance software and pre-integration,
reduces implementation time and speeds time-to-market," said
Roni Al-Dor, Sapiens' president and
CEO. "This provides the competitive advantage our clients
demand. Sapiens is proud to have been chosen as a partner for
a transformation project by a well-established and leading company
such as Illinois Mutual."
The Sapiens Platform for Life & Annuities offers excellence
in the administration of the insurance business and creates greater
efficiency via legacy consolidation. The platform is comprised of a
core suite (including illustration, underwriting and eApplication),
advanced analytics and a full digital suite.
About Illinois Mutual
Founded in 1910 by the same family that leads the company today,
Illinois Mutual is a trustworthy, experienced and caring provider
of life insurance, disability insurance and voluntary worksite
insurance products. Committed to serving the middle market, we help
people achieve and safeguard their financial security. For more
information: www.illinoismutual.com.
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 500
organizations globally, Sapiens has a proven ability to satisfy
customers' core, data and digital requirements. For more
information: www.sapiens.com.
Media Contact
Alex Zukerman
CMO and Chief of Strategy, Sapiens
+972-546-724-910
alex.zukerman@sapiens.com
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SOURCE Sapiens International Corporation