HOLON, Israel, Feb. 22, 2021 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
announced today that a Tier 1 South African bank has enhanced
its offerings with five additional components of Sapiens IDITSuite
for Property & Casualty to support its personal and
commercial lines of business. Sapiens extensive industry
experience, together with its comprehensive range of insurance
products for the bancassurance sector, continues to support the
financial institution's mission to become a full-service financial
service provider. Sapiens IDITSuite enables leading banks of this
caliber to meet increased demand from customers seeking digitised
experiences.
The go-live, which took place remotely due to COVID-19, included
the following Sapiens short term insurance retail/personal
solutions: Building Insurance, which covers homes from insurable
events; Home Content, which covers the content of homes from
insurable events; Portable Possessions, which covers portable
property from insurable events; and SASRIA, which covers insurable
riot and strike events for all non-motor insured assets. The
project also included a go-live of Sapiens commercial solution,
Business Cash Cover, which assists businesses with cash payouts for
certain insurable events.
A longtime customer of Sapiens, the financial institution
utilizes Sapiens CoreSuite for Life & Pension for its
bancassurance business. Sapiens IDITSuite for Property &
Casualty was originally selected for its excellent fit with the
organization's technical and functional requirements, as well as
its longtime reputation for successful implementations. In the next
phase of the project, Sapiens will continue to support the bank's
road map to revolutionize their online banking platform.
"Sapiens is pleased to foster great partnerships with our
customers and to demonstrate our strong commitment to accelerating
growth in the bancassurance sector. Our advanced solutions and deep
understanding of the changes reshaping bancassurance have
earned Sapiens a stronghold as a leading vendor in this industry,"
said Roni Al-Dor, Sapiens' president
and CEO. "Sapiens' comprehensive suite of solutions maximizes our
joint investment and technology efforts and will support the bank's
immediate and future needs."
Sapiens IDITSuite for Property & Casualty is a
component-based, standalone software solution comprised of policy,
billing and claims solutions. IDITSuite supports end-to-end core
operations and processes for the non-life (general) insurance from
inception to renewal and claims. Its pre-integrated, fully digital
suite offers customer and agent portals, business intelligence, as
well as a suite of tools for testing new lines of business,
products and services.
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 more than 550
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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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