The accelerated platform will position
Altshuler Shaham as a leading player in the Israeli pension funds
market
HOLON, Israel, May 10, 2022 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, has announced that Altshuler Shaham Investment House, one
of Israel's fastest growing
provident and pension funds, has upgraded its Life and Pensions
solution, to accelerate and support its rapidly growing pension
funds business. Sapiens Life and Pension platform will dramatically
improve Altshuler Shaham's business processes and operational
costs. Sapiens' platform was selected for its ability to meet
Altshuler's business needs as well as Israeli regulatory
requirements.
![Sapiens Logo Sapiens Logo](http://mma.prnewswire.com/media/585787/Sapiens_Logo.jpg)
Altshuler Shaham manages pension assets for 2.4 million
customers of more than NIS 200
billion. The upgrade of its pension management platform will
support its steady growth trend. The new platform addresses both
the changing business needs and the requirements of Israeli
regulation, and will enable the company to provide an even more
flexible and efficient service for its customers. The upgrade will
offer Altshuler Shaham significant improvement in streamlining the
operation of pension activities.
"We are pleased to continue our fruitful cooperation with
Sapiens," said Anat Knafo Tavor, CEO
of Altshuler Shaham Provident Funds and Pension. "The choice of
Sapiens stemmed from its rich experience in the field of pensions
and technology and in Israeli local regulations. The implementation
of the system, which is currently taking place, is part of our
growth strategy, and our goal is to continue to lead the pension
market in Israel."
"Sapiens is extremely pleased to be a trusted partner of
Altshuler Shaham and to empower them to achieve such outstanding
growth in the pension fund market. Our 40-year industry expertise
demonstrates our commitment to excellence in pension fund
solutions," said Roni Al-Dor,
Sapiens president and CEO.
According to Tal Sharon, Director
of Sapiens Israel, "We are proud of Altshuler Shaham's choice to
streamline and expand its operations with Sapiens' advanced
solutions, thus becoming a leading player in the field of pension
fund management in Israel."
Sapiens Life and Pensions solution and digital facilitation of
pension claims deliver a simplified, automated and integrated
process for all parties involved (the insurance company, government
agencies and legal representatives). The solution offers a dramatic
improvement in straight-through processing and a significant
decrease in claims calls and processing times.
About Altshuler Shaham Investment House
Altshuler Shaham Investment House was established in 1990 by
Gilad Altshuler and Kalman Shaham, and now incorporates a group of
companies in various fields of finance. Altshuler Shaham is
co-managed by two chief executives, Gilad
Altshuler and Ran Shaham. Today, the investment house
manages some 275 billion shekels for
1.8 clients and investors, and offers its clients a broad range of
products and services, including managing investment portfolios,
provident funds, study funds, pension funds and mutual funds.
Altshuler Shaham also offers additional services such as retirement
planning, alternative investments, trust services and foreign
currency services, provided by its incorporated subsidiaries. For
more information visit
https://www.as-invest.co.il/en/about/about-us/
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS)
empowers the financial sector, with a focus on insurance, to
transform and become digital, innovative, and agile. Backed by 40
years of industry expertise, Sapiens offers a complete insurance
platform, with pre-integrated, low-code solutions and a cloud-first
approach that accelerates customers' digital transformation.
Serving over 600 customers in 30 countries, Sapiens offers insurers
across property and casualty, workers' compensation and life
markets the most comprehensive set of solutions, from core to
complementary, including Reinsurance, Financial & Compliance,
Data & Analytics, Digital, and Decision Management. For
more information visit www.sapiens.com or follow us
on LinkedIn.
Media Contact
Shay Assaraf
Chief of Marketing, Sapiens
Shay.assaraf@sapiens.com
Investor's Contact
Kimberly Rogers
Managing Director, Hayden IR
+1 541-904-5075
kim@HaydenIR.com
Forward Looking Statements
Certain matters discussed in this press release that are
incorporated herein by reference are forward-looking statements
within the meaning of Section 27A of the Securities Act, Section
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location in Israel and our status
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the risks discussed under the heading "Risk Factors" in our most
recent Annual Report on Form 20-F, in order to review conditions
that we believe could cause actual results to differ materially
from those contemplated by the forward-looking statements. You
should not rely upon forward-looking statements as predictions of
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in the forward-looking statements are reasonable, we cannot
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events and circumstances reflected in the forward-looking
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statements to actual results or to changes in our
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SOURCE Sapiens International Corporation