Sapiens CoreSuite for Life and Pensions
coupled with Sapiens Cloud Services provides a turnkey solution for
expanding Absa's life business
HOLON, Israel, May 31, 2023 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
announced today that Absa Life, the leading life insurance provider
in South Africa in the Consulta
South African Customer Satisfaction Index (SA-csi), has chosen
Sapiens as their partner to lead their non-underwritten products
system transformation. Absa Life
intends to implement Sapiens Digital Front End,
CoreSuite and BI Intelligence for Life and Pensions, supported
by Sapiens Cloud Services, running on AWS.
Sapiens was selected for its proven experience in complex
banking ecosystem integrations and bancassurer implementations,
providing an end-to-end, cloud-first, digitally enhanced platform
which will enable the business to modernize and provide
Absa Life a platform for growth.
Absa Life chose Sapiens as a
partner following the selection of Sapiens IDITSuite and
ReinsuranceMaster for Short Term business coupled with a recent
DigitalSuite proof of concept in the Life space. The open
architecture nature of CoreSuite will expedite new business
initiatives and drastically speed up Absa
Life's multi-channel go-to-market strategy.
Sapiens CoreSuite for Life and Pensions will empower
Absa Life with a wide range of fully
embedded data management and analytics capabilities. Its inherent
integration of Sapiens API Conductor (ACE) ensures digitalisation
is built-in and APIs can be configured, managed and orchestrated to
rapidly achieve digital initiatives.
"We are proud to extend our existing partnership with Absa and
once again be their vendor of choice for this turnkey Core
non-underwritten Life transformation project. Sapiens will closely
support Absa throughout their modernisation and transformation
programme," said Roni Al-Dor,
Sapiens President & CEO. "Our comprehensive solutions and
strong Cloud and Operations infrastructure will enable Absa to grow
their business by rapidly entering new markets and providing their
end-customers with best-in-class digital journeys whilst helping
modernize their existing legacy portfolios."
Sapiens CoreSuite empowers insurers to quickly and easily tailor
and launch new life insurance products through a variety of
low-code/no-code configuration tools as well as support their
existing product portfolios. It streamlines premium payment
processes and client management features, in addition to further
enhancements for Policy Service transactions driven from the
at-a-glance Policy Dashboard. Sapiens Cloud Services empowers
companies to focus on core business objectives, eliminating IT
bottlenecks, with support and maintenance services providing
proactive management.
About Absa Bank Limited
Absa Bank Limited ('Absa Bank') is a wholly-owned subsidiary of
Absa Group Limited, which is listed on the Johannesburg Stock
Exchange and is one of Africa's
largest financial services groups. Absa offers a range of retail,
business, corporate and investment banking and wealth management
and insurance products and services primarily in South Africa and Namibia.
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS)
empowers the financial sector, with a focus on insurance, to
transform and become digital, innovative, and agile. With more than
40 years of industry expertise, Sapiens' cloud-based SaaS insurance
platform offers pre-integrated,
low-code capabilities across core, data and digital
domains to accelerate our customers' digital transformation.
Serving over 600 customers in 30 countries, Sapiens offers insurers
across property and casualty, workers' compensation, and
life insurance 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 https://sapiens.com or
follow us on LinkedIn.
Media and Investor's Contact :
Yaffa Cohen-Ifrah
Chief Marketing Officer &
Head of Investor Relations, Sapiens
yaffa.cohen-ifrah@sapiens.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
21E of the Exchange Act and the safe harbor provisions of the U.S.
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or achievements expressed or implied by the forward-looking
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we have acquired through the implementation of our M&A growth
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changes in regulatory requirements, wide-spread viruses and
epidemics like the recent novel coronavirus pandemic, which
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location in Israel and our status
as a Cayman Islands company.
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the risks discussed under the heading "Risk Factors" in our most
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should not rely upon forward-looking statements as predictions of
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