The expanded agreement will now include
Sapiens Cloud Services for a ten-year period
HOLON, Israel, July 13, 2023 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that LocalTapiola Life (LT), Finland's fourth-largest life insurer, has
chosen to expand its partnership and will include Sapiens Cloud
Services for a ten-year period. This underscores Sapiens' earlier
agreement to implement LT's core system transformation by replacing
its current eight separate Policy Administration Systems with
Sapiens CoreSuite for Life and Pensions.
Sapiens was selected for its proven experience in complex
insurance ecosystem integrations, providing an end-to-end,
cloud-first, digitally enhanced platform for individual and group
products, across Life, Wealth and Retirement. LT has seen customer
behaviour changing rapidly, and digitalization is a key step in
enhancing efficiency while simultaneously providing upgraded,
seamless customer service and new products.
"Sapiens are helping us remain highly competitive by empowering
us to develop digital new business while consolidating our legacy
business at the same time," said Pasi
Haarala, CEO LocalTapiola Life. "We look forward to a
continued fruitful and rewarding relationship with Sapiens for many
years to come."
Sapiens CoreSuite for Life and Pensions will empower
LT Life with a wide range of fully embedded data management and
analytics capabilities. The LT implementation is underpinned by the
market-leading Sapiens Intelligence data and analytics module that
pools the insurer's data to provide actionable insights, improving
underwriting risk selection and reducing claims expense ratios.
Sapiens Cloud Services empowers companies to focus on core business
objectives, eliminating IT bottlenecks, with support and
maintenance services providing proactive management.
The LT implementation makes use of the Sapiens One-Hand-to-Shake
model, whereby Sapiens provides, via its SaaS solution, the
implementation, support and maintenance services, as well as Cloud
hosting and services. LT will benefit from the proven and secure
Cloud services provided by Sapiens and from their comprehensive
solutions and platform expertise.
"LocalTapiola Life has been Sapiens' very first implementation
in Finland," said Roni
Al-Dor, Sapiens President & CEO. "As our relationship deepens
and expands over time, we will continue to engage in ongoing
development according to local regulations and global innovations,
based on our continuous roadmap and new releases."
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.
About LocalTapiola Group
LocalTapiola Group is a mutual group of companies owned by its
customers. LocalTapiola is a partner in lifelong security for its
customers. Group offering features an increasing variety of
forecasting, security and well-being solutions that make the
everyday life of Finns safer, more successful financially and
healthier. LocalTapiola serves private customers, entrepreneurs,
corporate customers, farmers and organisations. LocalTapiola's
products and services cover nonlife, life and pension insurance, as
well as investment and saving services. We are also professionals
in corporate risk management and welfare in the workplace.
LocalTapiola's network of regional companies consists of 19
regional mutual insurance companies.
For more information visit www.lahitapiola.fi.
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 more than 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
|
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