Sapiens CoreSuite for Life and Pensions
coupled with Sapiens Intelligence, hosted by Sapiens Cloud Services
will support Aktia's ambitions to expand their Life
business
HOLON, Israel, Aug. 16,
2023 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global
provider of software solutions for the insurance industry,
announced today that Aktia Life, one of Finland's top life insurers with approximately
100,000 customers, has chosen Sapiens as their partner to lead
their core system transformation via
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 Pension insurances. Aktia has
seen recent rapid changes in customer behaviour with digitalization
being a critical step towards enhancing efficiency and
simultaneously upgrading towards seamless customer service, along
with new product offerings.
"Working with Sapiens has already been very rewarding for our
company and we are looking forward for the next phase," said
Riikka Luukko, Aktia Life CEO. "The
partnership with Sapiens supports our strategic growth and renewal
goals, including our goal to offer excellent customer and employee
experience. With this we are able to optimize both customer and
business value and ensure our business continuity."
Sapiens CoreSuite for Life and Pensions will empower
Aktia Life with a wide range of fully embedded data management and
analytics capabilities. The Aktia 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 Aktia implementation makes use of the Sapiens
One-Hand-to-Shake model, whereby Sapiens provides, implementation,
support and maintenance services, as well as Cloud hosting and
services via its SaaS model.
"We are proud to partner with Aktia Life to help them achieve
their digitalization goals," said Roni
Al-Dor, Sapiens President & CEO. "Aktia Life informed us
that its new life business model target is to implement a modern
PAS platform to reduce technology debt in order to be fully
compliant with statutory requirements and legislations."
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 Aktia Life Insurance Ltd
As part of the Aktia Group, Aktia Life Insurance Ltd is a
company responsible for the production of customer friendly life
insurance solutions. Aktia Life Insurance Ltd has a long and
extensive experience of life insurance activities in Finland. The company has approximately 100,000
private and corporate customers and several partners in the finance
sector. They currently employ about 70 people.
About the Aktia Group
Aktia is a Finnish asset manager, bank and life insurer that has
been creating wealth and wellbeing from one generation to the next
for 200 years. They serve customers in digital channels everywhere
and face-to-face in their offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Aktia's
award-winning asset management business sells investment funds
internationally. They employ approximately 900 people around
Finland. Aktia's assets under
management (AuM) in 2022 was EUR 13.5
billion, and the balance sheet total was EUR 12.4 billion. Aktia's shares are listed on
Nasdaq Helsinki Ltd (AKTIA). For more information
visit aktia.com.
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
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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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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may frustrate our ability to realize revenues and/or profits from
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degree of our success in retaining our existing customers or
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risks associated with our global sales and operations, such as
changes in regulatory requirements, wide-spread viruses and
epidemics like the recent novel coronavirus pandemic, which
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as a Cayman Islands company.
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materialize, our actual results may differ materially from those
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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
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should not rely upon forward-looking statements as predictions of
future events. Although we believe that the expectations reflected
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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SOURCE Sapiens International Corporation