Sapiens Establishes Presence in Finnish Market with LocalTapiola Life, Fourth Largest Life Insurance Company in Finland
Sapiens was chosen as the sole vendor, solution includes: CoreSuite, Sapiens Intelligence and Sapiens Cloud Services and Cloud Hosting.
Holon, Israel, December 14, 2022—Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced with LocalTapiola (LT), Finland’s -second largest insurance company , the launch of the new Policy Administration System. The new Policy Administration System leverages Sapiens award-winning CoreSuite, Sapiens Business Intelligence, Sapiens Cloud Services (SCS) and Cloud Hosting to replace the 8 Policy Administration Systems (PAS) with a next-generation digital experience.
The consolidation of 8 PAS system into a single seamless digital experience will reduce technology debt, support full compliance with statutory requirements and legislation as well as meet customer demands and dynamic behavior. As a result, LocalTapiola will be customer-centric with a next-generation customer experience and added-value, positioning the company as a digital pioneer in the region. Furthermore, the new Sapiens-based PAS system will significantly reduce IT debt and increase the speed-to-market of new products and solutions.
“Partnering with Sapiens provides LocalTapiola Life the agility and abilities to provide our customers a unique digital experience. An experience with the customer in mind, positioned at the forefront of the company back with the technology to deliver a game-changing policy administration system. Sapiens presence in the Nordic market makes it a perfect partner that brings both global technology and knowledge with local understanding and service” says Pasi Haarala, CEO LocalTapiola Life company.
“Establishing our presence in the Finnish market with LocalTapiola Life is a true honor and further strengthens our strategic presence in the Nordic region ” says Ron Al-Dor, CEO of Sapiens. “This partnership signifies the true spirit of digitalization and LocalTapiola Life as the flagship project in Finland”.
Sapiens solutions offer a dynamic, digital engagement and enablement platform for insurers to provide a unified, omni-channel experience. The flexible, component-based platform can be leveraged together with Sapiens’ core solutions or in addition to other (non-Sapiens) solutions.
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.
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 more than 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 https://sapiens.com or follow us on LinkedIn.
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Tally Kaplan Porat
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