Tier-One Bank in South Africa Extends Relationship with Sapiens CoreSuite for Life & Pensions for New Line of Business
Sapiens CoreSuite for Life & Pensions was chosen for its speed to market and quick implementation time
Holon, Israel, September 07, 2023—Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that a tier-1 bank in South Africa, a long standing customer of Sapiens, is extending their use of Sapiens CoreSuite for Life & Pensions to launch their Group Risk proposition.
The expanded use of Sapiens CoreSuite for Life & Pensions follows the bank’s strategic intent to launch new and exciting products to their customer base. The adoption of Sapiens CoreSuite for Life & Pensions fulfills the requirement for a full and robust policy administration solution. CoreSuite will enable the bank to build a full end-to-end, future-proofed solution for managing its group risk business, replacing the need for onerous existing business processes. The timeline for the project, which included analysis, design and delivery to production took only eight months.
“We are proud that the bank chose to expand its relationship with Sapiens because of their trust in our established track record and our live customers in the region” said Roni Al-Dor, Sapiens CEO and President. “Our focus on speed to market for a quick product launch perfectly fit the needs of the bank.”
Sapiens CoreSuite is a software solution for end-to-end core operations and processes. An award-winning policy administration system, it supports individual and group products across life, health, wealth & retirement.
Sapiens International Corporation (NASDAQ and 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.
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