Tier-One South African Bank Goes Live Extending its Sapiens Relationship into New Territory
Sapiens IDITSuite core solution for short term (P&C) business was chosen to improve time-to-market and reduce complexity for new insurance products
Holon, Israel, August 23, 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 went live with Sapiens IDITSuite for Property & Casualty in Namibia as the core system for its short term (non-Life) insurance business there. The bank has already been using IDITSuite for its core short term operations in South Africa, in addition to Sapiens CoreSuite for Life & Pensions for its Life & Annuities business.
IDITSuite was chosen by the bank for its expansion into Namibia based on its satisfaction with the existing relationship with Sapiens and the successful implementation of Sapiens IDITSuite in South Africa. Sapiens will operate the bank’s core short term systems in Namibia, in addition to a book of business recently acquired there by the bank from another South African insurance company. At this stage, the implementation will focus on personal lines of business, including motor, home cover, portable possessions, home contents, and personal liability.
“We are extremely pleased to see our successful implementation in South Africa result in a satisfied customer electing to extend our partnership into a new region,” said Roni Al-Dor, Sapiens President and CEO. “This is the realisation and beginning of a broader African expansion strategy from an operational base in South Africa.”
Sapiens IDITSuite is a digitally led, award-winning, end-to-end, cloud-based modular insurance platform; supporting personal and commercial lines of business from acquisition to billing, claims and renewal.
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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