U.S. Fortune-500 Insurer Chooses Sapiens to Digitally Transform Their Annuity Business
Sapiens IllustrationPro will improve the company’s speed-to-market by up to 30%
Rochelle Park, N.J., May 18, 2023—Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that an industry-leading Midwest (U.S.) Life & Annuities insurer with a nationwide network of financial advisors has chosen Sapiens to modernize its annuity business line.
The insurer’s current system is being replaced by Sapiens IllustrationPro to take advantage of its robust user tool set and ability to develop new products quickly and efficiently. IllustrationPro will empower their sales distribution with award-winning user experience and functionality with a compliant illustration and quoting solution for new and existing business. Its implementation in Sapiens Cloud Service on Azure will ensure access to powerful software and smarter, faster, and more seamless upgrades.
“We are excited to have the opportunity to enable this company to achieve their time-to-market goals,” said Jamie Yoder, Sapiens North America President & General Manager. “The current market conditions are especially exciting for Life and Annuity insurers, and Sapiens is uniquely positioned to help them compete from a place of faster and more personalized service.”
Sapiens IllustrationPro for Life & Annuities is a modern, cloud illustration and quoting solution enabling rapid, responsive, and intuitive experiences for life, annuities, and health insurers and their clients. It gives insurers the ability to bring new products to market faster with dynamic quotes and complex, full illustrations.
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 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.
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