Sapiens Announces Enhancement of its Life and Annuities Insurance Suite

HOLON, Israel, July 26, 2017

Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, with a growing presence in the financial services sector, today announced the general availability of the Sapiens ALIS 7 policy administration suite (Sapiens ALIS) for life and annuity carriers worldwide.

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The rich software suite enables insurers to onboard and administer individual, group and employee benefits business ‒ and support multiple lines of business for life, investment and savings, annuities and medical products ‒ from a single, unified platform. The new version also features full pre-integration to the Sapiens Digital Suite, including agent and consumer portals, data warehouse and Sapiens' advanced analytics solution.

"The enhanced suite was designed to meet rapidly changing industry needs. Individuals, employees and group members will all enjoy a user-friendly experience they have become accustomed to in their day-to-day lives, while allowing insurers to benefit from the replacement of ineffective and costly legacy systems," said Alex Zukerman, vice president of product marketing and strategy, Life division, Sapiens. "Consolidation and modernization will lead to operational cost savings and greater efficiency for life insurers, powered by robust portal and business intelligence functionalities."

Continued Zukerman: "This comprehensive suite has already been adopted by a leading insurer and offers a modular, business service-based proposition, covering all aspects of the life insurance value chain. Sapiens ALIS 7 aligns with Sapiens' overall strategy of helping our customers benefit from fast time-to-value when executing their digital strategies and achieving full digital transformation."  

Sapiens' suite features service-oriented architecture (SOA) business services, to allow easy and rapid integration to any device with any technology, in accordance with the business logic of the operation. It also includes enhancements covering the configuration and set-up for products, processes and business rules. These features, along with pre-defined product templates, are expected to speed time to market for insurers.