(Story Gardens in Holon, Israel. Source: City of Holon.)
Sapiens International Corporation (Holon, Israel), a global provider of insurance software and services, has announced the general availability of the Sapiens ALIS 7 policy administration suite for life and annuity carriers worldwide.
ALIS enables insurers to onboard and administer individual, group and employee benefits business—and to support multiple lines of business for life, investment and savings, annuities and medical products—from a single, unified platform, according to the vendor’s statement on the new release. The ALIS 7 suite 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 and deliver fast time-to-value for digital transformation, according to Alex Zukerman, VP, product marketing and strategy, Life division, Sapiens. “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,” Zukerman comments. “Consolidation and modernization will lead to operational cost savings and greater efficiency for life insurers, powered by robust portal and business intelligence functionalities.”
Zukerman reports that the 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,” he says.
Enhanced Product Speed-to-Market
Sapiens’ suite features service-oriented architecture (SOA) business services, to allow easy and rapid integration to any device with any technology, consistent with the business logic of the operation, according to the vendor. Sapiens says that the new version 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,” the vendor statement says.
“I would like to thank all of the Sapiens employees, who worked tirelessly on this innovative version, and our Sapiens ALIS clients for their ongoing feedback,” comments Roni Al-Dor, Sapiens president and CEO. “Sapiens continues to invest in our flagship life suite, to continually increase the business value we deliver to our customers and partners.”