Absa Life Selects Sapiens to Modernize its Non-Underwritten Life Systems

Sapiens CoreSuite for Life and Pensions coupled with Sapiens Cloud Services provides a turnkey solution for expanding Absa’s life business.

(Image source: Absa Life website.)

Absa Life (Johannesburg, a subsidiary of Absa Bank), the leading life insurance provider in South Africa in the Consulta South African Customer Satisfaction Index (SA-csi), has chosen Sapiens International Corporation (Holon, Israel) as the partner to lead its non-underwritten products system transformation. Absa Life intends to implement Sapiens Digital Front End, CoreSuite and BI Intelligence for Life and Pensions, supported by Sapiens Cloud Services, running on AWS, according to a Sapiens statement.

Absa Life selected Sapiens for the its proven experience in complex banking ecosystem integrations and bancassurer implementations, providing an end-to-end, cloud-first, digitally enhanced platform which will enable the business to modernize and provide Absa Life a platform for growth, according to the vendor statement.

Absa Life chose Sapiens as a partner following the company’s selection of Sapiens IDITSuite and ReinsuranceMaster for Short Term business, coupled with a recent DigitalSuite proof of concept in the Life space. Sapiens says the open architecture nature of CoreSuite will expedite new business initiatives and drastically speed up Absa Life’s multi-channel go-to-market strategy.

Roni Al-Dor, President and CEO, Sapiens.

Sapiens says its CoreSuite for Life and Pensions will empower Absa Life with a wide range of fully embedded data management and analytics capabilities. Its inherent integration of Sapiens API Conductor (ACE) ensures digitalization is built-in and APIs can be configured, managed and orchestrated to rapidly achieve digital initiatives, the vendor says.

Growth and Modernization

“We are proud to extend our existing partnership with Absa and once again be their vendor of choice for this turnkey Core non-underwritten Life transformation project,” comments Roni Al-Dor, President & CEO, Sapiens. “Sapiens will closely support Absa throughout their modernization and transformation program,” said. “Our comprehensive solutions and strong Cloud and Operations infrastructure will enable Absa to grow their business by rapidly entering new markets and providing their end-customers with best-in-class digital journeys whilst helping modernize their existing legacy portfolios.”

Sapiens describes its CoreSuite as empowering insurers to quickly and easily tailor and launch new life insurance products through a variety of low-code/no-code configuration tools as well as support their existing product portfolios. The vendor says it streamlines premium payment processes and client management features, in addition to further enhancements for Policy Service transactions driven from the at-a-glance Policy Dashboard. Sapiens says its Cloud Services offering empowers companies to focus on core business objectives, eliminating IT bottlenecks, with support and maintenance services providing proactive management.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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