(Image source: Altshuler Shaham homepage.)
Altshuler Shaham Investment House, an Israeli provident and pension fund, has upgraded its Life and Pensions solution, to accelerate and support its rapidly growing pension funds business. The firm’s adoption of Sapiens’ (Holon, Israel) Life and Pension platform will dramatically improve Altshuler Shaham’s business processes and operational costs, according to a Sapiens statement. The vendor says its platform was selected for its ability to meet Altshuler’s business needs as well as Israeli regulatory requirements.
“We are pleased to continue our fruitful cooperation with Sapiens,” comments Anat Knafo Tavor, CEO, Altshuler Shaham Provident Funds and Pension. “The choice of Sapiens stemmed from its rich experience in the field of pensions and technology and in Israeli local regulations. The implementation of the system, which is currently taking place, is part of our growth strategy, and our goal is to continue to lead the pension market in Israel.”
“Sapiens is extremely pleased to be a trusted partner of Altshuler Shaham and to empower them to achieve such outstanding growth in the pension fund market,” comments Roni Al-Dor, President and CEO, Sapiens. “Our 40-year industry expertise demonstrates our commitment to excellence in pension fund solutions.”
“We are proud of Altshuler Shaham’s choice to streamline and expand its operations with Sapiens’ advanced solutions, thus becoming a leading player in the field of pension fund management in Israel,” adds Tal Sharon, Director, Sapiens Israel.
The vendor describes the Sapiens Life and Pensions solution and digital facilitation of pension claims as delivering a simplified, automated and integrated process for all parties involved (the insurance company, government agencies and legal representatives). The solution offers a dramatic improvement in straight-through processing and a significant decrease in claims calls and processing times, the vendor adds.
In the case of Altshuler Shaham—which manages pension assets for 2.4 million customers of more than NIS 200 billion—Spaiens says the upgrade of its pension management platform will support its steady growth trend. The vendor says new platform addresses both the changing business needs and the requirements of Israeli regulation, and will enable the company to provide an even more flexible and efficient service for its customers.