(Image credit: Yathin S. Krishnappa.)
Hollard Group Risk, an independent specialist risk manager based in South Africa (a division of Hollard Life Assurance Company Limited, Johannesburg), has selected Sapiens CoreSuite for Life & Pension (formerly known as “Sapiens ALIS”) to transform its core business, group risk, according to an announcement from Sapiens (Holon, Israel), a global provider of software solutions for the insurance industry.
“During the selection process, our goal was to improve Hollard Group Risk’s position in the ultra-competitive South African market via a modern and flexible group risk solution that would enable us to provide an enhanced customer experience,” commens Franco Patrizi, managing director, Hollard Group Risk. “Sapiens CoreSuite for Life & Pension is a business-focused solution that can handle our existing corporate and binder business volumes, with ample room to accommodate expected growth. Hollard Group Risk also expects CoreSuite’s efficient processing to drive down our operational costs via streamlined automation for customers, alliance partners and our personnel.”
Sapiens CoreSuite for Life & Pensions features enhanced group functionality that is designed to flexibly and speedily handle enrolment, changes in membership, reconciliation and claim processing through automation, according to the vendor. Sapiens says CoreSuite enables digital integration to facilitate self-service by members, employers or third-party administrators. The vendor adds that CoreSuite’s advanced UX simplifies administration for users, providing intuitive dashboards and process management.
Expansion of Strategic Relationship
“This is an expansion of our strategic and long-term partnership with Hollard, who originally chose Sapiens back in 2014 for a reinsurance solution,” comments Roni Al-Dor, Sapiens’ president and CEO. “Sapiens personnel have been working diligently to ensure that our group functionality is innovative and will support providers’ digital journeys. This selection is positive affirmation that we are fulfilling those goals.”
Sapiens describes CoreSuite for Life & Pension as a flagship solution designed to enable insurance providers to quickly and efficiently address the challenges of a highly regulated and increasingly competitive marketplace. The vendor further characterizes the offering as an end-to-end, core solution suite supports the complete policy lifecycle across a wide variety of products in the life & pension market. “This insurance software uniquely combines functional maturity and robustness gained through decades of global success, with cutting-edge innovation and modern technology,” a vendor product description says.