(Image credit: JanneG.)
MAPFRE MSV Life p.l.c. (MMSV), the largest provider of life insurance protection, long term savings and retirement planning in Malta, has implemented Sapiens’ (Holon, Israel) life & pension core suite and digital solutions as part of a core and digital transformation project. Sapiens reports that the project is the first of its kind in MAPFRE to be wholly cloud supported by the Azure Cloud platform, with a view toward MMSV enjoying the highest level of flexibility, security and business continuity for its core business systems and facilitating a rapid digital transformation project. Sapiens announced in July 2019 that MMSV had engaged the vendor.
MMSV’s engagement with Sapiens includes implementation and integration of an end-to end solution for Life and Pension, including a robust policy administration system, integrated digital API layer and portals, as well as an analytics solution to support self-sufficiency, process reviews and improve business conclusions. Sapiens says its solutions will enable MMSV to pursue growth in its chosen markets, while simultaneously enhancing data quality and providing vital business insights. MMSV will consolidate multiple legacy systems using Azure cloud, thereby reducing risk and cost.
Sapiens reports that the first phase of implementation was completed after only 15 months, despite the interruption of the COVID-19 global pandemic. This first phase will consolidate MMSV’s Protection onto a single administration platform. The next phase will consolidate MMSV’s Investments and Group business offering.
“MAPFRE MSV has achieved considerable business success in the Maltese Life Market in recent years.” comments Luciano Anastasi, CIO, MMSV. “Our continued partnership with Sapiens provides us with the necessary technology and business tools we need to rapidly scale up our activities, simplify our legacy programs and offer the best service possible to our customers.”
Leveraging Malta Success for Other MAPFRE Territories
“Sapiens Core Suite for Life and Pensions will streamline our operations, integrating seven distinct systems all into one easily accessible cloud-based platform to maximize our efficiency,” continues Anastasi. “We intend on leveraging our success in the Maltese market to roll out additional services across MAPFRE territories.”
“Sapiens is delighted to contribute to the work of MMSV and are excited to see that MMSV have gone live with our Life and Pensions platform,” says Tal Sharon, president of the Sapiens Life division. “Our digital solutions equip our customers with the business insights and capabilities they need to excel in an increasingly digital marketplace. We are proud to have supported MSV on their digital transformation journey and look forward too many more years working closely together.”