(Image credit: Kirk Fisher.)
MAPFRE MSV Life p.l.c. (MSV Life), the largest provider of life insurance protection, long term savings and retirement planning in Malta, has selected Sapiens’ (Holon, Israel) life & pension core suite and digital solutions for a core and digital transformation project. The project includes the implementation and integration of Sapiens CoreSuite for Life & Pension (formerly Sapiens ALIS) and Sapiens Intelligence for Life & Pension, as well as the deployment over the cloud of Sapiens AgentConnect for Life & Pension (formerly Sapiens PORTAL).
“MAPFRE MSV Life has relied upon two separate systems to cover the scope of our various lifelines of business, including group and individual,” comments David G. Curmi, CEO of MAPFRE MSV Life. “Sapiens’ ability to serve as a one-stop-shop and consolidate our disparate systems was a crucial factor in our selection. We will decommission our legacy systems and transform our business with Sapiens’ innovative core suite, which will reduce time to market for future product roll-outs and overhead costs.”
“Our organization will also benefit from actionable business intelligence insights, as well as the ability to further empower our agents via Sapiens’ portal solution,” Curmi adds.
Change without Business Counter-Productive Disruption
“Sapiens prides itself on being able to meet the end-to-end needs of our clients,” comments Roni Al-Dor, president and CEO, Sapiens. “The pre-integration between our core suites and digital offerings, as well as our secure cloud deployment, is attractive to life and pension insurers seeking to transform. They can quickly digitalize and make wholesale changes, without disrupting their core business. Sapiens is pleased to partner with MAPFRE MSV Life and we look forward to years of fruitful collaboration.”
The vendor describes Sapiens CoreSuite for Life & Pension as its flagship solution designed to enable insurance providers to quickly and efficiently address the challenges of a highly regulated and increasingly competitive marketplace. “The 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 statement says.
Sapiens AgentConnect for Life & Pension is designed to empower agents with full lifecycle enablement, including the ability to manage their pipeline, sell policies to their consumers and provide top-level customer service in real-time. Agents also possess a holistic view of their business performance overall and benefit from full access to all their remunerations, payments, commission transactions and statements, according to the vendor.
Sapiens Intelligence for Life & Pension offers providers what the vendor characterizes as complete analytic capabilities. The solution consists of two pre-integrated components:
- SmartStore: an intelligent data store that unifies and houses data.
- InfoMaster a set of analytical applications, offering a wide range of data visualization and analytical capabilities through reporting, dashboards and data discovery.
MSV Life is a subsidiary of MAPFRE (Madrid), the largest insurer in the Spanish market, the third largest insurer in Latin America and one of the 10 largest European insurance groups in terms of premium volume. MAPFRE has 5,300 offices around the world with more than 35,000 employees, 86,500 brokers and over 29 million clients.