(Photo credit: Ximonic.)
Sapiens International Corporation (Holon, Israel) reports that a leading insurer in the Nordic region has selected a wide range of Sapiens P&C and reinsurance solutions to transform its operating environment to take advantage of modern technologies and digital capabilities, to deliver an enhanced customer experience, improved time to market, reduced operational risk and increased operational efficiencies. The agreement is valued at approximately $20 million for licensing and services over a period of 2 years, and includes post go-live managed services worth approximately $10 million over 5 years, according to the vendor.
Sapiens’ solutions selected by the insurer include the IDIT Insurance Suite for policy, claims, and billing; the Sapiens Reinsurance suite of products and the Sapiens INTELLIGENCE and Sapiens PORTAL components of the Sapiens Digital Suite. The insurer’s processing environment will be managed via Sapiens’ hosted services, leveraging the Microsoft Azure cloud environment.
Rigorous Selection Process
Following a rigorous selection process that considered insurance core solutions available globally, the company selected Sapiens due in large part to the vendor’s ability to assume responsibility as a single source to address all of the insurer’s needs: technology, software solutions, hosted services and expertise, Sapiens reports. The insurer was also impressed with Sapiens’ proven delivery record and commitment to commercial markets, including the Nordic market, according to the vendor.
“We are delighted to have been selected as a partner for this significant project,” said Roni Al-Dor, president and CEO of Sapiens. “This is a great opportunity for us and demonstrates the strength of our solutions, delivery capabilities and commitment to the global and Nordics market. We anticipate that this will be a long and mutually beneficial relationship.”