Republic Life Goes Live as Caribbean’s First Digital DTC Carrier with Sapiens Platform

The Port of Spain-based carrier has implemented Sapiens’ Insurance platform on Microsoft Azure cloud to enable rapid launch of products and accelerate market expansion.

(Image source: Republic Life home page.)

Republic Life, a Caribbean-based company (Port of Spain, Trinidad & Tobago), has gone live with Sapiens International Corporation’s (Holon, Israel) Sapiens CoreSuite for Life & Annuities, and Sapiens Digital Suite hosted on Microsoft Azure cloud.

Robert Soverall, Managing Director, Republic Life Insurance.

A Sapiens statement says that the global software vendor’s solutions enabled Republic Life Insurance to become the first Caribbean insurer to provide a fully digital, direct-to-consumer offering. The digital-by-design process allows consumers to acquire life insurance policies, with point-of-sale decisioning, and service their policies through the innovative customer portal. The solution will also allow Republic Life Insurance to launch new products quickly and meet the ongoing administrative needs of customers, ensuring exceptional service, which will accelerate their growth and expansion in the marketplace, the Sapiens statement adds.

“Our main objective was to disrupt the life insurance market whilst offering an enhanced customer experience and create an entirely digital insurance company,” comments Robert Soverall, Managing Director, Republic Life Insurance. “Sapiens’ state-of-the-art, digital insurance platform empowered us to be the first Caribbean insurer to achieve that, and we were able to implement within 11 months. What really stood out is Sapiens’ innovative customer portal and their dedicated implementation and technical support teams who fully share our vision for success.”

Region’s First Fully Online Digital Customer Experience

Roni Al-Dor, President and CEO, Sapiens.

“We are delighted to enable Republic Life Insurance to make a historic impact in the Caribbean life insurance market with the region’s first fully online, digital customer experience,” comments Roni Al-Dor, President & CEO, Sapiens. “This ground-breaking insurance launch exemplifies Sapiens’ commitment to deliver best-in-class solutions and a mutually rewarding team experience. We are confident that Republic Life Insurance has the tools in place to reduce the insurance/protection gap through innovative customer experiences.”

Sapiens describes DigitalSuite as a comprehensive, cloud-native, future-proof digital engagement suite specifically designed to enable, sustain and grow insurance businesses through its configurable and dynamic, persona-based portals that revolutionize the customer experience. The vendor describes Sapiens CoreSuite for Life & Annuities as a state-of-the-art, digital software solution for end-to-end core operations and processes, supporting individual and group products across life, health, wealth & retirement.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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