(Image source: Fitbit.)
Global insurance core software provider Sapiens International Corporation has entered into a partnership with Life.io, provider of a digital transformation platform that monitors and analyzes policyholder behavior and encourages a healthier lifestyle via incentives. Through the partnership, the Life.io platform has been integrated with Sapiens ALIS core life insurance policy administration suite.
This partnership signals the next step in Sapiens’ digital evolution,” comments Roni Al-Dor, Sapiens president and CEO. “Policyholders expectations of insurers are changing quickly. We will continue to strive to stay a step ahead of industry and consumer trends by offering our customers an innovative and complete digital suite that will keep pace with new challenges and help transform the manner in which they do business.”
Sapiens describes the Life.io platform as producing a wealth of data that enables life carriers to better understand their client base. With the greater insight into policyholders and their lifestyles provided through Life.io’s connection with various wearables and health applications, carriers will have new opportunities for customer engagement, a Sapiens statement says. Life.io’s configurable SaaS platform will extend Sapiens’ data analytics capabilities and offer a personalized customer engagement model, particularly for Millennials, who expect a higher level of service and connectedness than previous generations, Sapiens says.
The vendor suggests that the integration of Life.io with the policy administration suite will open the way to carriers developing differentiating products and services tailored to customer needs, while helping to encourage healthier behavior. Sapiens says that the benefits of the integration to its clients will include reduced costs, improved customer loyalty and retention, and greater efficiency.
New Cross-Sell Opportunities
“We are pleased to partner with Sapiens to offer insurers the combination of Sapiens ALIS, a modern core policy administration solution, with Life.io’s innovative customer engagement capabilities, delivering on our objective of policyholders getting healthier and insurers getting smarter,” said Jon Cooper, founder and CEO, Life.io.
“During my frequent conversations with life and annuity providers, they often mention the need to foster improved customer communication and engagement, to better retain customers and provide new cross-sell opportunities,” comments Mike McCurley, executive VP, North America, Sapiens. “The combined capabilities of Sapiens ALIS and Life.io, along with the rest of Sapiens’ digital suite, will enable life carriers to offer their customers a digital, end-to-end experience.”