(Image credit: Daniela Dimitrova.)
Sapiens International Corporation, (Holon, Israel), a global provider of software solutions for the insurance industry, has announced the general availability of its upgraded Sapiens CoreSuite for Life & Annuities for North American customers and Sapiens CoreSuite for Life & Pension for clients in the EMEA and APAC regions.
Version 9 features a new and improved SmartSuite solution, with a library of pre-configured products and processes, including four new completely configured smart packs that accelerate time to market for launching products, according to a vendor statement. Sapiens says that all smart packs are fully documented inside interactive software, rather than static documents. The vendor adds that SmartSuite solution includes an advanced testing framework, with more than 5,000 automated test cases that ensure faster go to market for customers.
SmartSuite also includes an improved configuration tool that Sapiens says enables business users to independently set up and tailor insurance products with no coding required, speeding up the process of launching new products, or product updates.
The CoreSuite solution is designed to help accelerate launches for life insurance providers with streamlined and simplified business processes, and available, open architecture. The suite now offers one-click, cloud-native architecture; version 9 supports full cloud deployment on pods via dockers for quick and easy container provisioning, networking, load-balancing, security and scaling, the vendor says. Also, Excel as a service (EaaS), an innovative microservice, was added to this upgraded version. This microservice enables calculations on live integrated Excel sheets, without the need for compilation.
This latest release offers many additional enhanced features, including the following by the vendor’s description:
- Improved DevOps, through the cloud-native architecture and technological upgrades for deployment and monitoring
- Tailored digital journeys with version 9’s new digital adapters and available APIs
- An improved suite of dashboards and reports across all policy lifecycle elements from Sapiens Intelligence, our advanced analytics tool
- Performance benchmarks for managing large-scale group transactions, to ensure that bulk transactions do not negatively impact performance
“The Sapiens team has again proven its commitment to meeting market needs and strengthening our core offerings,” comments Roni Al-Dor, Sapiens president and CEO. “We continue to invest in our product portfolio and collaborate with customers to bring innovation that will empower Sapiens’ customers.”
Sapiens describes its life suite as supporting multiple lines of business for both individual and group life, annuities, investments and medical products in a single, end-to-end system. It offers a 360-degree view of the customer from the policy administration system, across all distribution channels and communication streams.