Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, has announced that Republic Life, a Caribbean-based company, has gone live with Sapiens CoreSuite for Life & Annuities, and Sapiens Digital Suite hosted on Microsoft Azure cloud.
Sapiens' solutions enabled Republic Life Insurance to become the first Caribbean insurer to provide a fully digital, direct-to-customer 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. "Our main objective was to disrupt the life insurance market whilst offering an enhanced customer experience and create an entirely digital insurance company,” said 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."
"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," said Roni Al-Dor, Sapiens President & CEO.
"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 DigitalSuite is 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. Sapiens CoreSuite for Life & Annuities is a state-of-the-art, digital software solution for end-to-end core operations and processes.
An award-winning policy administration system, it supports individual and group products across life, health, wealth & retirement.
