The implementation accelerates HGR's
complete core transformation for Life & Pensions
UXBRIDGE, England, Sept. 30, 2024 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that South
Africa's Hollard Group Risk (HGR), a division of Hollard
Life Insurance Company Limited, has gone live with Sapiens
DataSuite, to accelerate the complex migration of HGR's business
and align processes with Sapiens CoreSuite for Life &
Pensions. DataSuite will support the transition period between
the core system and HGR's legacy system.
Sapiens DataSuite supports the complex launch of CoreSuite by
producing actionable insights and automated, consolidated reports
across HGR legacy system and CoreSuite system among all lines of
business to deliver maximum business value. Among its many
benefits, DataSuite empowers HGR with the ability to manage their
data and reporting needs and seamlessly operate their business as
usual during the migration from their legacy policy administration
system. The solution provides HGR with a detailed suite of
operational, claims, underwriting, financial, risk and actuarial
reports.
In addition, integrating DataSuite with HGR's legacy policy
administration system and CoreSuite significantly reduces the
complexities of the migration process, which required complicated
development of tailored reports and merging of reports across the
legacy and CoreSuite systems. CoreSuite's policy administration
system includes the full range of group scheme processing including
enrolment via file for bulks or manually for a single member,
periodical payroll processing, premium payments, commission and
binder fee calculations, renewal calculations, and
claims.
"The implementation of DataSuite propels our long and trusted
relationship with Sapiens to a new level of partnership," said
Duran Chetty, HGR's COO &
CIO. "Sapiens CoreSuite for Life & Pensions is replacing
our core legacy system to drive down operational costs and deliver
automated, seamless user experiences for customers, alliance
partners, and HGR staff. CoreSuite and DataSuite will also help
accelerate our digital transformation objectives. Sapiens'
dedicated data solution and data warehouse have stepped in to
handle our existing business volumes, while accommodating expected
growth."
"Sapiens delivered HGR a complete transformation package to
accelerate their market position and reduce the complexities of
their reporting requirements," said Roni
Al-Dor, Sapiens President and CEO. "HGR's launch of Sapiens
CoreSuite was the first comprehensive group risk implementation in
South Africa, and we are excited
to see the continuation of this project with DataSuite and to
accompany HGR as they expand."
Sapiens CoreSuite for Life & Pensions is a 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.
Sapiens DataSuite is a data management solution that
empowers insurers to transform their data into actionable insights
to maximize the value of their data. DataSuite is a modular, highly
innovative business intelligence solution specifically for
insurance markets.
About Hollard Group Risk (HGR)
Hollard Group Risk (HGR) is a division of Hollard Life Insurance
Company Limited. HGR is an independent specialist risk manager that
provides a comprehensive range of flexible risk benefit solutions
to employer and affinity groups, both locally and internationally.
For more information, visit https://hollardgrouprisk.com/
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
global leader in intelligent insurance software solutions. With
Sapiens' robust platform, customer-driven partnerships, and rich
ecosystem, insurers are empowered to future-proof their
organizations with operational excellence in a rapidly changing
marketplace. We help insurers harness the power of AI and advanced
automation to support core solutions for property and casualty,
workers' compensation, and life insurance, including reinsurance,
financial & compliance, data & analytics, digital, and
decision management. Sapiens boasts a longtime global presence,
serving over 600 customers in more than 30 countries with its
innovative SaaS offerings. Recognized by industry experts and
selected for the Microsoft Top 100 Partner program, Sapiens is
committed to partnering with our customers for their entire
transformation journey and is continuously innovating to ensure
their success.
For more information visit https://sapiens.com or follow us
on LinkedIn
Investor and Media Contact
Yaffa Cohen-Ifrah
Sapiens Chief Marketing Officer and Head of Investor
Relations
Email: Yaffa.cohen-ifrah@sapiens.com
Forward Looking Statements
Certain matters discussed in this press release that are
incorporated herein and therein by reference are forward-looking
statements within the meaning of Section 27A of the Securities Act,
Section 21E of the Exchange Act and the safe harbor provisions of
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we have acquired through the implementation of our M&A growth
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macroeconomic environment, including headwinds caused by inflation,
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fluctuations in currency exchange rates; and risks related to our
principal location in Israel and
our status as a Cayman Islands
company.
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the risks discussed under the heading "Risk Factors" in our Annual
Report on Form 20-F for the year ended December 31, 2023, to be filed in the near
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actual results to differ materially from those contemplated by the
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