Norwegian Insurer Gjensidige Pensjonsforsikring Partners with Sapiens to Enhance Life & Pension Coverage and Promote Digital Transformation

Rhea-AI Summary

Sapiens International Corporation (NASDAQ: SPNS) has partnered with Gjensidige Pensjonsforsikring (GPF) to implement its CoreSuite for Life & Pension platform, aiming to enhance GPF's digital capabilities and market share in the life and pension sector. The solution will enable greater automation and operational efficiency, allowing GPF to streamline workflows and improve customer engagement. Following a thorough vendor evaluation, GPF selected Sapiens for its strong presence in the Nordic market. This implementation marks Sapiens' introduction of its flagship platform in Norway, aiming to drive innovation and enhance customer service.

Positive

• Partnership with Gjensidige Pensjonsforsikring enhances market share in Norway.
• CoreSuite for Life & Pension platform designed for operational efficiency and customer engagement.
• Sapiens' established presence in the Nordics adds credibility to this collaboration.
• The platform allows for quick deployment of new product offerings.

Negative

• None.

HOLON, Israel, Nov. 11, 2020 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, and the prominent Norwegian insurance company Gjensidige Pensjonsforsikring (GPF) today announced that GPF will implement Sapiens CoreSuite for Life & Pension (L&P) platform for their Group Risk, Group Pensions, Individual Risk, Savings and Annuities business as the insurer seeks to expand its digital capabilities and boost its market share in L&P coverage.

Built to enable greater automation, operational efficiency and seamless digitization, Sapiens CoreSuite for L&P will equip GPF with an optimized, Norwegian tailored platform with real-time access to centrally managed data from any device. As a single, unified system, the platform is designed to streamline workflows, accelerate insurers' digital transformation and improve customer engagement with the fast and simple roll-out of new product offerings.

Maintained and updated continuously by Sapiens in accordance with the latest technological and regulatory requirements, the CoreSuite solution will go live at GPF after a full migration from their existing policy administration system. Gjensidige is already in the process of implementing Sapiens IDITSuite software solution for property & casualty coverage across the Nordic region. 

GPF was looking for a strong Life and Pension platform that supported the Norwegian market and regulation.  After a comprehensive market analysis and pre-study phase, GPF chose the highly recommended Sapiens platform, CoreSuite for L&P, which will provide operational excellence and cost efficiency for GPF, by enabling the solution to drive flexibility and minimize time to market for new products.

"After our extensive market evaluation of different vendors, we were left with no doubt: Sapiens is the partner GPF needs to embrace the latest technology and market trends, meet customer demands and quickly deploy new products that enhance our customers' lives, all at a competitive cost," said Torstein Ingebretsen, CEO of GPF.

"While Sapiens already boasts a strong foothold in the Nordics, this milestone marks the first time that Sapiens has introduced our highly rated, flagship CoreSuite for Life & Pension platform to the region," said Roni Al-Dor, Sapiens President and CEO. "With a more than 200-year history in the Norwegian insurance industry, Gjensidige is a regional powerhouse, and Sapiens is honored to empower the company to continue driving innovation and set the standard for best-in-class customer service."

About Sapiens

Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers' compensation and financial markets. With more than 35 years of experience delivering to over 500 organizations globally, Sapiens has a proven ability to satisfy customers' core, data and digital requirements. For more information: www.sapiens.com.

Media Contact

Alex Zukerman
CMO and Chief of Strategy, Sapiens
+972 546 724 910
alex.zukerman@sapiens.com

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SOURCE Sapiens International Corporation

FAQ

What is the significance of Sapiens' partnership with Gjensidige Pensjonsforsikring?

This partnership allows Sapiens to expand its market presence in Norway and enhance digital capabilities for GPF.

How will the CoreSuite for Life & Pension platform benefit Gjensidige Pensjonsforsikring?

The platform will streamline workflows, improve customer engagement, and enable faster product deployment.

What does the implementation of Sapiens' platform signify for the insurance market in Norway?

This marks Sapiens' first introduction of its flagship platform in Norway, driving innovation in the local insurance industry.

When will the CoreSuite platform go live at Gjensidige Pensjonsforsikring?

The platform will go live after a full migration from GPF's existing policy administration system.