Sapiens Releases New Version of IllustrationPro and ApplicationPro Modules for Life & Annuities Market

Rhea-AI Summary

Sapiens Americas, a subsidiary of Sapiens International Corporation (NASDAQ: SPNS), has announced the release of new versions of Sapiens IllustrationPro and Sapiens ApplicationPro for the life and annuities sector. These upgrades enhance value for insurers by accelerating time to market, lowering total costs, and improving usability. The integrated modules allow for efficient data processing, reducing errors and enhancing the digital customer experience. With over 40 customers in North America, Sapiens aims to solidify its position in the insurance software industry.

Positive

• New versions of IllustrationPro and ApplicationPro enhance usability and customer experience.
• Faster time to market and reduced total cost of ownership are achieved through the new upgrades.
• Integration of modules minimizes data entry errors and streamlines processes for agents.

Negative

• None.

HOLON, Israel, Dec. 7, 2020 /PRNewswire/ -- Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, has announced the availability of a new version of Sapiens IllustrationPro and Sapiens ApplicationPro. The new release significantly increases value for insurers through faster time to market, reduced total cost of ownership, and importantly, enhanced digital experience and usability, all of which are key differentiators in the current market.

Sapiens IllustrationPro for Life & Annuities is a point-of-sale solution that processes quotes and illustrations quickly and accurately based on the input of customized criteria. Fully responsive and able to run on any device, IllustrationPro strengthens relationships and speeds the sales process.

ApplicationPro enables experienced and new agents alike to simply and easily input information required by using wizard–based, self-directed navigation. Being integrated with IllustrationPro, all the information is carried forward into the application, and the agent doesn't need to rekey it, which greatly reduces the chance of errors and facilitates a digital straight-through processing operation. With the new release, these two integrated modules enable agents and brokers to more quickly enter the information required and more easily illustrate the data to consumers.

ApplicationPro offers self-sufficient home office maintenance, through fully configurable, reflexive question handling. The solution enables home office to easily create questions and responses, and quickly react to and adjust to changes in the application and underwriting decisions. The upgraded, reflexive question framework captures more information and guides the agent through the process. Questions are streamlined to drill down to more specific follow-up questions, most often regarding medical conditions.

"Sapiens is a longstanding provider of Life & Annuities solutions, with over 40 customers in the US and Canada alone," said David Pidgeon, Sapiens Head of Life & Annuity, North America. "Integrating these two independent modules is a huge value proposition, and the open architecture makes it easy to integrate into insurers' digital environment and provide a holistic digital experience to customers."

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.

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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' new software release for SPNS?

The new software enhances value for insurers, promoting faster processing and reducing operational costs, which can positively impact Sapiens' market position and profitability.

When was Sapiens' new version of IllustrationPro and ApplicationPro announced?

The new version was announced on December 7, 2020.

How does the new Sapiens software improve digital experience for insurers?

It offers integrated modules that streamline data entry, reduce errors, and enhance usability, leading to a better digital experience for customers.

What market does Sapiens operate in with the new software release?

Sapiens operates in the life and annuities insurance market with its newly released software solutions.

What are the benefits of the integrated modules in Sapiens' software?

The integrated modules allow for seamless data transition, enhanced accuracy, and a faster sales process for agents and brokers.