Sapiens International Corporation, a leading global provider of software solutions for the insurance sector, and Absa Life, a foremost life insurance provider in South Africa, are teaming up.
Absa Life, well-regarded in the Consulta South African Customer Satisfaction Index (SA-csi), has opted for Sapiens as their trusted partner to spearhead the transformation of their non-underwritten products system. The initiative will involve the implementation of Sapiens Digital Front End, CoreSuite and BI Intelligence for Life and Pensions, backed by Sapiens Cloud Services and hosted on AWS.
The partnership with Sapiens was shaped by the latter’s impressive track record in intricate banking ecosystem integrations and bancassurer implementations. Sapiens’ cloud-first, digitally enhanced platform is expected to modernise Absa Life’s operations and set a robust platform for growth.
Absa Life’s decision to choose Sapiens as a partner followed the successful implementation of Sapiens IDITSuite and ReinsuranceMaster for Short Term business and a recent DigitalSuite proof of concept in the life insurance space. The open architecture of CoreSuite is anticipated to hasten new business initiatives and accelerate Absa Life’s multi-channel go-to-market strategy.
Sapiens CoreSuite for Life and Pensions is set to furnish Absa Life with a broad range of embedded data management and analytics capabilities. Furthermore, the integration of Sapiens API Conductor (ACE) ensures that digitalisation is inherent, allowing APIs to be configured, managed and orchestrated to rapidly meet digital initiatives.
Sapiens president & CEO, Roni Al-Dor, expressed pride in extending their existing partnership with Absa. He stated, “Our comprehensive solutions and strong cloud and operations infrastructure will enable Absa to grow their business by rapidly entering new markets and providing their end-customers with best-in-class digital journeys whilst helping modernise their existing legacy portfolios.”
Sapiens CoreSuite helps insurers tailor and launch new life insurance products rapidly using a variety of low-code/no-code configuration tools, whilst also supporting existing product portfolios. It streamlines premium payment processes and client management features, along with policy service transactions driven from the at-a-glance Policy Dashboard. Sapiens Cloud Services allow companies to focus on core business objectives, eliminating IT bottlenecks, with proactive management support and maintenance services.
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