RALEIGH, North Carolina and HOLON, Israel, April 6, 2020 /PRNewswire/ — Sapiens Worldwide Company, (NASDAQ: SPNS) (TASE: SPNS), a number one world supplier of software program options for the insurance coverage business, introduced in the present day that Illinois Mutual Life Insurance coverage (Illinois Mutual), an organization that companies 47 U.S. states and serves over 8,600 unbiased brokers, selected a number of Sapiens’ life options as a part of its digital transformation mission. The insurer goals to ship seamless illustration, eApplication, straight-through underwriting and intuitive enrollment performance to their brokers and prospects.
Illinois Mutual chosen Sapiens IllustrationPro for Life & Annuities, Sapiens ApplicationPro for Life & Annuities, Sapiens UnderwritingPro for Life & Annuities and Sapiens EnrollmentPro for Life & Annuities after an intensive market analysis.
The transfer by Illinois Mutual is aimed to boost the general consumer and agent expertise inside its life, incapacity revenue and worksite insurance coverage options. The corporate sought to attain this goal by enhancing its illustration capabilities, bettering eApplication performance and modernizing the underwriting system
“We count on Sapiens IllustrationPro’s progressive illustration software program to optimize gross sales and drive new enterprise,” mentioned Katie M. Jenkins, president and chairperson, Illinois Mutual. “The illustration capabilities will differentiate Illinois Mutual from our rivals by serving to to supply a superior and seamless buyer expertise. Moreover, Sapiens’ digital underwriting options provide best-in-class workflows and straight-through-processing to assist Illinois Mutual modernize and remodel the underwriting expertise.”
“Sapiens’ point-of-sale options have been constructed from the bottom up, leveraging all the newest in digital applied sciences, to help Illinois Mutual’s present and future platform,” mentioned David Ratnaraj, assistant vice chairman and program director, insurance coverage programs modernization, Illinois Mutual. “The options possess a robust configuration toolset and open APIs, and supply an integration companies layer that can empower us to simply combine to third-party services or products with minimal effort.”
“Sapiens’ complete, end-to-end life platform permits insurers to pick the options that can most profit their enterprise. Our business greatest practices and information, mixed with our superior digital life insurance coverage software program and pre-integration, reduces implementation time and speeds time-to-market,” mentioned Roni Al-Dor, Sapiens’ president and CEO. “This gives the aggressive benefit our purchasers demand. Sapiens is proud to have been chosen as a accomplice for a metamorphosis mission by a well-established and main firm corresponding to Illinois Mutual.”
The Sapiens Platform for Life & Annuities presents excellence within the administration of the insurance coverage enterprise and creates better effectivity by way of legacy consolidation. The platform is comprised of a core suite (together with illustration, underwriting and eApplication), superior analytics and a full digital suite.
About Illinois Mutual
Based in 1910 by the identical household that leads the corporate in the present day, Illinois Mutual is a reliable, skilled and caring supplier of life insurance coverage, incapacity insurance coverage and voluntary worksite insurance coverage merchandise. Dedicated to serving the center market, we assist folks obtain and safeguard their monetary safety. For extra info: www.illinoismutual.com.
Sapiens Worldwide Company empowers insurers to achieve an evolving business. The corporate presents digital software program platforms, options and companies for the property and casualty, life, pension and annuity, reinsurance, monetary and compliance, employees’ compensation and monetary markets. With greater than 35 years of expertise delivering to over 500 organizations globally, Sapiens has a confirmed capacity to fulfill prospects’ core, knowledge and digital necessities. For extra info: www.sapiens.com.
CMO and Chief of Technique, Sapiens
SOURCE Sapiens Worldwide Company