Sapiens empowers Pan-American Life Insurance
Group to consolidate their enterprise illustration standards, to
streamline processes and expand product offerings
ROCHELLE
PARK, N.J., July 18,
2024 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider
of software solutions for the insurance industry, announced today
that Pan-American Life Insurance Group (PALIG) has gone live
with Sapiens IllustrationPro, a comprehensive SaaS solution hosted
on the Microsoft Azure cloud.
After extensive competitor analysis, PALIG selected Sapiens to
consolidate illustrations on a single platform and enable the
insurer with faster time to market within the North American market
it serves. Sapiens IllustrationPro will accelerate and streamline
processes, providing an exceptional user and agent
experience.
PALIG is in production with an Index Universal Life (IUL)
product, and plans are underway for more product implementations in
North America.
A longtime Sapiens' customer, PALIG was seeking a transformation
of their current system to a Sapiens' digital web-based solution
that is fully responsive and enables integration across multiple
platforms. IllustrationPro will enable PALIG to achieve their
goals, through powerful new features for comparisons, client
management, and self-sufficiency to manage their multiple product
launches more efficiently, and significantly improve the agent
experience.
"When we decided to launch this major initiative, Sapiens was
the perfect partner to deliver a scalable, flexible solution that
raises the standard of our illustration processes," said Bruce
Parker, President Global Life Pan-American Life Insurance Group.
"Sapiens truly understands our need to stay competitive through
quick and easy launches of new products across various distribution
channels. Sapiens' tailored offering and comprehensive SaaS
solution have exceeded our expectations and provided a true sense
of partnership throughout the journey."
"We are excited to grow our partnership and provide PALIG with a
fresh start to enable their product illustrations on a modern
platform," said Roni Al-Dor, Sapiens
President and CEO. "The fact that we have a highly successful,
longtime relationship with PALIG makes the collaboration even more
rewarding. We are delighted to accelerate PALIG's commitment to
embracing cutting-edge technology and staying ahead of the
curve."
Sapiens IllustrationPro is a dynamic point-of-sale solution for
life insurance that quickly and accurately generates quotes and
compliant illustrations through an intuitive and modern engagement.
Sapiens IllustrationPro for Life & Annuities is the recipient
of Celent's 2023 "Luminary" award, as well as two 2023 Celent
XCelent awards, in the Breadth of Functionality and Customer Base
and Support categories in the North
America region.
About Pan-American Life Insurance Group
Pan-American Life Insurance Group (PALIG), a leading provider of
life, accident and health insurance throughout the Americas, has
been delivering trusted financial services since 1911. The
New Orleans-based Group is
comprised of more than twenty-member companies, employs more than
2,100 worldwide and offers top-rated individual and/or group life,
accident and health insurance, employee benefits and financial
services in 49 states, the District of
Columbia (DC), Puerto Rico,
the U.S. Virgin Islands, and
throughout Latin America and the
Caribbean. The Group has
affiliates and branches in Costa
Rica, Colombia,
Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, and 13 Caribbean markets, including
Barbados, Cayman Islands, Curacao and Trinidad
and Tobago.
For more information, visit the Pan-American Life website at
palig.com, follow on Facebook @PanAmericanLife, Twitter
@PanAmericanLife, Instagram @panamericanlife.latam, and connect on
LinkedIn at Pan-American Life Insurance Group.
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
Chief Marketing Officer and Head of Investor Relations
Sapiens International
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 the U.S. Private Securities Litigation Reform Act of
1995, that are based on our beliefs, assumptions and expectations,
as well as information currently available to us. Such
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cause our actual results, levels of activity, performance or
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activity, performance or achievements expressed or implied by the
forward-looking statements, including, but not limited to: the
degree of our success in our plans to leverage our global footprint
to grow our sales; the degree of our success in integrating the
companies that we have acquired through the implementation of our
M&A growth strategy; the lengthy development cycles for our
solutions, which may frustrate our ability to realize revenues
and/or profits from our potential new solutions; our lengthy and
complex sales cycles, which do not always result in the realization
of revenues; the degree of our success in retaining our existing
customers or competing effectively for greater market share;
the global macroeconomic environment, including headwinds
caused by inflation, relatively high interest rates, potentially
unfavorable currency exchange rate movements, and uncertain
economic conditions, and their impact on our revenues,
profitability and cash flows; difficulties in
successfully planning and managing changes in the size of our
operations; the frequency of the long-term, large, complex projects
that we perform that involve complex estimates of project costs and
profit margins, which sometimes change mid-stream; the challenges
and potential liability that heightened privacy laws and
regulations pose to our business; occasional disputes with clients,
which may adversely impact our results of operations and our
reputation; various intellectual property issues related to our
business; potential unanticipated product vulnerabilities or
cybersecurity breaches of our or our customers' systems; risks
related to the insurance industry in which our clients operate;
risks associated with our global sales and operations, such as
changes in regulatory requirements, wide-spread viruses and
epidemics like the coronavirus epidemic, and fluctuations in
currency exchange rates; and risks related to our principal
location in Israel and our status
as a Cayman Islands
company.
While we believe such forward-looking
statements are based on reasonable assumptions, should one or more
of the underlying assumptions prove incorrect, or these risks or
uncertainties materialize, our actual results may differ materially
from those expressed or implied by the forward-looking statements.
Please read the risks discussed under the heading "Risk Factors" in
our most recent Annual Report on Form 20-F, in order to review
conditions that we believe could cause actual results to differ
materially from those contemplated by the forward-looking
statements. You should not rely upon forward-looking statements as
predictions of future events. Although we believe that the
expectations reflected in the forward-looking statements are
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activity, performance and events and circumstances reflected in the
forward-looking statements will be achieved or will occur. Except
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SOURCE Sapiens International Corporation