Sapiens International Corp., a leading global provider of software solutions for the insurance and retirement industry, with an emerging focus on the broader financial services sector, has announced Tennessee Farmers Life Insurance Company (TFLIC) has selected Sapiens ALIS, Sapiens’ flagship policy administration system.
This is Sapiens’ first deployment of Sapiens ALIS in the cloud, a service provided in partnership with NTT DATA Inc., leveraging NTT DATA’s comprehensive application, Cloud migration and hosting services. The combined solution will enable TFLIC to benefit from an improved user experience, while lowering implementation risk. TFLIC will also leverage the Sapiens ALIS service layer to interface with LifeNet, TFLIC’s primary user interface supporting both internal users and TFLIC agents.
Following an extensive six-month vendor evaluation and due diligence phase, TFLIC chose Sapiens ALIS for an IT modernization project designed to support the company’s full portfolio of life and annuity products. The project includes an in-force conversion of more than 330,000 policies from LIFE-COMM. This is Sapiens’ third LIFE-COMM replacement initiative. TFLIC will benefit from the full suite of Sapiens ALIS functionality, including new business, policy owner service, claims processing and repetitive payments.
“We are pleased to partner with Sapiens to modernize our infrastructure, enabling Tennessee Farmers Life to enhance the service we provide to our policy holders and take advantage of current digitalization trends, including mobility and social media,” said Dennis Stephen, chief operating officer of TFLIC. “We felt the Service-Oriented Architecture of Sapiens ALIS was ideal and the Sapiens personnel who have assisted with our due diligence process, and now the project, have been outstanding. This collaboration, along with Sapiens’ reputation in the industry, gives us confidence in our decision.”
“We wish to thank Tennessee Farmers Life for selecting Sapiens and joining our growing Sapiens ALIS user community. We look forward to another successful implementation,” said Ron Karam, president of Sapiens North American Insurance and Retirement Services division. “Our new partnership with TFLIC demonstrates Sapiens ongoing commitment to the Life and Annuity market as we continue to improve Sapiens ALIS to offer greater benefits to our customers.”
NTT DATA is a leading IT services provider and global innovation partner with 75,000 professionals based in over 40 countries. NTT DATA emphasizes long-term commitment and combines global reach and local intimacy to provide premier professional services, including consulting, application services, business process and IT outsourcing, and cloud-based solutions. We’re part of NTT Group, one of the world’s largest technology services companies, generating more than $112 billion in annual revenues, and partner to 80% of the Fortune Global 100. Visit www.nttdata.com/americas to learn how its consultants, projects, managed services and outsourcing engagements deliver value for a range of businesses and government agencies.
Sapiens International Corp. (NASDAQ and TASE: SPNS) is a leading global provider of software solutions for the insurance industry, with an emerging focus on the broader financial services sector. Sapiens offers core, end-to-end solutions to the global general insurance, property and casualty, life, pension and annuities, reinsurance and retirement markets, as well as business decision management software. The Sapiens team of over 1,000 professionals operates through our fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific. For more information: www.sapiens.com.
Source: NTT DATA