The modern insurance market challenges insurers seeking to increase revenues by creating efficiencies and to offer relevant products in a digital environment. Additionally, life has been a historically low-touch industry and the lack of regular contact with customers has prevented insurers from maximizing cross- and up-sell opportunities.
Sapiens CoreSuite for Life & Annuities is designed to provide excellence in the administration of insurance business, facilitate digital transformation and fast time-to-value for digital strategies, and create greater efficiency via legacy consolidation. CoreSuite is comprised of three fully integrated, core components: Sapiens Policy Administration, Sapiens Billing, and Sapiens Claims Management.
Sapiens CoreSuite for Life & Annuities offers insurers:
• A single suite for individual, employee benefits and group business
• Transformation and fast time-to-value for digital strategies
• Greater efficiency via existing system consolidation
Sapiens CoreSuite for Life & Annuities supports multiple lines of business for life, annuities, investments and medical products ‒ in a single, end-to-end system. The suite offers a 360-degree view of the customer from their policy administration system, across all distribution channels and communication streams.
Sapiens CoreSuite for Life & Annuities features full pre-integration to the Sapiens DigitalSuite for Life & Annuities and digital capabilities have been enhanced via adaptors. This facilitates digital transformation and fast time-to-value for digital strategies. It enables life carriers to become engaged, agile organizations with increased sales opportunities. By integrating Sapiens CoreSuite with our advanced analytics solution and data warehouse, we can quickly generate actionable insights, self-service business intelligence and data discovery capabilities, across all mobile devices and in the cloud.
Existing System Consolidation
Many insurers still use cumbersome systems developed decades ago that can’t support today’s regulatory changes, digital marketplace and demanding customers. Too many manual processes can lead to errors that impact the customer experience. Our unique conversion approach reduces the risk involved in migrating from existing legacy systems.