Sapiens was selected for its proven experience in complex insurance ecosystem integrations, providing an end-to-end, cloud-first, digitally enhanced platform for individual and group products, across Life, Wealth and Pension insurances. Aktia has seen recent rapid changes in customer behaviour with digitalization being a critical step towards enhancing efficiency and simultaneously upgrading towards seamless customer service, along with new product offerings.
“Working with Sapiens has already been very rewarding for our company and we are looking forward for the next phase,” said Riikka Luukko, Aktia Life CEO. “The partnership with Sapiens supports our strategic growth and renewal goals, including our goal to offer excellent customer and employee experience. With this we are able to optimize both customer and business value and ensure our business continuity.”
Sapiens CoreSuite for Life and Pensions will empower Aktia Life with a wide range of fully embedded data management and analytics capabilities. The Aktia implementation is underpinned by the market-leading Sapiens Intelligence data and analytics module that pools the insurer’s data to provide actionable insights, improving underwriting risk selection and reducing claims expense ratios. Sapiens Cloud Services empowers companies to focus on core business objectives, eliminating IT bottlenecks, with support and maintenance services providing proactive management.
The Aktia implementation makes use of the Sapiens One-Hand-to-Shake model, whereby Sapiens provides, implementation, support and maintenance services, as well as Cloud hosting and services via its SaaS model.
“We are proud to partner with Aktia Life to help them achieve their digitalization goals,” said Roni Al-Dor, Sapiens President & CEO. “Aktia Life informed us that its new life business model target is to implement a modern PAS platform to reduce technology debt in order to be fully compliant with statutory requirements and legislations.”
Sapiens CoreSuite empowers insurers to quickly and easily tailor and launch new life insurance products through a variety of low-code/no-code configuration tools as well as support their existing product portfolios. It streamlines premium payment processes and client management features, in addition to further enhancements for Policy Service transactions driven from the at-a-glance Policy Dashboard.
Source: FF News
