The implementation accelerates HGR's complete core transformation for Life & Pensions
UXBRIDGE, England, Sept. 30, 2024 -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that South Africa's Hollard Group Risk (HGR), a division of Hollard Life Insurance Company Limited, has gone live with Sapiens DataSuite, to accelerate the complex migration of HGR's business and align processes with Sapiens CoreSuite for Life & Pensions. DataSuite will support the transition period between the core system and HGR's legacy system.
Sapiens DataSuite supports the complex launch of CoreSuite by producing actionable insights and automated, consolidated reports across HGR legacy system and CoreSuite system among all lines of business to deliver maximum business value. Among its many benefits, DataSuite empowers HGR with the ability to manage their data and reporting needs and seamlessly operate their business as usual during the migration from their legacy policy administration system. The solution provides HGR with a detailed suite of operational, claims, underwriting, financial, risk and actuarial reports.
In addition, integrating DataSuite with HGR's legacy policy administration system and CoreSuite significantly reduces the complexities of the migration process, which required complicated development of tailored reports and merging of reports across the legacy and CoreSuite systems. CoreSuite's policy administration system includes the full range of group scheme processing including enrolment via file for bulks or manually for a single member, periodical payroll processing, premium payments, commission and binder fee calculations, renewal calculations, and claims.
"The implementation of DataSuite propels our long and trusted relationship with Sapiens to a new level of partnership," said Duran Chetty, HGR's COO & CIO. "Sapiens CoreSuite for Life & Pensions is replacing our core legacy system to drive down operational costs and deliver automated, seamless user experiences for customers, alliance partners, and HGR staff. CoreSuite and DataSuite will also help accelerate our digital transformation objectives. Sapiens' dedicated data solution and data warehouse have stepped in to handle our existing business volumes, while accommodating expected growth."
"Sapiens delivered HGR a complete transformation package to accelerate their market position and reduce the complexities of their reporting requirements," said Roni Al-Dor, Sapiens President and CEO. "HGR's launch of Sapiens CoreSuite was the first comprehensive group risk implementation in South Africa, and we are excited to see the continuation of this project with DataSuite and to accompany HGR as they expand."
Sapiens CoreSuite for Life & Pensions is a software solution for end-to-end core operations and processes. An award-winning policy administration system, it supports individual and group products across life, health, wealth & retirement.
Sapiens DataSuite is a data management solution that empowers insurers to transform their data into actionable insights to maximize the value of their data. DataSuite is a modular, highly innovative business intelligence solution specifically for insurance markets.
About Hollard Group Risk (HGR)
Hollard Group Risk (HGR) is a division of Hollard Life Insurance Company Limited. HGR is an independent specialist risk manager that provides a comprehensive range of flexible risk benefit solutions to employer and affinity groups, both locally and internationally. For more information, visit https://hollardgrouprisk.com/
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
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