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 -- 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
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