Sapiens, global provider of software solutions for the insurance industry, has established a presence in Finland with LocalTapiola.
LocalTapiola is a life insurance company based in Finland.
Sapiens aims to empower the financial sector, with a focus on insurance, to transform and become digital, innovative and agile. The company provides an insurance platform with pre-integrated, low-code solutions and a cloud-first approach.
The move sees Sapiens and LocalTapiola launch a new Policy Administration System.
The new Policy Administration System leverages Sapiens’ CoreSuite, Sapiens Business Intelligence, Sapiens Cloud Services (SCS) and Cloud Hosting to replace the 8 Policy Administration Systems (PAS) with a next-generation digital experience.
According to Sapience, the consolidation of 8 PAS system into a single seamless digital experience will reduce technology debt, support full compliance with statutory requirements and legislation as well as meet customer demands and dynamic behaviour.
As a result, LocalTapiola will be customer-centric with a next-generation customer experience and added-value, positioning the company as a digital pioneer in the region. Furthermore, the new Sapiens-based PAS system will significantly reduce IT debt and increase the speed-to-market of new products and solutions.
Pasi Haarala, CEO LocalTapiola Life company, said, “Partnering with Sapiens provides LocalTapiola Life the agility and abilities to provide our customers a unique digital experience.
“An experience with the customer in mind, positioned at the forefront of the company backed with the technology to deliver a game-changing policy administration system. Sapiens’ presence in the Nordic market makes it a perfect partner that brings both global technology and knowledge with local understanding and service.
Ron Al-Dor, CEO of Sapiens, added, “Establishing our presence in the Finnish market with LocalTapiola Life is a true honor and further strengthens our strategic presence in the Nordic region. This partnership signifies the true spirit of digitalisation and LocalTapiola Life as the flagship project in Finland.”
Earlier this month, Singapore-based InsurTech bolttech selected Sapiens for its P&C core platform.
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