Insurance software provider Sapiens has announced that Pan-American Life Insurance Group (PALIG) has gone live with Sapiens IllustrationPro, an SaaS solution hosted on the Microsoft Azure cloud.
PALIG chose Sapiens to consolidate illustrations on a single platform and provide insurers with faster time to market within the North America.
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In addition, PALIG is in production with an Index Universal Life (IUL) product, and plans are underway for more product implementations in North America.
“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.”
In July 2024, Sapiens strategically invested in Sapiens CoreSuite for Medical Professional Liability, MPL, to foster growth and innovation for the MPL industry.
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By GlobalDataBy expanding and bolstering its MPL capabilities and products for policy administration, finance, claims, and risk management, and the seamless integration with value-added vendor solutions, Sapiens is trying to meet the needs of MPL insurers in the rapidly consolidating market.
Furthermore, this marks another important point in Sapiens’ growth and support for MPL.
Sapiens’ solution empowers insurers to manage the complexities of MPL operations effectively and adapt quickly to new regulatory requirements and industry standards.
