Sapiens, a prominent global software solutions provider catering to the insurance sector, has unveiled a strategic collaboration with a tier-one financial institution in South Africa. This collaboration entails the deployment of Sapiens’ renowned IDITSuite for Property and Casualty within Namibia, thus serving as the linchpin for the bank’s short-term (non-life) insurance operations.
This South African bank, which already leverages IDITSuite for its essential short-term undertakings domestically, has also integrated the software provider CoreSuite for Life & Pensions to drive its Life & Annuities segment.
Roni Al-Dor, the astute President and CEO of Sapiens, expressed his gratification at witnessing the triumph of the platform’s implementation in South Africa, culminating in the bank’s decision to broaden their collaborative purview into an entirely new geographic expanse. Al-Dor affirmed, “This milestone marks not only the realization but the inception of a comprehensive African expansion strategy, all centered around our operational hub in South Africa.”
The bank’s choice of IDITSuite as the fulcrum for their Namibian expansion can be attributed to their contentment with the existing partnership with Sapiens. This contentment is underscored by the seamless integration of Sapiens IDITSuite within the South African landscape.
Under the aegis of this alliance, Sapiens assumes the responsibility of managing the core short-term systems within Namibia for the bank. This operational scope extends to encompass a portfolio recently acquired by the bank from another prominent South African insurance enterprise. The initial phase of this implementation will concentrate on personal lines of business, a spectrum encompassing automotive coverage, residential protection, portable possessions, home contents, and personal liability coverage.
Anchored in its status as a digitally-oriented, end-to-end modular insurance platform, Sapiens IDITSuite transcends conventional paradigms. Operating within the cloud-based milieu, this software epitomizes efficiency and flexibility. It seamlessly shepherds both personal and commercial lines of business, orchestrating the complete lifecycle from acquisition and billing to claims processing and renewal. Pioneering a cloud-centric Software as a Service (SaaS) model, this insurance platform seamlessly integrates pre-engineered, low-code capabilities across core operational facets, data management, and the digital domain. This holistic approach accelerates the process of digital transformation, propelling insurers into the vanguard of industry innovation.
