Altshuler Shaham Implements Sapiens' Platform to Manage its Pension Processes
The accelerated platform will position Altshuler Shaham as a leading player in the Israeli pension funds market
HOLON, Israel, May 10, 2022 /PRNewswire/ -- Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, has announced that Altshuler Shaham Investment House, one of Israel's fastest growing provident and pension funds, has upgraded its Life and Pensions solution, to accelerate and support its rapidly growing pension funds business. Sapiens Life and Pension platform will dramatically improve Altshuler Shaham's business processes and operational costs. Sapiens' platform was selected for its ability to meet Altshuler's business needs as well as Israeli regulatory requirements.
Altshuler Shaham manages pension assets for 2.4 million customers of more than NIS 200 billion. The upgrade of its pension management platform will support its steady growth trend. The new platform addresses both the changing business needs and the requirements of Israeli regulation, and will enable the company to provide an even more flexible and efficient service for its customers. The upgrade will offer Altshuler Shaham significant improvement in streamlining the operation of pension activities.
"We are pleased to continue our fruitful cooperation with Sapiens," said Anat Kanfo Tavor, CEO of Altshuler Shaham Provident Funds and Pension. "The choice of Sapiens stemmed from its rich experience in the field of pensions and technology and in Israeli local regulations. The implementation of the system, which is currently taking place, is part of our growth strategy, and our goal is to continue to lead the pension market in Israel."
"Sapiens is extremely pleased to be a trusted partner of Altshuler Shaham and to empower them to achieve such outstanding growth in the pension fund market. Our 40-year industry expertise demonstrates our commitment to excellence in pension fund solutions," said Roni Al-Dor, Sapiens president and CEO.
According to Tal Sharon, Director of Sapiens Israel, "We are proud of Altshuler Shaham's choice to streamline and expand its operations with Sapiens' advanced solutions, thus becoming a leading player in the field of pension fund management in Israel."
Sapiens Life and Pensions solution and digital facilitation of pension claims deliver a simplified, automated and integrated process for all parties involved (the insurance company, government agencies and legal representatives). The solution offers a dramatic improvement in straight-through processing and a significant decrease in claims calls and processing times.
About Altshuler Shaham Investment House
Altshuler Shaham Investment House was established in 1990 by Gilad Altshuler and Kalman Shaham, and now incorporates a group of companies in various fields of finance. Altshuler Shaham is co-managed by two chief executives, Gilad Altshuler and Ran Shaham. Today, the investment house manages some 275 billion shekels for 1.8 clients and investors, and offers its clients a broad range of products and services, including managing investment portfolios, provident funds, study funds, pension funds and mutual funds. Altshuler Shaham also offers additional services such as retirement planning, alternative investments, trust services and foreign currency services, provided by its incorporated subsidiaries. For more information visit https://www.as-invest.co.il/en/about/about-us/
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers' compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit www.sapiens.com or follow us on LinkedIn.
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