Alexander Forbes, the pan-African financial services group, has selected Sapiens for its full complement of solutions under a single delivery organisation
Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, and Alexander Forbes Group Holdings, a leading pan-African financial services leader, have entered into a material agreement intended to enhance the delivery of Alexander Forbes’ client experience and solutions. Sapiens expects to generate significant revenues pursuant to the new agreement in each of 2017, 2018 and 2019.
Under the agreement, Sapiens will provide a wide range of offerings – including key components of the Sapiens Digital Suite – to power Alexander Forbes’ client proposition and enhance its digital capability.
The core systems – Sapiens ALIS for life and pensions, and Sapiens IDIT and Sapiens Reinsurance for short term insurance – together with the Sapiens PORTAL, Sapiens INTELLIGENCE and Sapiens DECISION for decision management, will provide end-to-end, integrated digital capabilities across all lines of business. Sapiens will serve as the primary implementation partner.
Andrew A. Darfoor, Alexander Forbes Group Chief Executive, commented, “The transaction with Sapiens is the largest single investment in technology and digital in the history of the Group. This is a critical component of our strategic ambition of becoming the leading pan-African financial services leader by providing our clients with a lifetime of financial well-being solutions through a modern platform with an improved customer experience”.
“Alexander Forbes selected Sapiens based on our ability to serve as a one-stop-shop for products, services and delivery,” said Roni Al-Dor, Sapiens President and CEO. “Sapiens’ portfolio will enable a full modernisation and digital transformation, empowering Alexander Forbes to provide a personalised and tailored customer experience and enhanced time to market of new products. Our modern IT platforms will help fuel Alexander Forbes’ growth and provide it with full and automatic regulatory compliance.”