KBC in production with Sapiens policy admin system

Source: Sapiens

Sapiens International Corporation, (NASDAQ and TASE: SPNS), a global provider of innovative insurance software solutions, today announced that KBC's insurance business in Belgium is in full production with the ALIS Policy Administration Solution.

The initial implementation is to support the sales and servicing of Individual Pension Arrangement (IPA) products distributed through its network of 500 bancassurance agencies across Belgium. Around 1600 agents can now distribute and manage business using the new processes enabled within ALIS.

KBC focuses on providing bank, insurance and wealth management products and services to retail customers, private banking clients and mid-cap / SMEs, with a geographic focus on the home markets of Belgium and Central and Eastern Europe.

The Sapiens' ALIS solution is being deployed at KBC as a multi-lingual solution to support new products and services. With the implementation of the ALIS Policy Administration Solution, KBC will benefit from re-engineered business processes which enable remote agents to process illustrations, complete sales transactions, process new business, and respond to policy inquiries quickly and efficiently. The development and launch of new and innovative products is designed to maintain and grow KBC's insurance business in Belgium.

KBC's senior general manager of life insurance, Dirk Van Liempt, said, "The Sapiens & KBC teams have demonstrated high skills and dedication to the success of the project. The feedback from our agent users has been nothing but positive and we look forward to taking full advantage of all the functionality and flexibility the ALIS solution offers as we continue to expand our use of the system."

The next phase of implementation will include the development and deployment of a new Group Modern product. All current policies are being converted to the new ALIS system early 2013, with the existing system planned for decommissioning by the end of next year.

Roni Al-Dor, Sapiens President & CEO, added, "KBC is a strategic client for Sapiens and has helped us to establish a stronger foothold in the European market. The working relationship between our two teams has become a true partnership with a common focus on enablnabling KBC to meet its business objectives. With the initial implementation now a success, our combined teams are already on track for the subsequent phases of implementation and full replacement of KBC Group Life's legacy system."

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