Sapiens International (SPNS), a global provider of insurance software, announced a conditional agreement with Universal Life, a top life and health insurer in Cyprus, to implement Sapiens CoreSuite for Life & Pensions.
The partnership aims to modernize Universal Life's core systems to support strategic growth and improve operational efficiency.
The initiative will replace legacy platforms with Sapiens' scalable solution, streamlining policy management, claims, and billing. By adopting Sapiens Cloud Services, Universal Life will benefit from a secure, flexible infrastructure to support expansion and boost customer satisfaction.
Universal Life CEO Evan Gavas noted that Sapiens was chosen after a thorough evaluation for its strong regional presence and integrated capabilities. He expressed confidence in the partnership to enhance efficiency and agility.
Sapiens CEO Roni Al-Dor stated the collaboration will equip Universal Life to modernize operations, improve customer engagement, and adapt to the evolving insurance market.
SPNS is currently trading with no movement on the Nasdaq Global Select Market.
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