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MTL Insurance Company Selects the Sapiens ALIS Policy Administration to Administer its Life Insurance and Annuity Business
ROCHELLE PARK, New Jersey, July 17, 2012/PRNewswire-FirstCall/ --
Sapiens International Corporation [http://www.sapiens.com ], (NASDAQ and TASE: SPNS),
a global provider of innovative insurance software solutions, announced today that Oak
Brook, IL-based MTL Insurance Company, a member of Mutual Trust Financial Group, has
selected the Sapiens ALIS policy administration
[http://www.sapiens.com/life-insurance-software.htm ] system to administer its life and
annuity business. Using ALIS, in a phased-approach project, will enable MTL to update its
policy administration platform to more efficiently introduce new products, take advantage
of the latest technology and provide better service to its policy holders.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
MTL Insurance Company develops, underwrites, and services individual life insurance
and annuities. The company, which specializes in the design and development of whole life
insurance, also offers universal and term life insurance, as well as annuities to
individuals, families and businesses.
Commenting on the ALIS selection, Mutual Trust's President and Chief Executive Officer
Steve Batza explained, "Following an extensive evaluation, we determined that ALIS was
best suited to meet our long-term strategic objectives. We were impressed with ALIS's rich
functionality as well as the technical architecture which will allow us to develop more
efficient processes and substantially improve our speed to market. The Sapiens
organization and its consulting staff took the time to understand our needs, and their
customer-focused approach was an important part of our selection process."
Ron Karam, President, Sapiens North America Insurance Division, concludes, "We are
extremely pleased with the opportunity to partner with MTL on updating their policy
administration infrastructure. We have already mobilized our team to implement ALIS and to
convert MTL's existing business from their legacy system. MTL represents our sixth
U.S.-based ALIS customer and 25th ALIS customer world-wide, further establishing Sapiens
as a market leader."
Roni Al-Dor, Sapiens's President and CEO, added, "We are proud to be selected by MTL
and welcome the company to our family of customers. Our presence in the insurance market
continues to grow as we partner with more customers to help them achieve their market and
technology goals."
About MTL Insurance Company
MTL Insurance Company, a member of Mutual Trust Financial Group and the flagship of
the group, was founded in 1904 with the belief that life insurance should be the
cornerstone of every family's financial plan. Today, the company continues to embrace this
goal by developing, underwriting and servicing individual life insurance and annuities.
The company is recognized in the industry as "The Whole Life Company"(R) because of its
leadership in designing and developing participating whole life products that offer very
early cash values and guaranteed premiums and death benefits. A mutual company, MTL has an
impressive record of paying dividends for more than 100 consecutive years.
About Sapiens International
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global provider of
innovative software solutions for the insurance industry. We offer end-to-end solutions
for the Life & Pension, Property & Casualty, and Reinsurance markets. We serve over 100
financial services customers, backed by a team of over 700 insurance experts, operating
through fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia
Pacific.
Except for historical information contained herein, the matters set forth in this
release are forward-looking statements that are dependent on certain risks and
uncertainties, including such factors, among others, as market acceptance, market demand,
pricing, changing regulatory environment, changing economic conditions, risks in new
product and service development, the effect of the Company's accounting policies, specific
system configurations and software needs of individual customers and other risk factors
detailed in the Company's SEC filings.
Contact:
Osnat Segev-Harel, CMO
Sapiens International
Tel: +972-8-938-2721
Email: osnat.se@sapiens.com
Investor Relations Contact:
Roni Giladi, CFO
Sapiens International
Tel: +972-8-9382721
E-mail: roni.g@sapiens.com
James Carbonara, Regional Vice President,
Hayden IR
Office: +1-646-755-7412
James@haydenir.com
Photo:
http://photos.prnewswire.com/prnh/20120508/531104
Source: Sapiens International Corporation
MTL Insurance Company Selects the Sapiens ALIS Policy Administration to Administer its Life Insurance and Annuity Business
ROCHELLE PARK, New Jersey, July 17, 2012/PRNewswire-FirstCall/ --
Sapiens International Corporation [http://www.sapiens.com ], (NASDAQ and TASE: SPNS),
a global provider of innovative insurance software solutions, announced today that Oak
Brook, IL-based MTL Insurance Company, a member of Mutual Trust Financial Group, has
selected the Sapiens ALIS policy administration
[http://www.sapiens.com/life-insurance-software.htm ] system to administer its life and
annuity business. Using ALIS, in a phased-approach project, will enable MTL to update its
policy administration platform to more efficiently introduce new products, take advantage
of the latest technology and provide better service to its policy holders.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
MTL Insurance Company develops, underwrites, and services individual life insurance
and annuities. The company, which specializes in the design and development of whole life
insurance, also offers universal and term life insurance, as well as annuities to
individuals, families and businesses.
Commenting on the ALIS selection, Mutual Trust's President and Chief Executive Officer
Steve Batza explained, "Following an extensive evaluation, we determined that ALIS was
best suited to meet our long-term strategic objectives. We were impressed with ALIS's rich
functionality as well as the technical architecture which will allow us to develop more
efficient processes and substantially improve our speed to market. The Sapiens
organization and its consulting staff took the time to understand our needs, and their
customer-focused approach was an important part of our selection process."
Ron Karam, President, Sapiens North America Insurance Division, concludes, "We are
extremely pleased with the opportunity to partner with MTL on updating their policy
administration infrastructure. We have already mobilized our team to implement ALIS and to
convert MTL's existing business from their legacy system. MTL represents our sixth
U.S.-based ALIS customer and 25th ALIS customer world-wide, further establishing Sapiens
as a market leader."
Roni Al-Dor, Sapiens's President and CEO, added, "We are proud to be selected by MTL
and welcome the company to our family of customers. Our presence in the insurance market
continues to grow as we partner with more customers to help them achieve their market and
technology goals."
About MTL Insurance Company
MTL Insurance Company, a member of Mutual Trust Financial Group and the flagship of
the group, was founded in 1904 with the belief that life insurance should be the
cornerstone of every family's financial plan. Today, the company continues to embrace this
goal by developing, underwriting and servicing individual life insurance and annuities.
The company is recognized in the industry as "The Whole Life Company"(R) because of its
leadership in designing and developing participating whole life products that offer very
early cash values and guaranteed premiums and death benefits. A mutual company, MTL has an
impressive record of paying dividends for more than 100 consecutive years.
About Sapiens International
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global provider of
innovative software solutions for the insurance industry. We offer end-to-end solutions
for the Life & Pension, Property & Casualty, and Reinsurance markets. We serve over 100
financial services customers, backed by a team of over 700 insurance experts, operating
through fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia
Pacific.
Except for historical information contained herein, the matters set forth in this
release are forward-looking statements that are dependent on certain risks and
uncertainties, including such factors, among others, as market acceptance, market demand,
pricing, changing regulatory environment, changing economic conditions, risks in new
product and service development, the effect of the Company's accounting policies, specific
system configurations and software needs of individual customers and other risk factors
detailed in the Company's SEC filings.
Contact:
Osnat Segev-Harel, CMO
Sapiens International
Tel: +972-8-938-2721
Email: osnat.se@sapiens.com
Investor Relations Contact:
Roni Giladi, CFO
Sapiens International
Tel: +972-8-9382721
E-mail: roni.g@sapiens.com
James Carbonara, Regional Vice President,
Hayden IR
Office: +1-646-755-7412
James@haydenir.com
Photo:
http://photos.prnewswire.com/prnh/20120508/531104
Source: Sapiens International Corporation