Universal Life selects Sapiens to modernise its core systems

Sapiens International Corporation (NASDAQ: SPNS)(TASE: SPNS), a leading global provider of software solutions for the insurance industry, has announced that Universal Life (Unilife), a leading life and health insurer in Cyprus, has entered into a conditional agreement with  Sapiens CoreSuite for Life & Pensions with the scope and intent to modernise its core insurance processes and support its strategic growth initiatives.

According to a relevent press release, the intended collaboration between Universal Life and Sapiens seeks to replace Universal Life legacy systems with a modern, scalable solution to enhance operational efficiency and accelerate product innovation. By leveraging the end-to-end capabilities of Sapiens CoreSuite, Universal Life aims to streamline policy administration, claims processing, and billing operations to optimise customer satisfaction and loyalty. Sapiens Cloud Services will provide the insurer with a secure, flexible, and high-performance infrastructure to support its growth.

"We have engaged Sapiens after a comprehensive evaluation process due to its strong presence in the region and its ability to deliver an advanced, fully integrated solution tailored to our modernisation needs," said Evan Gavas, Universal Life CEO. "With Sapiens, we are confident in our ability to optimise efficiencies, improve agility, and continue delivering market-leading insurance solutions to our customers."

"We are excited to have the opportunity to engage with Universal Life as they embark on this important transformation journey," said Roni Al-Dor, Sapiens President and CEO. "Our core solution and cloud services will empower Universal Life to future-proof their operations, enhance customer engagement, and accelerate business growth in a dynamic insurance landscape."

Sapiens CoreSuite for Life & Pensions is an end-to-end, SaaS solution with enhanced digital capabilities for the management of both individual and group life and pensions products.

About Universal Life (Unilife)

Incorporated as a private company in 1970, Universal Life was the first insurance company founded in Cyprus after the enactment of local insurance legislation. A member of the Photos Photiades Group, Universal Life is one of the most prominent life insurers in Cyprus and a leader in the accident and health insurance sector. The company is widely recognised for its reliability, professionalism, and customer-centric approach, with products distributed through a network of highly trained insurance agents. For more information, visit www.universallife.com.cy.

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global leader in intelligent insurance SaaS-based software solutions. With Sapiens' robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. Our SaaS-based Solutions help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers' compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success.