Sapiens expands into Finnish market with LocalTapiola Life

By Gloria Methri

Sapiens International Corporation, a global provider of software solutions for the insurance industry has established its presence in Finland with LocalTapiola (LT).

LocalTapiola is one of the largest life insurance companies based in Finland. Sapiens, which aims to empower the financial sector, provides an insurance platform to companies with pre-integrated, low-code solutions and a cloud-first approach. The partnership will see the two companies launch a new Policy Administration System.

The new Policy Administration System leverages Sapiens’ CoreSuite, Business Intelligence, Sapiens Cloud Services (SCS), and Cloud Hosting to replace the 8 Policy Administration Systems (PAS) with a next-generation digital experience.

The consolidation of 8 PAS systems into a single digital experience is expected to reduce technology debt, support full compliance with statutory requirements and legislation, as well as meet customer demands and dynamic behavior.

As a result, LocalTapiola will be customer-centric with a next-generation customer experience and added value, positioning the company as a digital pioneer in the region. Furthermore, the new Sapiens-based PAS system will significantly reduce IT debt and increase the speed-to-market of new products and solutions.

“Partnering with Sapiens provides LocalTapiola Life the agility and abilities to provide our customers a unique digital experience,” said Pasi Haarala, CEO LocalTapiola Life company. An experience with the customer in mind, positioned at the forefront of the company backed with the technology to deliver a game-changing policy administration system. Sapiens’ presence in the Nordic market makes it a perfect partner that brings both global technology and knowledge with local understanding and service.”

Ron Al-Dor, CEO of Sapiens said, “Establishing our presence in the Finnish market with LocalTapiola Life is a true honor and further strengthens our strategic presence in the Nordic region. This partnership signifies the true spirit of digitalisation and LocalTapiola Life as the flagship project in Finland.”