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Altshuler Shaham Implements Sapiens’ Platform to Manage its Pension Processes

Altshuler Shaham Implements Sapiens' Platform to Manage its Pension Processes | Fintech Finance

Sapiens International Corporation, a leading global provider of software solutions for the insurance industry, has announced that Altshuler Shaham Investment House, one of Israel’s fastest-growing provident and pension funds, has upgraded its Life and Pensions solution, to accelerate and support its rapidly growing pension funds business. Sapiens Life and Pension platform will dramatically improve Altshuler Shaham’s business processes and operational costs. Sapiens’ platform was selected for its ability to meet Altshuler’s business needs as well as Israeli regulatory requirements.

Altshuler Shaham manages pension assets for 2.4 million customers of more than NIS 200 billion. The upgrade of its pension management platform will support its steady growth trend. The new platform addresses both the changing business needs and the requirements of Israeli regulation, and will enable the company to provide an even more flexible and efficient service for its customers. The upgrade will offer Altshuler Shaham significant improvement in streamlining the operation of pension activities.

“We are pleased to continue our fruitful cooperation with Sapiens,” said Anat Knafo Tavor, CEO of Altshuler Shaham Provident Funds and Pension. “The choice of Sapiens stemmed from its rich experience in the field of pensions and technology and in Israeli local regulations. The implementation of the system, which is currently taking place, is part of our growth strategy, and our goal is to continue to lead the pension market in Israel.”

“Sapiens is extremely pleased to be a trusted partner of Altshuler Shaham and to empower them to achieve such outstanding growth in the pension fund market. Our 40-year industry expertise demonstrates our commitment to excellence in pension fund solutions,” said Roni Al-Dor, Sapiens president and CEO.

According to Tal Sharon, Director of Sapiens Israel, “We are proud of Altshuler Shaham’s choice to streamline and expand its operations with Sapiens’ advanced solutions, thus becoming a leading player in the field of pension fund management in Israel.”

Sapiens Life and Pensions solution and digital facilitation of pension claims deliver a simplified, automated and integrated process for all parties involved (the insurance company, government agencies and legal representatives). The solution offers a dramatic improvement in straight-through processing and a significant decrease in claims calls and processing times.

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