Modernizing Insurance: Universal Life Partners with Sapiens for Core System Revamp

In a significant development for the insurance industry, Universal Life, a prominent life and health insurer based in Cyprus, has announced a partnership with Sapiens International Corporation to modernize its core systems. This collaboration aims to replace outdated legacy systems with an innovative, scalable solution designed to enhance operational efficiency and accelerate product innovation. By integrating Sapiens' CoreSuite for Life & Pensions, Universal Life aspires to streamline its policy administration, claims processing, and billing operations, ultimately optimizing customer satisfaction and loyalty.

Sapiens International Corporation, recognized as a leading provider of software solutions for the insurance sector, will offer its robust Cloud Services to ensure a secure, flexible, and high-performance infrastructure to support Universal Life’s strategic growth initiatives. This transformation is not only a technological upgrade but also a strategic move to advance the insurer's market position and agility in a rapidly evolving industry.

Evan Gavas, the CEO of Universal Life, expressed confidence in this partnership, stating, “We engaged Sapiens after a comprehensive evaluation process due to its strong presence in the region and ability to deliver an advanced, fully integrated solution tailored to our modernization needs.” This statement emphasizes the careful selection process undertaken by Universal Life, underscoring their commitment to enhancing service delivery and operational excellence.

Roni Al-Dor, President and CEO of Sapiens, echoed this sentiment, noting, “We are excited to forge this relationship with Universal Life as they embark on this transformative journey. Our core solutions and cloud services will empower them to future-proof their operations and enhance customer engagement.” This collaboration marks a critical step in leveraging technology to navigate the complexities of the insurance landscape and meet the evolving expectations of customers.

About Universal Life (Unilife)

Founded in 1970 as the first insurance company after the establishment of local insurance legislation in Cyprus, Universal Life has been a pioneer in the insurance market. It is a distinguished member of the Photos Photiades Group and is recognized for its reliability, professionalism, and customer-centric approach. The company holds a strong market position as a prominent player in both the life and health insurance sectors.

Universal Life distributes its products through a network of highly trained insurance agents, ensuring that customers receive tailored solutions to meet their individual needs. With a focus on innovative insurance solutions, the company strives to maintain its leadership position in a competitive market.

About Sapiens

Sapiens International Corporation stands out as a global leader in intelligent SaaS-based software solutions for the insurance industry. With a presence in over 30 countries and a robust ecosystem, Sapiens empowers insurers to navigate operational challenges with excellence amidst rapid changes in the marketplace. Their SaaS offerings harness the power of AI and automation, enabling clients to effectively manage core insurance activities spanning various sectors including property and casualty, workers' compensation, and life insurance.

With over 600 customers benefiting from Sapiens’ innovative solutions, the company is renowned for its commitment to customer partnership throughout the transformation journey. Additionally, Sapiens has been recognized for its contributions to the industry, being selected for the Microsoft Top 100 Partner program, highlighting its dedication to continuous innovation.

As Universal Life prepares to implement these advancements, both companies are poised to enhance the insurance experience for customers while securing their places as leaders in the industry. The upcoming modernization of Universal Life's systems illustrates the essential role technology plays in shaping the future of insurance.