ROCHELLE PARK, New Jersey, July 17, 2012 /PRNewswire/ --
Sapiens International Corporation, (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 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.
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