JERSEY CITY, New Jersey, February 12, 2013 /PRNewswire/ --
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a global provider of innovative software solutions, announced today that its ALIS policy administration system for life, annuity and pensions has been recognized by Ovum, a global industry analyst firm, as a "Market Leader" in its recently published research: Ovum Decision Matrix: Selecting a Life Insurance Platform for Use in Europe. Ovum notes ALIS offering and Sapiens' commanding market position as contributors to ALIS being worthy of a place on most technology selection shortlists.
The Ovum report, which covers the life insurance software platforms in Europe, provides a quantitative and qualitative representation of Ovum's view of the competitive landscape for core administration platforms. Based on a number of qualifying criteria, Ovum narrowed the list of vendor solutions profiled in the report to 10, highlighting Sapiens' ALIS system as a Market Leader and worthy of a place on most technology selection shortlists. Ovum also noted Sapiens as a vendor in this category who has established a commanding market position."Ovum believes that the vendor solutions for life core administration platforms have reached a level of functional and technological maturity which means that choosing to buy, rather than build, is the most effective approach for the vast majority of life insurers," said Charles Juniper, Ovum Senior Analyst, Insurance Technology. Continuing and commenting on the analysis of Sapiens ALIS, Juniper added, "Given the size of the organization as compared to some other vendors profiled, Sapiens' strong showing in the report is a testament to both the company and the ALIS product. Ovum considers Sapiens, with its ALIS solution, a Market Leader in the life policy administration market with an offering that combines strong technology architecture with a broad range of functionality. We recognize ALIS's strong European installed base and the expansion of its market footprint with the highest growth rate among vendors assessed with the addition of new clients in Europe as well as North America over the last year." Additional Sapiens highlights from the Ovum report include:
- Sapiens' increased investment since the acquisition of ALIS in 2011 has driven very strong growth for the platform.
- Sapiens' scores are driven by its significant European installed base, strong focus on the insurance industry, and high market growth.
- The ALIS platform's flexibility score is particularly high as a result of the product configuration approach.