JERSEY CITY, New Jersey, February 25, 2013 /PRNewswire/ --
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a global provider of innovative insurance software solutions, announced today that Binghamton, New York based Columbian Financial Group (CFG) is now processing over 340,000 policies on the Sapiens ALIS policy administration system.
CFG, a leading provider of Preneed and Final Expense products, originally licensed ALIS in 2008. At that time, the company's business was distributed across a variety of disparate policy administration systems. With the goal of consolidating the business to a common platform, CFG chose to deploy ALIS. After a series of successful conversions, CFG is now processing over 340,000 policies, including Preneed, Final Expense, Single Premium Whole Life, Universal Life, Fixed Annuities, and Mortgage Term Insurance products. Additional conversations from the remaining systems are currently in progress.Commenting on the success to date of CFG's modernization project, Stuart Smith, CFG's IT Senior Vice President, said, "ALIS has proven to be the industrial strength enterprise level policy administration platform we had been searching for. We have been able to internalize the ALIS conversion tools, helping us to be more self-sufficient and able to conduct the remaining conversions with less reliance on the Sapiens team. Self-sufficiency was a key objective of our project and an important component of our original ALIS evaluation criteria and selection decision." "We are pleased to provide CFG our ALIS solution in the North America Market," said Ron Karam, President Sapiens' North American Insurance Division. "As our first customer in the North America market, we appreciate CFG's welcoming our modern and functionally-rich technology platform that enable CFG to self-maintain and to serve as the hub for system consolidation. We take great pride in having CFG as a partner and in their success in realizing the ALIS value proposition." About Columbian Financial Group