Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Sapiens IllustrationPro has won Celent’s XCelent awards for both the Advanced Technology and Breadth of Functionality categories. This recognition follows the recent win of Sapiens UnderwritingPro for Life & Annuities in the Breadth of Functionality category for New Business and Underwriting Systems, North America.
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“Sapiens has made significant investments in IllustrationPro, culminating in a product with robust functionality and efficient usability,” wrote Celent analyst Keith Raymond in the report. “Sapiens IllustrationPro v5, released in September 2020, includes a full UI/UX technology refresh, providing a completely new and satisfying user experience. The technology upgrade and product enhancements also provide a fully responsive UI. This latest release is Sapiens’ first phase of a multiphase road map to bring additional digital features and functions.”
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Sapiens IllustrationPro for Life & Annuities is a cloud-based, point-of-sale illustration and quoting solution, offering a fully responsive, modern and intuitive user experience for both the life and annuities as well as health markets. ACORD®-compliant, it offers straight-through processing, from point-of-sale to application e-submission and is supported by a needs analysis suite. IllustrationPro’s calculation engine handles complex product illustrations and multichannel distribution, enabling carriers to serve multiple marketing segments with a single deployment.
Research and advisory firm Celent analyzed 10 illustration systems and determined awards based on the Celent ABCD Vendor View, a resource for identifying premier technology solutions serving the insurance and financial industries. “The effect of the pandemic has resulted in insurers looking to accelerate full automation of their sales tools due to the new virtual work force and customer base. Celent expects the need for acceleration will move many digital sales–oriented investments to the top of a life insurer’s investment list for 2021. When considering this new highly virtualized world, investments in sales technology such as illustrations need to be smart, with a goal of maximizing virtualization, agent/customer experience and value,” said Keith Raymond.
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