Sapiens International, a leading global provider of software solutions for the insurance industry, with a growing presence in the financial services sector, announced that Mutual Trust Life (MTL), a Pan-American life insurance company, based in Oakbrook, Ill., has successfully deployed the Sapiens ALIS policy administration system to support its life insurance business.
The launch includes the roll-out of the Sapiens ALIS Agent and Commission module to manage MTL’s sales and distribution network. The deployment of Sapiens ALIS completes the first phase of a multi-phased transformation initiative to modernize MTL’s technical infrastructure.
The program includes utilizing the Sapiens ALIS platform to support all of MTL’s product offerings, including whole life, universal life, term and fixed annuities for new business and its in-force book of business.
"The ALIS system was the right choice for our modernization initiative," said Steve Batza, MTL president and CEO.
"Sapiens ALIS provides us with the functionality and flexibility to more efficiently process our business and support our growth plans. The continued focus and commitment of Sapiens’ team of skilled professionals were crucial in helping us to achieve the critical first phase of this complex project."
"We thank MTL for the opportunity to work closely with its team through every step of the implementation," said Ron Karam, president of Sapiens’ North America Retirement Services and Insurance division.
"Introducing a new policy administration system is one of the more challenging initiatives an insurance company will face when modernizing its infrastructure. MTL’s structured and deliberate approach to this challenge was a key to the project’s success."
"We are excited to have achieved this important milestone with MTL," said Roni Al-Dor, president and CEO of Sapiens. "Sapiens is pleased that MTL is already deriving tangible value from Sapiens ALIS and we look forward to continuing to work with the MTL team as they expand the use of the system."
Mutual Trust Life Insurance Company develops, underwrites, and services individual life insurance and annuities. Known as "The Whole Life Company," its specialty is participating whole life insurance – the foundation of sound financial planning.
We offer premier life insurance products, designed to maintain integrity over time, to provide our policyholders with protection and wealth management, while maintaining excellent financial strength.