Revitalizing Finland’s Insurance Industry: Aktia Life’s Partnership with Sapiens for Core System Transformation and Digitalization

Aktia Life, a leading life insurer in Finland, has made a strategic decision to collaborate with Sapiens, a renowned provider of software solutions for the insurance industry, for their core system transformation project. This partnership aims to support Aktia Life’s growth and renewal goals, improve customer and employee experience, and drive digitization within the organization.

The Chosen Partner for Complex Insurance Ecosystem Integrations

One of the key factors in selecting Sapiens as the partner for this transformation project is their proven expertise in handling complex insurance ecosystem integrations. With a track record of successfully executing such projects, Sapiens brings deep industry knowledge and an understanding of the challenges that Aktia Life may encounter during their transformation journey.

Sapiens’ cloud-first platform for individual and group products makes them an ideal partner for Aktia Life’s core system transformation. The cloud-based solution allows for flexibility and scalability, enabling Aktia Life to respond to changing customer demands and market dynamics in a timely manner. By leveraging Sapiens’ platform, Aktia Life will be able to streamline its operations, enhance efficiency, and offer innovative products and services to its customers.

Supporting Aktia’s Strategic Growth and Renewal Goals

The partnership with Sapiens aligns perfectly with Aktia Life’s strategic growth and renewal goals. Aktia Life aims to modernize its systems and processes, reduce technology debt, and remain compliant with statutory requirements. By implementing Sapiens’ CoreSuite for Life and Pensions, Aktia Life will gain access to a comprehensive suite of tools to manage its data and analytics effectively.

Empowering Aktia Life with Data Management and Analytics Capabilities

Sapiens CoreSuite for Life and Pensions will empower Aktia Life with fully embedded data management and analytics capabilities. This will enable Aktia Life to leverage data-driven insights for better decision-making and gain a competitive edge in the market. With Sapiens’ data management tools, Aktia Life will be able to streamline their operations, improve operational efficiency, and enhance customer satisfaction.

Actionable Insights with Sapiens Intelligence

Underpinning the implementation is Sapiens Intelligence, a powerful tool that provides actionable insights and improves underwriting risk selection. Aktia Life will be able to make informed decisions by leveraging the capabilities of Sapiens Intelligence. This will not only optimize risk management but also improve customer satisfaction by offering tailored solutions that perfectly meet customer needs.

Sapiens One-Hand-to-Shake Model for Comprehensive Services

To ensure a smooth and efficient implementation, Aktia Life has chosen to adopt the Sapiens One-Hand-to-Shake model. This model provides comprehensive services, including implementation, support, maintenance, and hosting. By consolidating these services under Sapiens, Aktia Life can eliminate potential coordination issues and minimize operational disruptions, ultimately resulting in a seamless transformation experience.

Eliminating IT Bottlenecks with Sapiens Cloud Services

Sapiens Cloud Services offer Aktia Life the advantage of eliminating IT bottlenecks and providing proactive management. With this service, Aktia Life can focus on their core business while entrusting the management of their IT infrastructure to Sapiens. The cloud-based infrastructure ensures high availability, scalability, and data security, enabling Aktia Life to meet the evolving needs of their customers.

Prioritizing Technology Debt Reduction and Statutory Compliance

Aktia Life’s decision to implement a modern policy administration system (PAS) platform in partnership with Sapiens is driven by the need to reduce technology debt and comply with statutory requirements. Sapiens CoreSuite will enable Aktia Life to retire legacy systems, streamline premium payment processes, optimize client management features, and enhance policy service transactions. This will ensure a more efficient and compliant operation.

Through their collaboration with Sapiens, Aktia Life will make significant strides in achieving their digitalization goals. The implementation of Sapiens CoreSuite for Life and Pensions, supported by Sapiens Intelligence and Cloud Services, will provide Aktia Life with the necessary tools, insights, and technology to transform and future-proof their operations. By focusing on growth, customer satisfaction, and compliance, Aktia Life is poised to succeed in an increasingly competitive insurance landscape.

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