Pan-American Life insurance Group Goes Live with Sapiens IllustrationPro on Microsoft Azure Cloud

Pan-American Life insurance Group (PALIG) has recently made a significant move by going live with Sapiens IllustrationPro, an SaaS solution hosted on the Microsoft Azure cloud. This decision was made in order to consolidate illustrations on a single platform and provide insurers with faster time to market within North America.

PALIG is already in production with an Index Universal Life (IUL) product and has plans for more product implementations in the region. The company’s President, Bruce Parker, expressed his satisfaction with the partnership with Sapiens, stating that the solution delivered by Sapiens raises the standard of their illustration processes and allows them to stay competitive through quick and easy launches of new products across various distribution channels.

Roni Al-Dor, the President and CEO of Sapiens, also shared his excitement about growing the partnership with PALIG and providing them with a modern platform for their product illustrations. He emphasized the importance of staying ahead of the curve and embracing cutting-edge technology in the insurance industry.

This collaboration comes on the heels of Sapiens’ strategic investment in Sapiens CoreSuite for Medical Professional Liability (MPL) in July 2024. By expanding and bolstering its MPL capabilities and products for policy administration, finance, claims, and risk management, Sapiens aims to meet the needs of MPL insurers in the rapidly consolidating market.

Sapiens’ solution not only empowers insurers to manage the complexities of MPL operations effectively but also enables them to adapt quickly to new regulatory requirements and industry standards. This move marks another important milestone in Sapiens’ growth and support for MPL, showcasing the company’s commitment to innovation and excellence in the insurance software industry.

Overall, the partnership between PALIG and Sapiens represents a significant step forward in the digital transformation of the insurance industry. By leveraging Sapiens’ advanced technology and expertise, PALIG is poised to enhance its operations, streamline its processes, and deliver better products and services to its customers in North America. This collaboration sets a positive example for other insurers looking to modernize their operations and stay competitive in today’s rapidly evolving market.