Belgium based underwriter KBC insurance has deployed ALIS policy administration solution from Sapiens International Corporation, with an aim to boost its footprint in Belgium underwriting industry.
The insurer said that the solution will leverage the sales and servicing of Individual Pension Arrangement (IPA) products distributed through its network of 500 bancassurance agencies across Belgium.
After the launch of the new policy administration services, nearly 1600 agents can distribute and manage business using the new processes enabled within ALIS.
The tool is equipped with a multilingual interface to support new products and services, enabling a diverse pool of agents to perform process illustrations, complete sales transactions, process new business, and respond to policy inquiries quickly and efficiently.
KBC focuses on providing bank, insurance and wealth management products and services to retail customers, private banking clients and mid-cap / SMEs, with a geographic focus on the home markets of Belgium and Central and Eastern Europe.
Commenting on the induction on the new solution, KBC’s senior general manager of life insurance Dirk Van Liempt, said, "The Sapiens & KBC teams have demonstrated high skills and dedication to the success of the project."
The company is also developing new products as well as upgrading the existing products to meet the needs of the new system and it is believed that the process will complete by December 2013.
KBC provides banking, insurance and asset management products and services through its bank branches, insurance agents and brokers and the Internet.