MTL Insurance Company, a member of Mutual Trust Financial Group, has picked up the Sapiens ALIS policy administration system to administer its life and annuity business.
The policy administrator will assist the US insurer to modernize its policy administration platform to more efficiently introduce new products and provide better service to its policy holders.
Mutual Trust’s president and chief executive officer Steve Batza said, "Following an extensive evaluation, we determined that ALIS was best tool suited to meet our long-term strategic objectives. We were impressed with ALIS’s rich functionality as well as the technical architecture which will allow us to develop more efficient processes and substantially improve our speed to market."
Sapiens North America Insurance Division president Ron Karam said, "We are extremely pleased with the opportunity to partner with MTL on updating their policy administration infrastructure. We have already mobilized our team to implement ALIS and to convert MTL’s existing business from their legacy system."
MTL Insurance specializes in the design and development of whole life insurance and also offers universal and term life insurance, as well as annuities to individuals, families and businesses.