Sapiens International, a provider of insurance software solutions, has signed a $27m frame agreement with Israel-based Menorah-Mivtachim to support its life, health, pension and reinsurance systems.
The four-year agreement, which starts January 2011, continues previous activities between the two companies.
Sapiens president and CEO Al-Dor said that this frame agreement reflects their long-term relations with the group.
Sapiens insurance systems are being used by Menorah-Mivtachim from past few years to support its life insurance, health insurance, pension and reinsurance business.
All new life and health policies are produced under the Sapiens system and serves all the members of Mivtachim, while Menorah-Mivtachim is using the Sapiens solution to manage its reinsurance operations.