DLA Piper advised LähiTapiola Keskinäinen Henkivakuutusyhtiö (LocalTapiola Life) in the procurement process for a new core policy administration system

DLA Piper advised LocalTapiola Life in the replacement of its current eight (8) policy administration systems with a Sapiens-based policy administration system. The new solution includes CoreSuite, Sapiens Intelligence, Sapiens Cloud Services and Cloud Hosting with a next-generation digital experience.

LocalTapiola Group is a mutual insurer offering an increasing variety of forecasting, security and well-being solutions aiming to make the everyday life of Finns safer, healthier and financially more successful. LocalTapiola serves private customers, entrepreneurs, corporate customers, farmers, and organisations. LocalTapiola’s products and services cover non-life, life, and pension insurance, as well as investment and saving services. LocalTapiola’s network of regional companies consists of 19 regional mutual insurance companies.

Sapiens International Corporation is a leading global provider of software solutions for the insurance industry, serving over 600 customers in 30 countries, for more than 40 years of industry expertise.

“Implementing a new policy administration system is a large-scale complex project with many commercial, operational, information security and compliance related factors to take into consideration. The DLA Piper team's advisory role was essential throughout the RFP process and the overall negotiation process was straightforward and professional. After a successful conclusion with Sapiens, we can answer to the demand and offer our customers global solutions with local understanding and service", says Janne Kärkkäinen, Director Development & Innovation at LocalTapiola.

The consolidation of LocalTapiola’s eight policy administration systems into a single seamless digital experience will reduce technology debt, support full compliance with statutory requirements as well as meet customer demands and dynamic behaviour. As a result, LocalTapiola will be customer-centric with a next-generation customer experience and added-value, positioning the company as a digital pioneer in the region.

The DLA Piper advisory team was led by partner Sami Rintala with support from senior associates Aleksi Nieminen and Juulia Olsson and associate Antto Oksanen.

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