Case Study: LV= achieves substantial cost reduction and improved customer experience with Sapiens Closed Books Platform

LV= Achieves Substantial Efficiencies Using the Sapiens Closed Books Platform as its System of Record

LV=, the UK’s largest friendly society with over 5.8 million customers and 5,500 employees, needed to reduce costs while improving and personalising customer service. To meet this challenge LV= engaged Sapiens and adopted the Sapiens Closed Books platform as its system of record.

Sapiens migrated 10 portfolios—approximately 3.5 million policy records—from legacy platforms and TPAs onto the Closed Books platform using a proven migration methodology, delivering the project on time and within budget. Sapiens’ solution enabled LV= to substantially reduce legacy IT and administration costs, decrease dependency on diminishing legacy skill sets, improve in-force policy-to-FTE ratios, lower future compliance costs, achieve a single view of customers, and raise customer experience and processing consistency.

LV=

Lisa Mundy

Service Director