HOLON, Israel, May 4, 2015 /PRNewswire/ --
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector, announced today that Quantum II Ltd. (Quantum) - a new
entrant in Mauritius' property and
casualty (P&C) and medical products direct insurance market -
has selected the Sapiens IDIT Software Suite as its centralized
solution.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
Quantum, which is owned by Hertshten Group, an international
investment firm headquartered in Mauritius, will launch its direct insurance
business with the modern and agile IDIT platform running in the
cloud, enabling the organization to provide a unique, digitalized
and seamless customer experience that will be accessible from any
device. Sapiens' comprehensive solution suite will provide the
foundation for Quantum's goal to launch direct insurance operations
in numerous African countries.
Sapiens IDIT supports international and domestic markets via its
multi-company, multi-branding, multi-currency and multi-lingual
capabilities. The solution supports diverse lines of business
within a single policy, offers several insured objects and assets,
and dynamic questionnaires.
"We chose Sapiens based on its proven ability to quickly deliver
a software suite featuring rich functionality and the most modern
technology," said Ashok Prayag,
chief executive officer at Quantum.
"Sapiens offered the best fit and technology, with built-in cost
savings and industry best practices," added Evan Hochstein, chief information officer at
Hertshten Group.
"Our state-of-the-art technology has been proven to enable
insurers to enter markets quickly with new and innovative products,
while reducing their total cost of ownership," said Gary Sherne, president of Sapiens' General
Insurance and Reinsurance division. "We look forward to
establishing a long and mutually beneficial partnership with
Quantum."
About Hertshten Group
Incorporated in March 2005 and
registered in Mauritius, the
Hertshten Group is regulated by the Financial Services Commission
in Mauritius, a
globally-recognized regulatory authority.
Hertshten Group's strategic aim is to create and build
complementary businesses with high growth potential in developing
economies on a global scale. The Group's global geographical
presence allows it to explore opportunities and to diversify its
portfolio.
Quantum Insurance, incorporated in 2014, is a start-up insurance
company serving customers in Mauritius initially. Quantum serves
commercial, institutional and individual customers through its
innovative, modern platform. It offers property-casualty and
general insurance services and is the first to offer fully
integrated end-to-end online direct insurance solutions in
Mauritius.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector. Sapiens offers core, end-to-end solutions to the global
general insurance, property and casualty, life, pension and
annuities, reinsurance and retirement markets, as well as business
decision management software. The company has a track record of
over 30 years in delivering superior software solutions to more
than 130 financial services organizations. The Sapiens team of over
1,000 professionals operates through our fully-owned subsidiaries
in North America, the United Kingdom, EMEA and Asia Pacific. For more information:
http://www.sapiens.com.
Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: Yaffa.cohen-ifrah@sapiens.com
SOURCE Sapiens International Corporation