HOLON, Israel and DENVER, Colorado, April
19, 2017 /PRNewswire/ --
Sapiens International Corporation,
(NASDAQ and TASE: SPNS), a leading global provider of software
solutions for the insurance industry, with a growing presence in
the financial services sector, announced today that its fully owned
subsidiary StoneRiver, Inc., a trusted insurance technology partner
with solutions across multiple business lines, has announced today
that Hallmark Financial Services is now in production with the
Freedom Reinsurance System(FRS).
(Logo:
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FRS automation ensures accuracy of reinsurance calculations and
streamlines billing/collections and annual statement reporting. In
addition, the time savings from implementing FRS allows Hallmark's
resources to focus on other strategic initiatives. FRS software
automates attachment and calculation of ceded premium, commissions,
losses, reserves and loss adjustment expense. System users also
gain new efficiency with one-click generation of Schedules F and
P.
Hallmark Financial Services Chief Accounting Officer
Jeff Passmore said, "Automating our
reinsurance processing not only helps to ensure accuracy and
compliance but also adds efficiencies to the organization. We have
been pleased with the knowledge the StoneRiver team exhibited
during the implementation process, especially since there were
multiple data sources that needed to interface to FRS."
StoneRiver Reinsurance Director of Client Services Melissa Whitaker said, "We congratulate Hallmark
Financial Services on this milestone achievement. We are glad to
help position the company for successful reinsurance processing as
they grow."
About Hallmark Financial Services, Inc.
Hallmark Financial Services, Inc. is a diversified specialty
property/casualty insurer with offices in Dallas-Fort Worth, San Antonio, Chicago, Los
Angeles and Atlanta. Hallmark markets, underwrites and
services over half a billion dollars annually in commercial and
personal insurance premiums in select markets. Hallmark is
headquartered in Fort Worth, Texas
and its common stock is listed on NASDAQ under the symbol
"HALL".
About StoneRiver, Inc.
StoneRiver, a fully owned subsidiary of Sapiens, delivers the
industry's widest range of value-oriented technology solutions and
services to insurance carriers, agents and broker-dealers. This
versatile product group encompasses front-office, policy, claims,
rating, underwriting, billing and reinsurance automation for all
major business lines. Hundreds of companies of all sizes rely on
StoneRiver software and processing solutions to achieve a
competitive edge. Customer satisfaction and client success are the
continuing goal, and are in large part achieved by maintaining and
valuing strong, long-term customer relationships.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with a growing presence in the 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 400
financial services organizations. The Sapiens team of over 2,500
professionals operates through our fully-owned subsidiaries in
North America, the United Kingdom, EMEA and Asia Pacific. For more information:
http://www.sapiens.com.
Investor and Media 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