HOLON, Israel, May 3, 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 one of the world's leading Nordic insurers has
selected a wide range of Sapiens P&C and reinsurance solutions
to modernize its environment - from core processing to the customer
experience. The agreement is valued at approximately $20 million for licensing and services over a
period of 2 years, and includes post go-live managed services worth
approximately $10 million over 5
years.
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Selected Sapiens' solutions include the IDIT Insurance Suite for
policy, claims, and billing; the Sapiens Reinsurance suite of
products and the Sapiens INTELLIGENCE and Sapiens PORTAL components
of the Sapiens Digital Suite. The insurer's processing environment
will be managed via Sapiens' hosted services , leveraging the
Microsoft Azure cloud environment.
The insurer's business objective is to transform its operating
environment to take advantage of modern technologies and digital
capabilities, to deliver an enhanced customer experience, improved
time to market, reduced operational risk and increased operational
efficiencies.
After a thorough market review of global insurance core
solutions, the company selected Sapiens due in large part to
Sapiens' ability to assume responsibility as a single source to
address all of the insurer's needs: technology, software solutions,
hosted services and expertise. The insurer was also impressed with
Sapiens' proven delivery record and commitment to commercial
markets, including the Nordic market.
"We are delighted to have been selected as a partner for this
significant project," said Roni
Al-Dor, president and CEO of Sapiens. "This is a great
opportunity for us and demonstrates the strength of our solutions,
delivery capabilities and commitment to the global and Nordics
market. We anticipate that this will be a long and mutually
beneficial relationship."
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
SOURCE Sapiens International Corporation