HOLON, Israel, May 2, 2019 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
global provider of software solutions for the insurance industry,
announced today that King Wai Insurance (KWI) – a major provider of
business, personal and professional insurance solutions – has
selected Sapiens IDITSuite for Property & Casualty. Following
the acquisition of QBE Insurance Thailand, KWI is focused on
becoming a leading insurance provider in Thailand by replacing its outdated legacy core
system with the Sapiens IDITSuite.
"The insurance industry is undergoing a dramatic technological
transformation and we selected Sapiens' innovative suite to bring
us into the digital age and become a leading insurance provider in
Thailand," said Antonio Chan, chairman of KWI. "Replacing an
outdated system will help us to accelerate growth, diversify our
product offerings and increase distribution channels for our
customers. We are very pleased with our choice to partner with
Sapiens for both our personal and commercial lines of
business."
Sapiens IDITSuite for Property & Casualty was selected by
KWI as its core platform after rigorous evaluations and bids from
various core vendors. The innovative solution was selected for its
ability to support the launch of both personal and commercial
product lines, and omni-channel capabilities that will help
establish KWI as a trusted digital insurance brand in the Thai
market.
Tech Mahindra will lead the implementation efforts for
Sapiens IDITSuite, the financial accounting system and IT
infrastructure in Thailand.
Tech Mahindra is a leading provider of digital
transformation, consulting and business re-engineering services and
solutions, and was ranked in the top 15 of Forbes' Digital
100 list.
"We are thrilled to continue our expansion in Thailand with KWI and expect the
implementation of our technology to positively impact the
industry," said Roni Al-Dor, Sapiens' president and CEO. "Our
solutions will support KWI's digital journey to provide a superior
policy administration, billing and claims experience to its
customers."
Sapiens IDITSuite for Property & Casualty is a
component-based platform. This pre-integrated, fully digital suite
was designed with growth and change in mind, and offers a flexible,
user-friendly workflow interface. Sapiens' core systems are
expected to speed time to market via flexible product configuration
and business rules engines, provide a superior claims experience
for KWI customers and optimize operational costs for the KWI
team.
About King Wai Insurance Public Company Limited
(KWI)
King Wai Insurance Public Company Limited is a wholly-owned
subsidiary of King Wai Group, a leading business conglomerate based
in Hong Kong (founded by Dr. King
Wai Chan). King Wai Group acquired
98.24% of the shares in QBE Insurance (Thailand) Public Company Limited on
May 16, 2018. Following the
transaction completion, the company has changed its name to "King
Wai Insurance Public Company Limited." For more information:
www.kwgi.co.th/EN/home.
About Sapiens
Sapiens International Corporation empowers insurers to succeed
in an evolving industry. The company offers digital software
platforms, solutions and services for the property and casualty,
life, pension and annuity, reinsurance, financial and
compliance, workers' compensation and financial markets. With
more than 35 years of experience delivering to over 450
organizations globally, Sapiens has a proven ability to satisfy
customers' core, data and digital requirements. For more
information: 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
Logo:
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