HOLON, Israel and HAMBURG, Germany, July
23, 2020 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ : SPNS) and (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
announced today that after acquiring German-based insurtech
sum.cumo in January 2020 it has
tailored its Sapiens IDITSuite for Property &
Casualty and Sapiens ReinsuranceMaster to the DACH region
– Germany, Austria and Switzerland. Discussions with potential
customers in the region are already underway.
IDITSuite and ReinsuranceMaster are fundamental components of
Sapiens Platform for Property & Casualty, an end-to-end,
cloud-based platform with advanced digital capabilities. It can be
implemented as a pre-integrated platform, or as standalone modules.
The platform addresses all P&C carrier needs across all lines
of business and distribution channels, offering a wealth of digital
features.
"This is an ideal time for Sapiens to establish a leading
presence in the DACH market," said Roni
Al-Dor, Sapiens president and CEO. "There are more than 400
potential customers in the region and many insurers still use their
homemade, legacy IT systems. We believe that the DACH region, with
its low insurance software adoption rate and large number of
commercial, specialty and risk providers, will be a significant
growth driver and one of our largest business regions in the next
two to three years."
Continued Al-Dor: "sum.cumo's solid local presence and customer
base are expected to be critical success factors for Sapiens'
operation in the DACH region. We envision that the combination of
an award-winning P&C platform, backed by a highly professional
local team with expertise in insurance and digital, will truly
differentiate Sapiens' proposition."
"Sum.cumo is an established and rapidly growing company in the
DACH region. We will continue to serve our existing and future
customers, promoting Sapiens IDITSuite, along with our extensive
digital insurance know-how," said Björn Freter, founder and
managing director, sum.cumo. "As the Sapiens DACH division, we are
excited to begin adapting products to the customers' needs in
collaboration with their teams."
"COVID-19 has accelerated the trends towards digital readiness,
self-service and the cloud," said Alex
Zukerman, chief marketing and strategy officer, Sapiens.
"Sapiens IDITSuite, our digitally-enabled and cloud-native P&C
platform will help P&C providers in the DACH region transform
for the modern era and ensure they possess the necessary agility to
shift their businesses as required. As a one-stop shop for
insurers, Sapiens has proven experience equipping our customers
with the products and services they need to succeed. Our local team
will help promote, tailor and implement the in-demand IDITSuite to
the local market."
Sapiens IDITSuite for Property & Casualty is a
customer-centric, component-based, packaged solution with easy
maintenance and seamless integration for simplified, centralized
operation. The fully digital system is the core of the Sapiens
platform for P&C insurance. It supports all end-to-end core
processes, from underwriting, to renewals and claims handling. In
addition to customer and agent portals and business intelligence,
the software is compatible with other customer applications and
provides real-time access from any device at any time. This means
that new products can be introduced to the market quickly.
Sapiens ReinsuranceMaster (formerly called Sapiens Reinsurance)
is a comprehensive business and accounting system, providing a
superior solution for all types of reinsurance contracts – treaty
and facultative, and proportional and non-proportional. It enables
insurers of all sizes to manage their entire range of reinsurance
contracts and activities for all lines of business, including rich
accounting functionality and reporting capabilities.
About sum.cumo
sum.cumo stands for the
successful, integrated digitalization of traditional business
models. The insurtech's locations in Hamburg, Dusseldorf and Zurich offer companies in the insurance and
lottery sectors disruptive innovation and customer-centric
solutions based on the latest technologies. With the guidance and
support of their specialists in consulting, user experience,
front-end development, back-end development and marketing, the
success of each project is ensured from initial conception to final
execution. For more information: www.sumcumo.com/en.
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 & casualty, life, pension & annuity,
reinsurance, financial & compliance, workers' compensation
and financial markets. With more than 35 years of experience
delivering to over 500 organizations globally, Sapiens has a proven
ability to satisfy customers' core, data and digital requirements.
For more information: www.sapiens.com.
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Media Contact
Alex
Zukerman
CMO and Chief of Strategy, Sapiens
+972 546 724 910
alex.zukerman@sapiens.com
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SOURCE Sapiens International Corporation