The implementation includes more than 90 products across
personal and commercial lines, integrating more than 50 third-party
systems and transforming underwriting, claims, channels, accounting
and reinsurance processes
HOLON, Israel, July 29, 2021 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, today announced that one of Thailand's leading non-life insurers has
selected Sapiens for its large-scale digital core transformation.
Sapiens end-to-end solutions for non-life (general) insurance will
transform the insurer's 30-year-old legacy core through the
implementation of Sapiens IDITSuite, Sapiens ReinsuranceMaster,
Sapiens Intelligence and Sapiens DigitalSuite's API
layer.
Sapiens' modern, open solutions ensure that the insurer stays
ahead of the curve with straight through processing and automation
capabilities that will enable the reduction of operational costs
and allow for better underwriting and claims decisions. Moreover,
the solution will accelerate product development and enable the
launch of innovative products with speed through Sapiens unique
product configuration engine. The solution will also enable the
insurer to increase revenues by ramping up its partner ecosystem
and opening new digital channels through the API layer. Sapiens
Intelligence completes the comprehensive package by enabling
quicker, more accurate data-based decision making.
"We are delighted to partner on this ambitious endeavor that
will enable the insurer to achieve significant competitive
advantage. They will be able to meet business goals quicker,
enhance their customer experience and be ready for what the future
holds," said Roni Al-Dor, Sapiens
president and CEO. "Our collaboration is further testament to our
commitment in the region, to use local resources and meet local
regulatory requirements – in Thailand and across Asia."
An end-to-end commercial and personal lines solution, IDITSuite
supports all core operations and processes for personal, commercial
and specialty lines of business. Sapiens ReinsuranceMaster is a
comprehensive business and accounting solution designed to support
the entire range of reinsurance contracts and activities for all
lines of business. Sapiens Intelligence is an out-of-the-box
solution with a full industry standard data management model.
Sapiens DigitalSuite is a flexible, component-based platform that
allows insurers to simply achieve their goals and tailor their
digital solutions to their needs, no matter where they are in their
digital transformation process.
About Sapiens
Sapiens International Corporation empowers insurers to succeed
in an evolving industry. Sapiens 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 more than 600 organizations globally,
Sapiens has a proven ability to satisfy customers' core systems,
data and digital requirements. For more information:
www.sapiens.com.
Media
Contact
Shay
Assaraf
Chief of Marketing,
Sapiens
+44 7548
369920
Shay.assaraf@sapiens.com
|
Investors
Contact
Daphna
Golden
Vice President, Head
of Investor Relations, Sapiens
ir@sapiens.com
|
Forward Looking Statements
Certain matters discussed in this press release that are
incorporated herein by reference are forward-looking statements
within the meaning of Section 27A of the Securities Act, Section
21E of the Exchange Act and the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995, that are based on
our beliefs, assumptions and expectations, as well as information
currently available to us. Such forward-looking statements may be
identified by the use of the words "anticipate," "believe,"
"estimate," "expect," "may," "will," "plan" and similar
expressions. Such statements reflect our current views with respect
to future events and are subject to pandemic risks and
uncertainties. There are important factors that could cause our
actual results, levels of activity, performance or achievements to
differ materially from the results, levels of activity, performance
or achievements expressed or implied by the forward-looking
statements, including, but not limited to: the degree of our
success in our plans to leverage our global footprint to grow our
sales; the degree of our success in integrating the companies that
we have acquired through the implementation of our M&A growth
strategy; the lengthy development cycles for our solutions, which
may frustrate our ability to realize revenues and/or profits from
our potential new solutions; our lengthy and complex sales cycles,
which do not always result in the realization of revenues; the
degree of our success in retaining our existing customers or
competing effectively for greater market share; difficulties in
successfully planning and managing changes in the size of our
operations; the frequency of the long-term, large, complex projects
that we perform that involve complex estimates of project costs and
profit margins, which sometimes change mid-stream; the challenges
and potential liability that heightened privacy laws and
regulations pose to our business; occasional disputes with clients,
which may adversely impact our results of operations and our
reputation; various intellectual property issues related to our
business; potential unanticipated product vulnerabilities or
cybersecurity breaches of our or our customers' systems; risks
related to the insurance industry in which our clients operate;
risks associated with our global sales and operations, such as
changes in regulatory requirements, wide-spread viruses and
epidemics like the recent novel coronavirus pandemic, which
adversely affected our results of operations, or fluctuations in
currency exchange rates; and risks related to our principal
location in Israel and our status
as a Cayman Islands company.
While we believe such forward-looking statements are based on
reasonable assumptions, should one or more of the underlying
assumptions prove incorrect, or these risks or uncertainties
materialize, our actual results may differ materially from those
expressed or implied by the forward-looking statements. Please read
the risks discussed under the heading "Risk Factors" in our most
recent Annual Report on Form 20-F, in order to review conditions
that we believe could cause actual results to differ materially
from those contemplated by the forward-looking statements. You
should not rely upon forward-looking statements as predictions of
future events. Although we believe that the expectations reflected
in the forward-looking statements are reasonable, we cannot
guarantee that future results, levels of activity, performance and
events and circumstances reflected in the forward-looking
statements will be achieved or will occur. Except as required by
law, we undertake no obligation to update publicly any
forward-looking statements for any reason, to conform these
statements to actual results or to changes in our expectations.
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