The seamless upgrade aims to improve DirectAsia's customer
experience, laying the foundation for moving to a cloud native
model
HOLON, Israel, Aug. 19, 2021 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
today announced the go-live of a digital core upgrade of its
Sapiens IDITSuite solution at DirectAsia, a leading and innovative
digital automobile and travel insurer in Singapore and Thailand, wholly owned by global insurer
Hiscox.
DirectAsia has been live on Sapiens IDITSuite in Singapore since 2009 and in Thailand since 2012. The integration of
Sapiens IDITSuite's newest features empowers Direct Asia to align
with the latest, market-leading digital trends. The new version
includes significant enhancements to the underwriting workbench,
digital claims process, payment slip management and enhanced
digital API library, which enable integration with external systems
with ease. This also supports DirectAsia's cloud strategy, as the
new version is another step in the journey to a cloud
environment.
"Throughout our partnership, Sapiens constantly raised the bar
with continuous investment in their products and ongoing value
delivered. Throughout the project and during the integration,
DirectAsia entrusted Sapiens' vast industry expertise and
capabilities. Sapiens ensured that all our specific needs were
delivered, while providing a seamless transition, all of which had
a purely positive impact on our business goals. We look forward to
developing our partnership with Sapiens even further," said
Narasimhan Parthasarathy, Direct
Asia's CIO.
"We are delighted by the ongoing, long-term trust from
DirectAsia. We are honored to be a partner in DirectAsia's journey
as they expand their leading position in today's dynamic
marketplace," said Roni Al-Dor,
Sapiens' president and CEO. "Sapiens' enhanced suite of solutions
maximizes our collaboration and will support Direct Asia's
immediate and future needs. We are pleased to foster our
partnership with Direct Asia and to demonstrate our strong
commitment to the APAC region."
Sapiens IDITSuite for Property & Casualty is a
component-based, standalone software solution comprised of policy,
billing and claims solutions. IDITSuite supports end-to-end core
operations and processes for the non-life (general) insurance from
inception to renewal and claims. Its pre-integrated, fully digital
suite offers customer and agent portals, business intelligence, as
well as a suite of tools for testing new lines of business,
products and services. IDITSuite is fully cloud-enabled.
About DirectAsia
DirectAsia was launched in Singapore in 2010 with a goal of changing the
face of insurance in Asia. Today
they are a leading digital automobile and travel insurer in
Singapore and Thailand. In 2014, Direct Asia became wholly
owned by global insurer Hiscox, one of the world's leading
international specialist insurance groups. For more information:
www.directasia.com.
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
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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