HOLON, Israel, Aug. 26, 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 South
Africa's top five financial institutions with nearly 10
million customers, has chosen Sapiens as their transformation
partner. The financial institution will implement Sapiens'
cloud-hosted, IDITSuite for short-term insurance and Sapiens
Intelligence, with the help of Sapiens Managed
Services.
Subsequent to successfully launching its fully digital insurance
product for individuals to purchase cover for motor vehicle,
household contents, all-risk and building cover, the financial
institution decided to rethink its legacy core system. To bring the
company up to date in terms of capabilities, a refresh was
required. However, the financial institution had some concerns
regarding data migration and implementation. Particularly, they
wanted to ensure a fast time to market, and agreed to work with
Sapiens on reviewing and rearchitecting some of their internal
processes.
Sapiens' extensive industry experience, together with its
comprehensive range of insurance products for the bancassurance
sector, will empower the client to align with the latest,
market-leading trends. Sapiens will migrate the customer's
systems and data to the cloud, and Sapiens vast implementation
experience will ensure the complex integration into the client's
extensive banking ecosystem. Highly configurable systems will
ensure their self-sufficiency and ability to effect change and
generate significant, ongoing value.
"Sapiens is pleased to foster great partnerships and to
demonstrate our strong commitment to accelerating growth in the
bancassurance sector. We are honored to be a partner in our
customer's journey as they expand their leading position in today's
dynamic bancassurance marketplace," said Roni Al-Dor, Sapiens' president and CEO. "Our
advanced solutions and deep understanding of the changes reshaping
bancassurance have earned Sapiens a stronghold as a leading vendor
in this industry."
Sapiens IDITSuite is a component-based, core software solution
comprised of policy, billing and claims solutions. IDITSuite
supports end-to-end core operations and processes for the
short-term/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 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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SOURCE Sapiens International Corporation