HOLON, Israel, Sept. 9, 2021 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
today announced that HDI Global Specialty SE (HGS), a global
specialty insurer, part of the Talanx Group, and a joint venture of
Hannover Re and HDI Global, has selected Sapiens for its core
transformation with the implementation of Sapiens IDITSuite. The
modular, award winning IDITSuite will bring HGS to the forefront
with modern, cloud architecture, out of the box functionality, low
code configurability and more. The solution will accelerate product
development and enable the swift launch of innovative products.
HGS was seeking a flexible, customizable solution with minimal
need for custom development. They wanted a modern, graphical user
interface compatible with a broad variety of devices and operating
systems to support direct business as well as business written by
brokers and agencies in the London
market.
"HGS specialist teams are required to provide quick responses
and informed support, specifically to tailor-made insurance
customer needs, and when we were looking to transform, we had a
long list of business requirements we needed to address.
Sapiens is providing state-of-the-art functionality that we are
seeking to meet our immediate and future needs, while still
integrating with existing internal HGS applications," said
Thomas Stoeckl, CFO of HGS. "With
the implementation of IDITSuite, we will consolidate our current
systems, with a purpose-built solution which supports our business
models. We were impressed by the Sapiens team and trust Sapiens
with the implementation of this project."
IDITSuite supports all core operations and processes for
personal, commercial and specialty lines of business. Among its
many functionalities, IDITSuite will deliver a responsive UI,
powerful structured and text search, semantics of data model and
functional API documentation, modular integrated business
information functionality in role-based dashboards, and
multi-currency capabilities in financial planning (contract,
reinsurance and claims), accounting and more. It offers
comprehensive functionality like integrated workflow, task reminder
system with links to related documents, and fulfills the latest
authority and data protection regulations.
"We are very pleased to partner with HGS on this important
transformation that will enable them to achieve significant
competitive advantage," said Roni
Al-Dor, Sapiens president and CEO. "Together, we will ensure
HGS stays ahead of the curve with automation capabilities that will
reduce operational costs and allow for better and accelerated
underwriting and claims decisions."
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 HDI Global Specialty SE (HGS)
HDI Global Specialty SE is a specialty lines insurer. It is a
joint venture of Hannover Re and HDI Global SE, both strong and
established players in the insurance and reinsurance market, which
are part of the Talanx Group. HDI Global Specialty's focus is on
writing agency and specialty insurance business. With operations in
9 locations and access to a global network of more than 150
countries through the HDI Global SE network. HDI Global Specialty
also enjoys the same financial strength as HDI Global SE. For more
information: www.hdi-specialty.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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