RALEIGH, N.C., Sept. 22, 2021 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, today announced an agreement with Tokio Marine
Highland, a leading property and casualty underwriting
agency, to implement Sapiens ClaimsPro, which is part of Sapiens
CoreSuite for Property and Casualty. Tokio Marine Highland's decision to implement Sapiens'
solution follows the successful implementation of their
construction book using Sapiens PolicyPro and Sapiens
BillingPro.
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Tokio Marine Highland, formerly
WNC Insurance Services, offers a broad suite of specialty risk
management solutions, including private flood, construction, fine
art and specialty property products. Tokio Marine Highland made the strategic decision to
complete their enterprise-wide insurance platform transformation
with Sapiens ClaimsPro, an integral part of Sapiens CoreSuite for
P&C. The company's modernization plan includes the core
transformation and digitalization of their processes to improve
their customer experience and enable fast growth.
"Sapiens was once again able to demonstrate the benefits of
enhanced claims capabilities, and as a result, we are pleased to
extend our growing partnership. Speed-to-market is a key driver for
Tokio Marine Highland. Sapiens ClaimsPro platform is a natural
fit that provides the capabilities we need to work effectively and
seamlessly with our brokers and agents," said Kiran Achen, Chief Information Officer for Tokio
Marine Highland. "We appreciate Sapiens' continual investment in
modern, integrative and self-sufficient core insurance technology,
as well as their investment in eco-partnerships that support our
business lines and provide us with more innovation."
"Our business team has now engaged with our combined
Sapiens/Tokio Marine Highland implementation team and is making
solid progress in delivering a feature-rich and modern claims
platform that will be a key tool as we grow our business," said
Jeff Garretson, Chief Claims Officer
for Tokio Marine Highland.
"The strategic partnership between Tokio Marine Highland and
Sapiens has forged the foundation for significant growth," said
Jamie Yoder, Sapiens North America
President & General Manager. "Completing Sapiens CoreSuite
enterprise platform will be highly beneficial to Tokio Marine
Highland's business operations, by meeting today's industry demands
and preparing them for the future."
Sapiens cloud solution ClaimsPro provides fundamental claims
transactions, workflow, tasks, diaries and management functions.
ClaimsPro, is a modular solution which can be implemented
together with other modules or stand alone. It offers robust
capabilities, including a feature-rich set of claims management
reports, as well as interactive dashboards and robust integration
capabilities into third-party services.
One of the primary benefits ClaimsPro offers Tokio Marine
Highland is that the solution allows information partitioning for
agents and brokers, as well as workload balancing and integration
to the company's PolicyPro/BillingPro platforms. The solution
provides full lifecycle support for handling claims for all
personal and commercial lines of business, including workers'
compensation.
About Tokio Marine Highland
Tokio Marine Highland is a
leading property and casualty underwriting agency that offers
distinct solutions for private flood, construction, fine art and
specialty property, and includes Precise Adjustments, a wholly
owned subsidiary that provides industry-leading claims
capabilities.
Founded in 1962, Tokio Marine Highland Insurance Services, Inc.
(formerly WNC Insurance Services, Inc.) is a wholly owned company
of Tokio Marine Kiln, one of the largest carriers in the Lloyd's of
London insurance market, rated A
(Excellent) by AM Best for financial strength, and a member of the
Tokio Marine Group. Tokio Marine
Highland's home office is located in Chicago, IL, with operating centers in
Dallas, TX, Irvine, CA, Miami,
FL, Naperville, IL, and
South Pasadena, CA.
For more information, visit our website at
www.tokiomarinehighland.com.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS)
empowers the financial sector, with a focus on insurance, to
transform and become digital, innovative and agile. Backed by more
than 35 years of industry expertise, Sapiens offers a complete
insurance platform, with pre-integrated, low-code solutions and a
cloud-first approach that accelerates customers' digital
transformation. Serving over 600 customers in 30 countries, Sapiens
offers insurers across property and casualty, workers compensation
and life markets the most comprehensive set of solutions, from core
to complementary, including Reinsurance, Financial &
Compliance, Data & Analytics, Digital, and Decision
Management. For more information visit www.sapiens.com or
follow us on LinkedIn.
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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