Sapiens digital solution on the cloud will accelerate COPIC's
digital transformation and shorten the time for customers to attain
professional liability insurance coverage
RALEIGH, N.C., Dec. 2, 2021 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that COPIC Insurance, a medical
professional liability insurance provider that insures over 14,000
physicians and over 190 medical facilities and hospitals in 12
states, selected Sapiens to enhance its underwriting processes by
implementing Sapiens DigitalSuite.
Sapiens DigitalSuite is a flexible, cloud-native,
component-based digital platform specifically designed for
insurance. COPIC Insurance will be utilizing Sapiens AgentConnect,
a component of Sapiens DigitalSuite, which allows agents and staff
to manage their pipeline, sell policies to their consumers and
provide top-level customer service in real time. It integrates with
Sapiens CoreSuite for Medical Professional Liability to
provide COPIC a unified, omni-channel experience and frictionless
services.
The goal of implementing Sapiens digital solution is to enhance
the customer experience, while maintaining disciplined underwriting
integrity. Sapiens DigitalSuite will enhance COPIC's current manual
quote/indication/bind processes so they can provide customers an
efficient path to apply for medical professional liability
insurance coverage with COPIC.
"We are expanding our relationship with Sapiens to modernize our
underwriting processes for an improved customer experience. This
will greatly reduce the amount of time our underwriters and staff
spend manually recording and reporting indications and quotes. With
the automation and acceleration of policy creation and committal,
we can enable our customers to attain policies as quickly and
effortlessly as possible," said Tom
Koenig, COPIC's VP of IT.
"We are delighted to extend our relationship with COPIC and
empower them to harness digital disruption and use new cloud
technologies to their benefit. Sapiens digital solutions enables
COPIC to reinvent customer journey standards and create a
streamlined, effortless, consumer-focused process," said
Jamie Yoder, Sapiens North America
President & General Manager. "It's very gratifying to accompany
COPIC on this journey and help them increase their competitive edge
in today's evolving market."
Sapiens CoreSuite for Medical Professional Liability is the only
solution on the market today developed specifically for the
complexity of the medical professional liability market's
processing needs. Sapiens end-to-end, core insurance solution
supports individuals, groups, hospitals and institutional
businesses through the entire policy lifecycle, from policy quoting
to claim resolution. 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 COPIC Insurance
Founded in 1981, COPIC's mission is to improve medicine in the
communities they serve. COPIC is committed to improving medical
outcomes and invests in education, risk management programs,
patient safety initiatives, and other resources. Today, COPIC is
recognized as a trusted partner for physicians, medical
professionals, group practices, health care facilities, and
hospitals. Headquartered in Denver,
Colorado, COPIC offers coverage nationwide and serves
14,000+ physicians, 190+ medical facilities and hospitals. For more
information visit https://www.callcopic.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.
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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Media Contact
Shay Assaraf
Chief of Marketing, Sapiens
shay.assaraf@sapiens.com
Investor's Contact
Kimberly Rogers
Managing Director, Hayden IR
kim@haydenir.com