Sapiens digital, low-code insurance suite for P&C will
support Builders' current needs and fuel future geographical
expansion plans
RALEIGH, N.C., March 7, 2022 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
announced today that Builders Insurance Holdings S.A, a leading
global provider of P&C insurance and reinsurance services based
in Luxembourg, is transforming its
legacy system with Sapiens' end-to-end core solution.
Sapiens IDITSuite and Sapiens Intelligence will enable
the transformation of Builders' numerous legacy systems in its
general direct insurance business. Sapiens' modern core solution
will provide Builders with the most updated functionalities to
accelerate its digital operations and empower its plans for
multi-national business expansion.
"Sapiens not only offers a leading core solution to meet our
needs, but they have the industry knowledge and expertise to help
us grow our business and accompany us in our journey," said Fabrice
Volkaerts, Group COO of Builders. "With its global footprint and
industry expertise, Sapiens is an invaluable partner in all our
endeavors."
Builders Direct S.A, their insurance company, operates in
Germany, Belgium, Luxembourg, Norway and the UK. The specialty insurer now
requires a new solution to ensure better handling of its wide range
of services.
"Sapiens is delighted to serve as a trusted partner in Builders'
growth plans and to accelerate their short and long term needs as a
specialty line customer. We are fully aligned with Builders' vision
to onboard to the latest technology," said Roni Al-Dor, Sapiens president and
CEO. "Sapiens is pleased to enable Builders to integrate
all of their data into a complete insurance hub, gaining
operational insight to finetune critical processes across the
entire life insurance value chain."
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 insurance from inception to renewal and claims.
Sapiens Intelligence is an out-of-the-box solution with a full
industry standard data management model.
About Builders Insurance Holdings S.A
Builders Insurance Holdings S.A is wholly owned by HOCHTIEF
Insurance Broking and Risk Management Solutions GmbH, a subsidiary
of the German group HOCHTIEF Aktiengesellschaft (FRA: HOT).
Builders Direct S.A offers market-leading risk protection
specifically targeting those organisations with a genuine
commitment to managing risk. Its A.M. Best Rating of A-"Excellent"
is testament to Builders Direct's disciplined underwriting,
financial strength and solid security.
Established in 2000, Builders Re, with an AM Best rating of A-,
is one of the largest and most successful non-life reinsurance
companies based in Luxembourg.
With a reputation for agility, innovation and rapid response,
Builders Re provides bespoke solutions for a diverse range of risk
exposures.
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (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
Investors contact:
Kimberly Rogers
Managing Director, Hayden IR
+1-541-904-5075
kim@haydenir.com