The joint solution will deliver automated, simplified
regulatory compliance solution
HOLON, Israel, March 9, 2022 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE:
SPNS), a leading global provider of software solutions for the
insurance industry, announced today an agreement with Albany Group,
which specializes in risk and intelligence software, for an
automated, compliance, risk management and regulatory platform that
provides a comprehensive third-party supply chain management
solution.
The partnership simplifies complex compliance processes that are
carried out across third-party platforms such as Lloyd's, to
efficiently meet strict industry and regulatory requirements at
reduced costs and minimal risk.
"Albany and Sapiens are a natural fit. Combining our
technologies brings real added value to our customers, simplifying
software integration so that configurable compliance comes
virtually at the touch of a button," says Stewart Griffiths, Co-Founder and CEO of Albany
Group.
The solution provides analysis tools for a complete oversight,
performance management, and third-party supply chain audit,
ultimately saving time while maintaining consistency throughout the
process. The combined solution now fills a significant gap in the
current policy administration and compliance services, with
critical business data siloed. Tight integration improves
automation, resulting in greater productivity and real-time
accuracy gains.
"We are extremely excited to partner with Albany Group to
transform the user experience for regulatory and compliance
solutions that span over multiple platforms into a simple, seamless
and automated process," says Roni
Al-Dor, Sapiens President & CEO. "Our cohesive solution
will accompany Lloyd's market players from start to finish, with
the greatest efficiency available on the market."
Albany's Group Conect™ application will be integrated with
Sapiens Lloyd's ecosystem, to automate onboarding and
access.
About Albany Group
Founded in 2007, Albany Group specializes in risk and
intelligence software and is proud to serve some of the biggest
names in insurance and financial services. The company is built on
decades of insurance industry, analytical and military expertise —
focused on delivering the most powerful intelligent risk management
platform, utilizing pioneering technologies and applications.
Albany Group's mission is to bring customers control, insight and
simplicity — to drive efficiencies, protect reputations and embed
supply chain regulatory compliance. https://www.albanygrp.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
Investor's
Contact
Kimberly
Rogers
Managing Director,
Hayden IR
+1
541-904-5075
kim@HaydenIR.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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