Sapiens' global best practice and
industry-specific expertise will help the Portugal insurer to efficiently and
effectively manage its global reinsurance program
HOLON, Israel, March 29,
2022 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
today announced that a leading insurance company in Portugal, both in life and non-life, selected
to implement Sapiens ReinsuranceMaster. ReinsuranceMaster will
enable the insurer to better manage its global, complex and
diversified insurance product sales network of reinsurance business
for life and non-life sectors by improving efficiency and expanding
capabilities.
![Sapiens Logo Sapiens Logo](http://mma.prnewswire.com/media/585787/Sapiens_Logo.jpg)
Sapiens' solution provides comprehensive support for
multi-company organizations with complex structures, including
affiliated reinsurance, multi-currency calculations, cash
settlements and GL accounting, optimizing complex operations and
improving efficiencies of scale. Managing and optimizing
reinsurance coverage is a critical task, and this is especially
true for multinational insurance companies. Insurers need a
reinsurance software solution that enables them to handle all
reinsurance activities on a single platform, and provides full
financial control and auditing support of reinsurance contracts and
activities for all lines of business.
"Our client was seeking a proven, flexible and modern
reinsurance solution with a capacity for tracking policy and claims
transactions, that automates complex accounting tasks and is
flexible enough to change with new terms and conditions," said
Roni Al-Dor, Sapiens president and
CEO. "We are excited to provide this leading insurer with the
powerful Sapiens ReinsuranceMaster solution and enable them to
leverage our vast experience with a multinational customer
base."
Sapiens ReinsuranceMaster offers complete support for all types
of reinsurance contracts – treaty & facultative, proportional
& non-proportional, ceded and assumed business. All activities
are maintained in one easy-to-use, cloud-based, web-based user
solution, with extensive and comprehensive, automated process
allocations and fully automated retroactive processing support.
More than 100 insurers worldwide use Sapiens' reinsurance
solutions.
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:
http://www.sapiens.com.
Media
Contact
Shay Assaraf
Chief of Marketing,
Sapiens
Shay.assaraf@sapiens.com
|
Investors
Contact
Kimberly
Rogers
Managing Director,
Hayden IR
kim@HaydenIR.com
+1
541-904-5075
|
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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SOURCE Sapiens International Corporation