Sapiens' solution powers Hollard Insure's digital strategy to
create a one-stop-shop for brokers
HOLON, Israel, April 13, 2022 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that it has expanded its relationship
with the Hollard Insurance Company (Hollard), to empower Hollard's
strategic digital drive with Sapiens cloud-native, low-code
DigitalSuite.
When Hollard Insure, the short-term division of the Hollard
Insurance Company, was looking to modernize their technology stack,
but keep the legacy back-end, they turned to Sapiens. The
large-scale modernization is aimed at digitizing products and
journeys through a low-code, digital front-end with strong
integration capabilities. Hollard, already a long-term partner of
Sapiens, with Sapiens CoreSuite for Life & Pension and Sapiens
ReinsuranceMaster, chose to further leverage Sapiens' digital
expertise, superior UI/UX experience and international
insurance-specific best practices.
Sapiens' solutions, facilitated by Microsoft Azure's cloud
technology, played a key role in Hollard's successful
transformation. Sapiens DigitalSuite provided the path to low-code
digital freedom they were seeking, including Sapiens Journey &
Form Composer and Sapiens API Conductor (ACE).
Collaborating as one united team with Sapiens, Hollard Insure
provided an Accident & Health Product solution as part of a
pilot to a specific market segment, which was previously not
possible. This will enable growth in the market segment, but more
importantly it laid the foundational building blocks to scale the
solution to other products.
"This inclusive design process working as one combined team with
Sapiens will have a profound effect on Hollard Insure, not only by
renewing the technology and decommissioning legacy systems, but
presenting an opportunity for significant growth and
sustainability," said Claus
Massmann, Head of Personal Lines at Hollard Insure.
"The project enables cost savings and reduces complexity and
enables us to achieve our end-state architecture – with
revolutionised broker engagement."
"We are excited to extend our long-term relationship with
Hollard and power them forward in their journey to create a
competitive edge in the digital age of insurance," said
Roni Al-Dor, Sapiens President and
CEO. "Our low-code solutions and business process design tools
provide Hollard Insure the ability to offer a superior customer
experience to their customers."
Designed exclusively for the insurance market by the industry's
leading digital experts, Sapiens Journey & Form Composer are
integral components of Sapiens enriched DigitalSuite, empowering
business users to introduce and manage journeys without having to
write code. Sapiens API Conductor (ACE) integrates with third-party
systems as well as legacy, core and backend systems to extend the
services insurers can digitally provide their customers and agents,
enabling them to leverage the data on their systems and make API
orchestration and customization simple for business users.
About Hollard
Established in 1980, the Hollard
Insurance Group ("Hollard") provides Non-Life and Life insurance as
well as investment products to a diverse customer base including
individual consumers, commercial entities, and corporate clients.
It ranks among a growing number of companies advocating an
inclusive growth model, measuring its social dividends as well as
its contribution to shareholders. Hollard's organisational purpose
is to enable more people to create and secure a better future.
Today, with almost 4,000 passionate Hollard staff in
Africa and Asia, more than four million policyholders and
assets close to R50 billion, Hollard is South Africa's largest independent and
privately-owned insurance group and has become an Afroglobal
insurance brand, operating in eight countries across Africa and Asia. Since inception, partnership has been at
the heart of its business model, with the group today boasting over
100 ventures across the insurance value chain. Each one
demonstrates the Hollard belief that there is always a better way
and the idea of "win-win-win", whereby Hollard, the partner and the
consumer all win through this spirit of collaboration and
co-creation.
The Hollard Insurance Company has offices in eight countries
around the world and represented in another 21 countries, through
partnerships.
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 40 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 more than 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,
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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
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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.
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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
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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
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