The partnership leverages both companies'
extensive expertise in data-driven digital
transformation
RALEIGH, N.C. , April 25,
2022 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global
provider of software solutions for the insurance industry, and
Mindtree, a global technology consulting and services company,
today announced a partnership to help drive digital transformation
through the insurance industry. The combination of Sapiens'
industry leading, cloud native, core suite of insurance
applications and Mindtree's deep insurance domain knowledge and
expansive delivery capabilities will increase the scale, speed to
market and customer satisfaction as insurance companies embrace
digital. Designed to support insurance system implementations, the
partnership will focus initially on North
America, with plans to grow into Europe and Asia.
![Sapiens_Logo Sapiens_Logo](http://mma.prnewswire.com/media/585787/Sapiens_Logo.jpg)
"We are delighted to collaborate with Mindtree in Property &
Casualty and Life & Annuities. Our collective insurance
industry and digital transformation experience will further
strengthen our delivery capabilities and scale which will drive
continued growth and customer satisfaction," said Jamie Yoder, Sapiens North America President
& General Manager. "Together we will power insurers with the
competitive edge to meet market demands and succeed in the digital
age of insurance."
"Our partnership with Sapiens emphasizes our longstanding
commitment to innovation," said Mukund
Rao, Chief Business Officer for Banking, Financial Services
and Insurance at Mindtree. "Digital technologies have unlocked a
significant opportunity for P&C insurers to not just streamline
processes, but to also drive new business and operating models
centered on engaging and disruptive experiences. The combined
strengths of Mindtree and Sapiens will enable insurance companies
to maximize digital transformation and achieve business
outcomes."
Sapiens' insurance solutions enable carriers to improve
operational efficiency, expand revenue streams and increase
customer engagement and satisfaction using digital and omni-channel
experience. Sapiens CoreSuite for Property & Casualty and Life
& Annuities enables insurers to rapidly deploy core systems on
the cloud, including business intelligence, reinsurance and digital
portal solutions that support all lines of business.
With many years of experience in engagements with customers
around the world, the combined expertise of Sapiens and Mindtree
will help lower risk and accelerate the change process for
customers during their implementations.
About Mindtree
[NSE: MINDTREE] is a global technology consulting and services
company that enables enterprises across industries to drive
superior competitive advantage, customer experiences and business
outcomes by harnessing digital and cloud technologies. A digital
transformation partner to more than 275 of the world's most
pioneering enterprises, Mindtree brings extensive domain,
technology and consulting expertise to help reimagine business
models, accelerate innovation and maximize growth. As a socially
and environmentally responsible business, Mindtree is focused on
growth as well as sustainability in building long-term stakeholder
value. Powered by more than 35,000 talented and entrepreneurial
professionals across 24 countries, Mindtree — a Larsen & Toubro
Group company — is consistently recognized among the best places to
work. For more, please visit www.mindtree.com or @Mindtree_Ltd.
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 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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SOURCE Sapiens International Corporation