Sapiens' end-to-end solution will fulfil all
of Old Mutual's business, analytical and regulatory data
needs
HOLON, Israel, Aug. 8, 2022
/PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) and (TASE: SPNS), a leading global
provider of software solutions for the insurance industry, today
announced the deployment of Sapiens Intelligence by Old Mutual
Insure (OMI), South Africa's
oldest insurance company. Sapiens' solution will provide an
enterprise-wide consolidated view of the organization's data and
support its reporting and analytics needs.
Old Mutual Insure has been a Sapiens customer since 2006, a
16-year relationship that began with the implementation of Sapiens
Tia Enterprise solution for its core business, followed by the
adoption of Sapiens ReinsuranceMaster for its reinsurance business.
The addition of Sapiens Intelligence is the natural next step in
Old Mutual's digital transformation strategy with Sapiens.
"We were looking for an enterprise-level data platform with
native connectivity to our existing systems, and Sapiens
Intelligence was a perfect fit," said Denver Naidoo, Old Mutual Insure's Chief Data
Officer. "Due to licensing issues with our hosting platform, we
requested that Sapiens cut back their normal nine-to-ten-month
implementation period down to six or seven months, which they were
successfully able to accommodate."
Sapiens Intelligence has a complete and optimized insurance
information hub, integrating all business units and product lines
into one unified and consistent organizational view.
"Old Mutual Insure now has access to a wide landscape of
heterogenous systems ranging from core applications from Sapiens to
third-party external data sources," explained Roni Al-Dor, Sapiens president and CEO. "The
foundational R&D that was done on this project will be brought
to bear on other existing Sapiens Tia Enterprise customers, in
regions across the globe."
Sapiens Intelligence enriches processes with model outcome and
predictions, optimizing the insurer's performance – driving cost
reduction as well as improving customer experience.
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 https://sapiens.com or follow
us on LinkedIn.
About Old Mutual Insure
Old Mutual Insure is the oldest insurer in South Africa, tracing its history back more
than 177 years. It services personal, commercial and corporate
customers across South Africa, as
well as in Namibia, Botswana, Zimbabwe, and Nigeria under the Old Mutual brand. Old Mutual
Insure is the second largest Insurer in South Africa with a gross written premium over
R15.92 million in 2021. As one on the leading companies in southern
Africa's non-life insurance
landscape, they are justifiably proud of their tradition of service
and quality. For more information visit
https://www.oldmutual.co.za/.
Media Contact:
Shay Assaraf
Chief of Marketing, Sapiens
Shay.assaraf@sapiens.com
Investor's Contact
Dina Vince
Head of Investor Relations
Sapiens
ir@sapiens.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