Sapiens Reinsurance solution will improve efficiency and
enable auditable processing to better serve
partners
RALEIGH, N.C., Sept. 6, 2022 /PRNewswire/ -- Sapiens
International Corporation (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that AEGIS, a leading mutual insurance
company, has selected Sapiens ReinsurancePro to enhance their
internal controls processes, automated calculations and reporting.
Sapiens ReinsurancePro replaces AEGIS' complex combination of
disparate custom applications and spreadsheets to streamline and
optimize processes.
"Implementing Sapiens Reinsurance solution will help us manage
the increasing volume and complexity of our ceded reinsurance
strategy and quickly respond to new reinsurance offerings," said
Scott Schenker, AEGIS Senior VP
& CIO. "Sapiens' solution stands out in the industry for its
proven ability to automate complex reinsurance requirements and
improve efficiency. The solution will expand our capabilities to
manage complex structures and total capacity, within a competitive
cost structure."
"We are very pleased to empower AEGIS in their quest for full
financial control of the reinsurance processes and to enable them
to increase efficiency by streamlining the process," said
Jamie Yoder, Sapiens North America
President & General Manager. "Our platform enables AEGIS to
take ownership of their data and proactively conduct analysis on
that data instead of relying on IT or external parties, so they can
better serve their customers."
Sapiens ReinsurancePro supports all types of reinsurance
processing, regardless of volume, in one comprehensive and powerful
reinsurance system, empowering insurance companies to manage and
automate the underwriting and administration of reinsurance,
including treaty and facultative, ceded, assumed and retroceded
reinsurance.
About AEGIS
AEGIS is a leading mutual insurance company that provides
liability and property coverage, as well as related risk management
services, to the energy industry. Its policyholders represent
virtually the entire energy infrastructure in North America, including electric and natural
gas utilities, related energy companies, oil & gas exploration
and production companies, water utilities, and transmission &
distribution companies. For more information, visit
www.aegislink.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 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
Dina Vince
Head of Investor Relations, Sapiens
dina.vince@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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