Sapiens IDITSuite will provide a single global platform for
underwriting and billing
HOLON, Israel, Oct. 11, 2022 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, today announced the deployment of its cloud-first P&C
platform IDITSuite with Germany-based VEREINIGTE HAGEL, the country's
leading provider of insurance to the agricultural industry.
VEREINIGTE HAGEL's current, historically grown application
landscape will be replaced by the Sapiens modular and complete
system that enables continuous end-to-end processing from front-end
portal to back-end billing.
"We selected the Sapiens P&C platform due to the product's
leading position, as well as the company's demonstrated experience
in insurance and local market know-how," said Dr. Rainer Langner, VEREINIGTE HAGEL CEO. "The
Sapiens solution, with its high degree of automation, enables
efficient processing of VEREINIGTE HAGEL's highly seasonal
business."
In addition to Germany,
VEREINIGTE HAGEL operates in Poland, the
Netherlands, Belgium,
Croatia, and other countries.
VEREINIGTE HAGEL chose to implement Sapiens IDITSuite in
Germany and Poland initially, and expand to additional
countries in the near future. The insurer is looking to modernize
the entire system landscape to enable them to work completely
digitally and consistently across all jurisdictions.
"Sapiens is delighted to serve as a trusted partner for
VEREINIGTE HAGEL and support its dynamic business. We are fully
aligned with VEREINIGTE HAGEL's vision," said Roni Al-Dor, Sapiens president and CEO. "Sapiens
Core P&C platform is an award-winning platform of rich
functionality and ease of use and we are happy to partner with
VEREINIGTE HAGEL on their transformation journey."
Sapiens IDITSuite is a component-based, core software solution
comprised of policy, billing and claims solutions. It supports
end-to-end core operations and processes for short-term/non-life
insurance from inception to renewal and claims.
About VEREINIGTE HAGEL
As a leading specialist insurer in the agricultural sector,
VEREINIGTE HAGEL, whose roots go back to 1824, offers innovative
insurance solutions for sustainable protection of agricultural
businesses against yield losses caused by weather-related risks
such as hail, storms, heavy rain, frost or drought. The many years
of experience of the insurance association are reflected in
solidarity with its members and tradition. Many companies have been
working with this specialist insurer for generations. For more
information visit https://vereinigte-hagel.net/de/.
About Sapiens
Sapiens International Corporation (NASDAQ:SPNS) (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.
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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