Sapiens IDITSuite will provide a single
overview of policies, from issuing proposals, policy documents to
payments
HOLON, Israel, Nov. 23, 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 the
Netherlands branch of HDI Global Specialty SE (HGS), a
leading global specialty insurance provider.
HGS' legacy system has been replaced by the Sapiens solution in
order to provide greater automation and standardization, and
globally available oversight on policies, risk exposures and
data.
"Our previous system was not an ideal fit for our specialty
business," said Ralph Beutter, HGS
CEO. "Sapiens has given us the ability to quickly and easily create
a bespoke system that serves our needs exactly as required."
Following the successful implementation of IDITSuite in
the Netherlands, the next HGS
business units to be digitally transformed by Sapiens will be
Belgium and Denmark. In addition, HGS has chosen to
digitally transform its reinsurance system with Sapiens' digital
reinsurance platform, a project scheduled to begin in the near
future.
"Sapiens has been extremely pleased with the high level of
collaboration and partnership with HGS, leading to successful
implementation within a short period of time," said Roni Al-Dor, Sapiens president and CEO. "Sapiens
IDITSuite is an award-winning Core P&C platform with rich
functionality and ease of use and we are happy to partner with HGS
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 HDI Global Specialty (HGS)
HDI Global Specialty SE is a specialty lines insurer. It is
owned by HDI Global SE, part of the Talanx Group. HDI Global
Specialty's focus is on writing agency and specialty insurance
business with operations in 9 locations and access to a global
network of more than 175 countries through the HDI Global SE
network. HDI Global Specialty also enjoys the same financial
strength as HDI Global SE. For more information, visit
https://www.hdi.global/redirect/hdi-global-specialty-se/.
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.
Media Contact
Tally Kaplan Porat
Director of Corporate Marketing, Sapiens
tally.kaplanporat@sapiens.com
Investor's
Contact
Dina Vince
Head of Investor Relations, Sapiens
dina.vince@sapiens.com
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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