RALEIGH, N.C., Dec. 12, 2022 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that the Ohio Bureau of Workers'
Compensation (BWC), one of the largest Workers' Compensation
carriers in North America, has
gone live with Sapiens' latest release of CoreSuite for Workers'
Compensation.
BWC, Ohio's state Workers'
Compensation provider, is committed to providing the highest
level of customer service. The recent upgrade significantly
improves user experience with a restyled interface, enhanced
processes and workflow advancements. Business users can view a
snapshot of financials at any point in time, enabling faster and
more accurate customer service. Enhancements improve communication
and increase efficiency using pre-configured, role-based user
groups and messaging capabilities rather than relying on
emails.
Jamie Yoder, President and
General Manager, Sapiens North America remarked:
"We are proud of our longstanding successful partnership with Ohio
BWC based on the strength of our CoreSuite for Workers'
Compensation and the culture at BWC. This seamless release ensures
that BWC remains current with the latest technology as well as the
new functionality from our partner ecosystem. We are proud that the
implementation was delivered within just five months and went live
with no interruption to the daily activities of 2,500 end users.
This paves the way for many more future technology
advancements."
Sapiens' Workers' Compensation platform enables carriers and
state funds to improve operational performance by reducing claim
inventories and supporting medical costs using advanced
outcome-based case management. Its real-time payment processing
allows automatic and split payments, offsets and deductions,
refunds, transfers and 1099 processing for financial efficiency.
The platform's rules-driven auto-adjudication and decision support
enable proactive case management that reduce claims settle
resolution time and claims closure.
About Ohio Bureau of Workers' Compensation
(BWC)
Established in 1912, the Ohio Bureau of Workers'
Compensation is the exclusive provider of workers' compensation
insurance in Ohio, serving 257,000
public and private employers. With nearly 1,600 employees and
assets of approximately $21 billion,
BWC is one of the largest state-run insurance systems in
the United States. For more,
visit www.bwc.ohio.gov.
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
Investors'
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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