Sapiens was chosen as the sole vendor,
solution includes: CoreSuite, Sapiens Intelligence and Sapiens
Cloud Services and Cloud Hosting
HOLON, Israel, Dec. 14,
2022 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global
provider of software solutions for the insurance industry,
announced with LocalTapiola (LT), Finland's second largest insurance company,
the launch of the new Policy Administration System. The new Policy
Administration System leverages Sapiens' award-winning CoreSuite,
Sapiens Business Intelligence, Sapiens Cloud Services (SCS) and
Cloud Hosting to replace the 8 Policy Administration Systems (PAS)
with a next-generation digital experience.
The consolidation of 8 PAS system into a single seamless digital
experience will reduce technology debt, support full compliance
with statutory requirements and legislation as well as meet
customer demands and dynamic behavior. As a result, LocalTapiola
will be customer-centric with a next-generation customer experience
and added-value, positioning the company as a digital pioneer in
the region. Furthermore, the new Sapiens-based PAS system will
significantly reduce IT debt and increase the speed-to-market of
new products and solutions.
"Partnering with Sapiens provides LocalTapiola Life the agility
and abilities to provide our customers a unique digital experience.
An experience with the customer in mind, positioned at the
forefront of the company backed with the technology to deliver a
game-changing policy administration system. Sapiens' presence in
the Nordic market makes it a perfect partner that brings both
global technology and knowledge with local understanding and
service," says Pasi Haarala, CEO
LocalTapiola Life company.
"Establishing our presence in the Finnish market with
LocalTapiola Life is a true honor and further strengthens our
strategic presence in the Nordic region," says Ron Al-Dor, CEO of Sapiens. "This partnership
signifies the true spirit of digitalization and LocalTapiola Life
as the flagship project in Finland."
Sapiens' solutions offer a dynamic, digital engagement and
enablement platform for insurers to provide a unified, omni-channel
experience. The flexible, component-based platform can be leveraged
together with Sapiens' core solutions or in addition to other
(non-Sapiens) solutions.
About LocalTapiola
LocalTapiola Group is a mutual group of companies owned by its
customers. LocalTapiola is a partner in lifelong security for its
customers. Group offering features an increasing variety of
forecasting, security and well-being solutions that make the
everyday life of Finns safer, more successful financially and
healthier. LocalTapiola serves private customers, entrepreneurs,
corporate customers, farmers and organisations. LocalTapiola's
products and services cover nonlife, life and pension insurance, as
well as investment and saving services. We are also professionals
in corporate risk management and welfare in the workplace.
LocalTapiola's network of regional companies consists of 19
regional mutual insurance companies.
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
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
|
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