MS Amlin
Insurance will replace legacy core systems in French,
Belgian and Dutch markets with Sapiens Core P&C Platform and
Reinsurance module, underpinned by its Data & Analytics
solution; all delivered in the Sapiens Cloud
HOLON, Israel, Feb. 2, 2023
/PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global
provider of software solutions for the insurance industry, today
announced that major European insurer MS Amlin Insurance S.E. has
selected Sapiens to deliver an overhaul of a number of their
software systems across several European countries.
Many of the insurer's legacy core systems in its French,
Belgian, and Dutch markets will be replaced by Sapiens IDITSuite,
leading to significant gains in simplicity and consistency across
markets. Cost savings will be achieved both through retiring a
large number of outdated legacy applications, and by reducing
reliance on complex onsite IT systems.
"We knew that our requirements would not be easy to fulfil,"
said Norbert Herkströter, COO of MS Amlin
Insurance. "We found Sapiens exceptionally proficient at
meeting the high benchmarks we set. I have no doubt that this will
be a mutually rewarding partnership, and I am excited to see our
company continue to flourish with the support of Sapiens
technology."
Sapiens IDITSuite is a digitally led, award-winning, end-to-end,
cloud-based modular insurance platform; supporting personal and
commercial lines of business from acquisition to billing, claim and
renewal. The MS Amlin Insurance
implementation will be using the PolicyMaster, BillingMaster, and
ClaimsMaster components, complimented by the market-leading Sapiens
ReinsuranceMaster module covering both ceded and assumed business.
This is underpinned by the Sapiens Intelligence data and analytics
module that pools the insurer's data to provide actionable insights
that improves underwriting risk selection and reduces claims
expense ratios.
"Achieving simplicity and operational excellence can be a
significant challenge and meeting such challenges is one of
Sapiens' chief strengths," said Roni
Al-Dor, Sapiens President and CEO. "Deploying a single
instance of our cloud-based P&C platform across three countries
to support MS Amlin Insurance's
profitable growth plans, whilst providing operational efficiencies
and enhanced customer and broker experiences is a tremendously
complex operation. For Sapiens, it is our mission to overcome such
obstacles."
The project will commence with MS Amlin
Insurance's operation in France before rolling out to their
Belgium and Netherlands markets.
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.
About MS Amlin
Insurance
MS Amlin Insurance S.E. is a specialist P&C and Marine
insurer with local teams operating across markets within
Europe and the UK. With a desire
to provide an unparalleled service experience, MS Amlin Insurance works closely with brokers and
businesses to deliver bespoke and digitally traded solutions to
meet client's insurance needs.
Part of the MS&AD Group, a global top 10 non-life insurer;
MS Amlin Insurance is domiciled in
Belgium and is rated A (Stable) by
Standard & Poor's and A (excellent) AM BEST.
Media and Investor's
Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer &
Head of Investor Relations, Sapiens
yaffa.cohen-ifrah@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
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currently available to us. Such forward-looking statements may be
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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
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and potential liability that heightened privacy laws and
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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.
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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
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events and circumstances reflected in the forward-looking
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SOURCE Sapiens International Corporation