Sapiens IDITSuite for Property &
Casualty was recognized as a "Luminary" solution excelling in both
Advanced Technology and Breadth of Functionality.
HOLON, Israel, March 6, 2023 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, announced today that Sapiens IDITSuite for Property and
Casualty has won Celent's 2023 XCelent award for the Breadth of
Functionality category in the EMEA region.
Research and consulting firm Celent analyzed 46 policy
administration systems for EMEA Property & Casualty (general)
insurance, using the Celent ABC Vendor View, a resource for
identifying premier technology solutions serving the insurance and
financial industries. The vendor view shows the relative positions
of each vendor in three categories: Advanced Technology, Breadth of
Functionality (for which IDITSuite was given the XCelent award),
and Customer Base and Support.
Due to IDITSuite's positioning near the top of the field also in
Celent's other two categories, the product was named a "Luminary"
solution, the top tier in Celent's Technical Capabilities Matrix.
As the only non-US-based solution awarded this distinction,
IDITSuite is clearly positioned as a leading platform in EMEA. The
Luminary classification was also given to Sapiens IDITSuite in the
APAC region.
"I am gratified to see Sapiens recognized once again as a
driving force in the field of P&C software solutions," said
Roni Al-Dor, Sapiens president and
CEO. "Digital-first insurance and core modernization are powering
GWP growth across our customer-base and there is a real momentum
that we are delighted to be contributing to. Sapiens enables speed,
scale, insurance transformation and growth. We are proud that this
is being recognized in Celent's independent assessment."
According to the Celent report: "Sapiens IDITSuite continues to
have a strong presence in Europe,
with a growing customer base in the region, especially with larger
insurers, and has also gained clients in Asia-Pacific since our last report. Celent
expects to see further growth in their customer base in the coming
years."
In the same report, Celent also highlighted and praised two
other Sapiens solutions. Sapiens Tia Policy Solutions was named a
Functionality Standout (both in EMEA as well as the LATAM region)
and Sapiens DianaSuite was named a Noteworthy Solution. The
parallel Celent report for the North
America region also included high praise for two Sapiens
solutions. Sapiens PolicyPro for P&C was named a Functionality
Standout and Sapiens PolicyPro for Workers' Compensation was named
a Noteworthy Solution.
Sapiens IDITSuite is a component-based, core software solution
for end-to-end core operations and processes. An award-winning
Policy Administration System, it supports personal and commercial
lines of business from acquisition, billing, claim, and
renewal.
To download the report, click here.
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 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
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.
Logo:
http://mma.prnewswire.com/media/585787/Sapiens_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/sapiens-wins-2023-celent-xcelent-award-for-property--casualty-pas-in-emea-301763071.html