Sapiens IllustrationPro will improve the
company's speed-to-market by up to 30%
ROCHELLE PARK, N.J.,
May 18, 2023 /PRNewswire/
-- Sapiens International Corporation, (NASDAQ: SPNS)
(TASE: SPNS), a leading global provider of software solutions for
the insurance industry, today announced that an industry-leading
Midwest (U.S.) Life & Annuities insurer with a nationwide
network of financial advisors has chosen Sapiens to modernize its
annuity business line.
The insurer's current system is being replaced by Sapiens
IllustrationPro to take advantage of its robust user tool set and
ability to develop new products quickly and efficiently.
IllustrationPro will empower their sales distribution with
award-winning user experience and functionality with a compliant
illustration and quoting solution for new and existing business.
Its implementation in Sapiens Cloud Service on Azure will ensure
access to powerful software and smarter, faster, and more seamless
upgrades.
"We are excited to have the opportunity to enable this company
to achieve their time-to-market goals," said Jamie Yoder, Sapiens North America President
& General Manager. "The current market conditions are
especially exciting for Life and Annuity insurers, and Sapiens is
uniquely positioned to help them compete from a place of faster and
more personalized service."
Sapiens IllustrationPro for Life & Annuities is a modern,
cloud illustration and quoting solution enabling rapid, responsive,
and intuitive experiences for life, annuities, and health insurers
and their clients. It gives insurers the ability to bring new
products to market faster with dynamic quotes and complex, full
illustrations.
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. With more than
40 years of industry expertise, Sapiens' cloud-based SaaS insurance
platform offers pre-integrated,
low-code capabilities across core, data and digital
domains to accelerate our customers' digital transformation.
Serving over 600 customers in 30 countries, Sapiens offers insurers
across property and casualty, workers' compensation, and
life insurance 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.
Investor's
Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer &
Head of Investor Relations, Sapiens
yaffa.cohen-ifrah@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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