Sapiens IDITSuite for Property & Casualty coupled with
Sapiens Intelligence provides OPES a turnkey solution for expanding
its business
HOLON, Israel ,
May 22,
2023 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global
provider of software solutions for the insurance industry,
announced today that OPES Insurance Company (OPES), the first
digital insurer in Vietnam, has
chosen Sapiens IDITSuite to modernize its core insurance
business.
Sapiens was selected for its strong product configuration,
digital API capabilities and proven experience with empowering
insurers to achieve digital transformations. Fully eliminating
audit risks was a further, significant factor behind adopting
Sapiens IDITSuite with its robust approval status-tracking
capabilities. The Sapiens cloud-based solution will be deployed on
the Azure cloud.
"Sapiens has been the ideal partner to help us achieve the
modernization goals we have set for ourselves," said Tung Dang, CEO
of OPES Insurance. "We look forward to improving our ability to
scale in a timely and cost-efficient manner to deliver new products
and services to our customers. We needed a cloud-based end-to-end
solution to automate operations and digitize manual and paper-based
processes, and I believe that Sapiens provides the best such
solution."
The OPES implementation is underpinned by the market-leading
Sapiens Intelligence data and analytics module that pools the
insurer's data to provide actionable insights, improving
underwriting risk selection and reducing claims expense ratios.
"It is immensely gratifying to work with a future-oriented
insurer such as OPES, and we look forward to helping them build
towards a cloud-native architecture landscape," said Roni Al-Dor, Sapiens President & CEO. "In
addition, Vietnam is an entirely
new and exciting market for Sapiens to enter in which we fully meet
the country's regulatory requirements."
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.
About OPES
OPES Insurance Company is a digital Insurance company launched
in 2018, serving the Vietnam
market. OPES is owned by Vietnam Prosperity Joint-Stock Commercial
Bank (VPBank), the largest retail bank in Vietnam. OPES aims to be a pioneer in using
technology to improve the quality of community life with simple and
convenient digital insurance products. For more information, please
visit: https://opes.com.vn/
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.
Media and Investor's
Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer &
Head of Investor Relations, Sapiens
yaffa.cohen-ifrah@sapiens.com
|
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SOURCE Sapiens International Corporation