UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2023
Commission File Number 000-20181
SAPIENS INTERNATIONAL CORPORATION N.V.
(Translation of Registrants name into English)
Azrieli Center
26 Harokmim St.
Holon, 5885800 Israel
(Address of Principal Executive Office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
CONTENTS
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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Sapiens International Corporation N.V. |
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Date: August 7,
2023 |
By: |
/s/ Roni Giladi |
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Name: |
Roni Giladi |
|
|
Title: |
Chief Financial Officer |
Exhibit Index
The following exhibit is
furnished as part of this Form 6-K:
3
Exhibit 99.1
![](https://www.sec.gov/Archives/edgar/data/885740/000121390023063820/ex99-1_001.jpg)
The South Carolina State
Accident Fund Selects Sapiens to Automate and
Modernize Its Workers Compensation and Digital Processes
Sapiens’ CoreSuite
for Workers Compensation, DigitalSuite, and Sapiens Intelligence will
improve efficiency and automation, delivered through Sapiens’
SaaS platform
Rochelle Park, N.J., August 7, 2023—Sapiens International
Corporation (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced
today that The South Carolina State Accident Fund (SAF), a state agency that offers guaranteed workers’ compensation insurance for
governmental entities, has selected Sapiens CoreSuite for Workers Compensation to provide a more intuitive system with detailed workflow
automation. SAF will also implement Sapiens DigitalSuite and Sapiens Intelligence for a more engaging user experience and enhanced processing,
respectively, delivered through Sapiens SaaS platform.
SAF needed a modern core solution to achieve its growth expectations
and provide the highest level of customer service. The system enhancements will improve communication and increase efficiency through
pre-configured, role-based user groups and messaging capabilities. SAF is an existing Sapiens customer, whose new system should go live
in October of 2024.
“With Sapiens’ demonstrated experience and operational
know-how, we knew we could become far more responsive to claimants and policyholders,” said Erin Farthing, Director of SAF. “Sapiens
has proven to be a true partner by understanding our business, responding to our requirements, and facilitating our transformation with
solutions that drive growth and value.”
“An intuitive and streamlined workers compensation administration
platform will help strengthen SAF’s overall operations,” said Jamie Yoder, Sapiens North America President & General Manager.
“We look forward to helping SAF modernize its core systems while continuing to build its strong foundation for continued growth
well into the future.”
Sapiens CoreSuite for Workers Compensation enables carriers and state
funds to improve operational performance by reducing claim inventories and supporting medical costs using advanced outcome-based case
management. Its real-time payment processing allows automatic and split payments, offsets and deductions, refunds, transfers and 1099
processing for financial efficiency. The platform’s rules-driven auto-adjudication and decision support enable proactive case management
that reduces claims settle resolution time and claims closure. Sapiens DigitalSuite offers a dynamic, digital engagement and enablement
platform for insurers to provide a unified, omni-channel experience, and can be leveraged together with Sapiens’ core solutions
or on top of other (non-Sapiens) solutions. Sapiens Intelligence integrates data to produce actionable insights, with a complete insurance
information hub that integrates all business units and product lines into one unified organizational view.
![](https://www.sec.gov/Archives/edgar/data/885740/000121390023063820/ex99-1_002.jpg)
![](https://www.sec.gov/Archives/edgar/data/885740/000121390023063820/ex99-1_001.jpg)
About Sapiens
Sapiens International Corporation (NASDAQ and 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 more than 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.
About The South Carolina State Accident Fund
The South Carolina State Accident Fund was established in 1943 for
the purpose of providing workers’ compensation coverage and administration for all state agencies and other local governmental entities
at reasonable prices. By creating a state agency for the sole purpose of “self-insuring,” the state of South Carolina provides
a stable source of guaranteed insurance coverage so that state workers are not placed at undue risk.
On July 1, 2013, the administration of the South Carolina Workers’
Compensation Uninsured Employers’ Fund was transferred to the State Accident Fund. The Uninsured Employers’ Fund was created to ensure
payment of workers’ compensation benefits to injured employees whose employers failed to acquire necessary coverage for their employees
as required.
By administering both funds, the State Accident Fund provides a more
stable environment for our state’s employers and their employees. For more information visit https://saf.sc.gov/index.php/contact-us
Media and Investor’s Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer &
Head of Investor Relations, Sapiens
yaffa.cohen-ifrah@sapeins.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, 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.
![](https://www.sec.gov/Archives/edgar/data/885740/000121390023063820/ex99-1_002.jpg)
3
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