Decision Model.AI, the first product in the
Sapiens Decision AI portfolio, will address the growing market
demand for Decision Management technology driven by Machine
Learning and AI Integration
TUCSON,
Ariz., Oct. 25, 2023 /PRNewswire/ --
Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, today announced the launch of Sapiens Decision Model.AI,
integrating Microsoft Azure OpenAI Service into Sapiens Decision to
transform the way that business decision models are created.
Decision modelers can now input business policy from virtually
any source, written in conversational English, and have it
automatically translated into a decision model. Sapiens Decision
Model.AI is expected to reduce the time required to create a
conventional decision model by 30% or more, and further decrease
reliance on constrained IT resources.
Sapiens plans to further enhance its Decision AI portfolio in
early 2024 with Decision Integrate.AI which will enable business
users to easily integrate machine learning (ML) models within their
decision models. Analysts and their stakeholders will gain full
insight into the end-to-end components that go into their decision,
providing complete traceability of ML model inputs/outputs used in
decision making to improve auditability and reduce regulatory
risk.
The Sapiens AI strategy applies a consistent approach, without
the need for specialized or technical skills, to enable a much
broader set of users across the business who can increase the speed
and efficacy of decision making and automation. Sapiens Decision
also provides a technology-independent solution to fit any
architecture, allowing organizations to reuse their existing
infrastructure and governance models. Sapiens Decision is planning
additional AI based products to support the full lifecycle of the
decision modeling process, including Extract.AI, Data.AI, and
Optimize.AI.
"Sapiens Decision Model.AI enables organizations to implement
policy changes faster with far less technical skills required,"
said Jamie Yoder, President of
Sapiens North America. "We've all experimented with generative AI
services like ChatGPT but applying it to an enterprise use case
like this is truly exciting because of the potential productivity
enhancements it offers."
Sapiens' integration with Microsoft Azure OpenAI Service
provides additional options for customers to take advantage of AI
based solutions.
Dalia Ophir, Director, Worldwide
Financial Services Industry at Microsoft Corp. added, "Sapiens
Decision Model.AI integration with Azure OpenAI service provides
end client productivity gains and business outcomes."
To learn more about Sapiens Decision Model.AI 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. 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.
Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate
Communications
Sapiens International
Email: 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.
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