Sapiens' CoreSuite for Workers
Compensation, DigitalSuite, and Intelligence will improve
efficiency and automation, delivered through Sapiens' cloud
services
ROCHELLE
PARK, N.J., Nov. 9, 2023
/PRNewswire/ -- Sapiens International Corporation, (NASDAQ:
SPNS) (TASE: SPNS), a leading global provider of software solutions
for the insurance industry, announced today that the Saskatchewan
Workers' Compensation Board (WCB), a provincially legislated body
that administers the provincial compensation system on behalf of
workers and employers, has selected Sapiens' CoreSuite for Workers
Compensation, DigitalSuite, and Intelligence to transform the WCB's
legacy core systems with a modern, integrated platform for
efficient service delivery. The WCB will also use Sapiens' cloud
services for a seamless and secure hosting experience.
Saskatchewan WCB is looking to meet customers' evolving
needs by replacing their core workers compensation systems to
increase operational efficiency through automated workflows and
work management. The WCB's selection of CoreSuite for Workers
Compensation was prompted by its easily configurable, out-of-the
box functionality and proven, purpose-built solution for workers'
compensation. The WCB chose Sapiens for their expertise in the
workers' compensation industry and focus on the customer
experience. The WCB is a new Sapiens' customer whose phased
implementation will occur over three years beginning with their
employer accounts system (policy/billing) followed by their claims
and case management system in phase two.
"Sapiens provides an optimized, integrated platform coupled with
the right people and a proven track record in successful
implementations and ongoing support," said Phillip Germain, Saskatchewan WCB CEO. "Sapiens
understands the business of workers' compensation and provides a
solution along with industry best practices to enable us to
successfully transform our organization to meet our customers where
they are today and long into the future."
"Our solutions' enhanced capabilities will improve the
efficiency and effectiveness of Saskatchewan WCB's core
service delivery to customers and enable outcomes that improve
their long-term financial health," said Jamie Yoder, Sapiens North America President
& General Manager. "Sapiens looks forward to supporting the WCB
to continuously improve as their customer needs and expectations
evolve."
A modern open architecture platform that is easy to deploy and
maintain, Sapiens' CoreSuite for Workers Compensation creates
new ways to improve collaboration and reduce time to market,
offering greater value to end-users. DigitalSuite offers a unified,
omni-channel experience that customers expect, and Sapiens'
Intelligence is an integrated solution that produces actionable
insights to maximize the value of data for smarter decision
making.
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. For more
information visit https://sapiens.com or follow us
on LinkedIn.
About Saskatchewan Workers' Compensation Board
The Saskatchewan Workers' Compensation Board (WCB) operates like
an insurance company. The WCB provides guaranteed benefits and
programs to injured workers in industries covered by The Workers'
Compensation Act, 2013 and protects registered employers from
lawsuits when a workplace injury happens.
Saskatchewan WCB was established in 1911 because of a historic
compromise between Saskatchewan
workers and employers. Under that compromise, workers injured on
the job in covered industries do not have to pay for the benefits
they receive or sue their employers to get them. Costs are paid
entirely by Saskatchewan employers
in covered industries. This is referred to as a no-fault insurance
system, also referred to as the compensation system.
Saskatchewan WCB's vision is to eliminate injuries and restore
abilities. This vision is the fundamental driver of its business
and the supports provided to their customers. The WCB is governed
by The Workers' Compensation Act, 2013.
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.
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SOURCE Sapiens International Corporation