Version 12.0 reflects Sapiens' investment strategy and tech
advancements to support the diverse needs of insurers across all
personal and commercial lines of business
ROCHELLE PARK, N.J.,
Aug. 27, 2024 /PRNewswire/
-- Sapiens International Corporation, (NASDAQ: SPNS) (TASE:
SPNS), a leading global provider of software solutions for the
insurance industry, today announced the launch of its latest
version of Sapiens CoreSuite for Property & Casualty for the
North American insurance market.
The new release delivers insurers a multitude of functional and
performance improvements, as well as enhanced security features.
V12.0 is an integral part of Sapiens Insurance Platform, a
future-proof, AI-based, open and integrated platform. The release
fully supports the platform's digital persona layer and expands the
robust core business capabilities. The release is available to all
North American CoreSuite P&C customers.
"This latest release accelerates the pace of innovation and
value delivery to our customers," said Roni
Al-Dor, Sapiens President and CEO. "We've improved the
consistency of our data, to help insurers leap the hurdles of data
migration and ensure their data is consistent and AI-ready. The
value-added enhancements of the new version reflect our long-term
strategy to leverage corporate investments in support of our
customers."
The new release significantly improves efficiency of billing,
database storage for policy and billing, and customer
synchronization implementation. The release also increases the
functionality of Sapiens' powerful formula capabilities, syncing
seamlessly with Sapiens ClaimsPro for Property & Casualty,
Sapiens PolicyPro, and Sapiens BillingPro. These enhancements
further improve the efficiency, ease of use, and automation of the
platform. Enhancements to ClaimsPro include the introduction
of reporting tables to enable near real-time reporting, augmented
deductible tracking capabilities, extended notes capabilities for
sent or received correspondence, and enhanced Hi-Marley™ text
support for when a case is re-assigned. These enhancements allow
for rapid access to claims data from any reporting tool or system,
and significantly improve the overall claims customer
experience.
Sapiens CoreSuite for Property & Casualty is a truly
integrated suite to address all North American P&C insurer
needs, including policy administration, billing, and claims. The
solution empowers P&C insurers to quickly adjust to market and
regulatory changes, evolving customer expectations, natural
catastrophes and the constant emergence of new competitors, by
including automated decision, reinsurance, data & analytics and
digital applications for a completely modernized landscape.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
global leader in intelligent insurance software solutions. With
Sapiens' robust platform, customer-driven partnerships, and rich
ecosystem, insurers are empowered to future-proof their
organizations with operational excellence in a rapidly changing
marketplace. We help insurers harness the power of AI and advanced
automation to support core solutions for property and casualty,
workers' compensation, and life insurance, including reinsurance,
financial & compliance, data & analytics, digital, and
decision management. Sapiens boasts a longtime global presence,
serving over 600 customers in more than 30 countries with its
innovative SaaS offerings. Recognized by industry experts and
selected for the Microsoft Top 100 Partner program, Sapiens is
committed to partnering with our customers for their entire
transformation journey and is continuously innovating to ensure
their success. Visit our website at www.sapiens.com
Investor and Media Contact
Yaffa Cohen-Ifrah
Sapiens Chief Marketing Officer and Head of Investor Relations
Email: Yaffa.cohen-ifrah@sapiens.com
Forward Looking Statements
Certain matters discussed in this press release that are
incorporated herein and therein 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 certain 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; the global
macroeconomic environment, including headwinds caused by inflation,
relatively high interest rates, potentially unfavorable currency
exchange rate movements, and uncertain economic conditions, and
their impact on our revenues, profitability and cash flows;
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 coronavirus epidemic, and
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 Annual
Report on Form 20-F for the year ended December 31, 2023, to be filed in the near
future, 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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