HOLON, Israel, December 1, 2014 /PRNewswire/ --
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector, announced today that specialist insurer Hiscox has entered
production with the Sapiens IDIT Software Suite (Sapiens IDIT) for
policy administration, claims and billing.
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The first Hiscox product to be migrated onto the Sapiens IDIT
platform is Hiscox Home Insurance in the UK. Hiscox plans to
migrate all of its global retail insurance business to the Sapiens
IDIT platform, so it can benefit from a single, unified platform.
Once complete, Hiscox will decommission its legacy environment to
take full advantage of the cost benefits, speed-to-market
advantages, product and process flexibility, and simplified
maintenance offered by Sapiens IDIT.
"With our customers' expectations continually evolving in
today's digital landscape, we knew we needed to embrace new
technology to consistently provide an exemplary customer experience
relative to both products and services," said Stephane Flaquet,
Hiscox's CIO. "The Sapiens IDIT system provides the necessary
breadth of functionality, while offering us agility and a high
degree of configurability to set up new products, or modify
existing ones."
"Working with the Sapiens team during the implementation has
been a great experience. Sapiens has proven that they are committed
to our success and they have been rigorous in working with our team
to ensure our expectations and timeline are met," said Flaquet.
Some of the benefits Hiscox is expecting include:
- Integrated platform for Underwriting, Policy Administration,
Claims Management and Billing and Collections
- Pace of change with configurable products, rates and rules
- Superb service enabled by more customer-centric solutions
- Multi-channel platform for our customers, brokers and
partners
- Increased operational effectiveness through automation and
straight-through processing
"Sapiens is enjoying strong momentum in the global P&C
insurance market and having an outstanding organization like Hiscox
select and successfully deploy our solution serves to strengthen
our position in a strategic region," said Gary Sherne, president of Sapiens'
P&C/General Insurance and Reinsurance division. "We look
forward to continuing to work closely with the Hiscox team as they
move the remaining retail business to the Sapiens IDIT platform to
achieve their goal of a common and configurable core processing
platform."
About Hiscox
Hiscox, the international specialist insurer, is headquartered
in Bermuda and listed on the London Stock Exchange
(LSE:HSX). There are three main underwriting divisions in the Group
- Hiscox London Market, Hiscox Re and Hiscox Retail, which includes
Hiscox UK and Europe, Hiscox Guernsey, Hiscox
USA and subsidiary brand,
DirectAsia. Hiscox underwrites internationally traded, bigger
ticket business and reinsurance through Hiscox Re and Hiscox London
Market. Through its retail businesses in the UK, Europe and the U.S., Hiscox offers a range of
specialist insurance for professionals and business customers, as
well as homeowners.
For further information: visit http://www.hiscoxgroup.com.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector. Sapiens offers core, end-to-end solutions to the global
general insurance, property and casualty, life, pension and
annuities, reinsurance and retirement markets, as well as business
decision management software. The company has a track record of
over 30 years in delivering superior software solutions to more
than 130 financial services organizations. The Sapiens team of
approximately 1,000 professionals operates through our fully-owned
subsidiaries in North America, the
United Kingdom, EMEA and
Asia Pacific. For more
information: http://www.sapiens.com.
Some of the statements in this press release may constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities and
Exchange Act of 1934 and the United States Private Securities
Litigation Reform Act of 1995. Words such as "will," "expects,"
"believes" and similar expressions are used to identify these
forward-looking statements (although not all forward-looking
statements include such words). These forward-looking statements,
which may include, without limitation, projections regarding our
future performance and financial condition, are made on the basis
of management's current views and assumptions with respect to
future events. Any forward-looking statement is not a guarantee of
future performance and actual results could differ materially from
those contained in the forward-looking statement. These statements
speak only as of the date they were made, and we undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
We operate in a changing environment. New risks emerge from time to
time and it is not possible for us to predict all risks that may
affect us. For more information regarding these risks and
uncertainties as well as certain additional risks that we face, you
should refer to the Risk Factors detailed in Item 3 of Part III of
our Annual Report on Form 20-F for the year ended December 31, 2013 and subsequent reports and
registration statements filed from time to time with the Securities
and Exchange Commission.
Contact
Yaffa Cohen-Ifrah
Vice President Corporate Marketing and Communications
Sapiens International
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: Yaffa.cohen-ifrah@sapiens.com
SOURCE Sapiens International Corporation