ROCHELLE
PARK, N.J., Nov. 28,
2023 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global
provider of software solutions for the insurance industry,
announced today that Sapiens IllustrationPro for Life &
Annuities has won two of Celent's 2023 XCelent awards, in the
Breadth of Functionality and Customer Base and Support categories
in the North America region.
Sapiens has also been recognized as a "Luminary" solution.
Research and consulting firm Celent analyzed 13
illustration systems for North
America life and annuities insurance, using the Celent ABC
Vendor View, a resource for identifying premier technology
solutions serving the insurance and financial services industries.
The vendor view shows the relative positions of each vendor in
three categories: Advanced Technology, Breadth of Functionality
(for which IllustrationPro was given the XCelent award) and
Customer Base and Support (for which IllustrationPro was also given
the XCelent award).
Due to IllustrationPro's position as a leader in the field in
Celent's third category, the product was also named a "Luminary"
solution in Celent's Technical Capabilities Matrix, for Advanced
Technology and Breadth of Functionality.
"Celent's recognition reaffirms our ongoing dedication to
delivering comprehensive, next-generation solutions to our valued
customers and the insurance industry," said Jamie Yoder, Sapiens North America President
& General Manager. "As an industry leader, Sapiens is proud to
accelerate our clients' digital transformation and advanced market
offerings to support their long-term growth."
According to the Celent report, "Sapiens' illustration system is
a top-tier system. The interface is clean and easy to use, even for
the novice user. Multiple illustrations can be generated
concurrently for the same client or for different clients,
including online comparisons."
The report added, "Output and reporting is flexible and
attractive, resulting in a ready-to-use proposal. Information from
the eApp is integrated. Quick illustrations are supported as are
full-needs analyses. Overall, a strong system for
consideration."
Sapiens IllustrationPro is a dynamic point-of-sale solution for
Life & Annuities that quickly and accurately generates quotes
and compliant illustrations through an intuitive and modern
engagement. This responsive solution seamlessly operates across
various devices and expedites the sales process improving the
overall customer and agent experience.
To download the report, click here.
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.
Media and Investor's Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer &
Head of Investor Relations, Sapiens
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, 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