Sapiens provides leading car manufacturer with
complete policy portfolio management, accelerating their mission to
launch a new IT landscape of services
HOLON, Israel, Dec. 12,
2023 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider
of software solutions for the insurance industry, today announced
that a leading European automotive brand has gone live with Sapiens
IDITSuite and Sapiens Cloud and Application Management
Services for the company's self-guarantee and warranty insurance
lines of business.
Sapiens' solution replaces the company's existing systems for
policy portfolio management and claims management. Phase one of
implementation for automotive warranty took just over a year, with
the second phase of product warranty implementation planned for
2024.
"Our client stands out for providing its warranty customers
high-performance motor insurance that delivers peace of mind.
Sapiens' award-winning solution delivered on the cloud helps
provide them with a modern, digital core that streamlines processes
and customer experiences and enables them to achieve excellence,"
said Roni Al-Dor, Sapiens President
and CEO. "Sapiens' digitally-led, end-to-end policy administration
system helped our client achieve their ambitious goal of
implementation in just over a year."
Sapiens IDITSuite is an AI-powered, end-to-end insurance
software product that supports customer acquisition, billing,
finance, claims, and renewals. The solution features a low-code
product and pricing configuration engine that accelerates speed to
market by 75%. IDITSuite enables its clients to meet regulatory
requirements and make data-driven decisions for their international
warranty programme.
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
Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Investor Relations
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, 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