The partnership will enable insurers to
leverage health and wellness monitoring technology for streamlined
underwriting and enhanced user experience
HOLON, Israel, Feb. 5, 2024 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
and Binah.ai, the number one health and wellness check software
provider, today announced a partnership to empower more insurance
companies worldwide to use client-provided health data for improved
risk management and value-added services at reduced costs. The
partnership enables Binah.ai to leverage Sapiens' strong global
presence and provide Sapiens' customers with seamless access to
Binah.ai's software-based health and wellness check technology.
Access to health data shared by end-users through Sapiens'
platform, enhanced with Binah.ai's technology, provides a myriad of
benefits for both clients and insurance companies:
- Improved risk assessment and prevention measures
- Improved market understanding and competitiveness
- Streamlined underwriting and more efficient straight-through
processing
- Increased engagement in wellness programs
- Enhanced user experience at reduced costs
Binah.ai's Health Data Platform is disrupting healthcare and
wellness monitoring by leveraging AI technologies to transform
smartphones and tablets into powerful tools for both on-the-spot
checks and continuous health and wellness checkups. Users have the
flexibility to conduct either a quick spot check by simply looking
at the device's camera or opt for continuous monitoring by wearing
the Polar Verity Sense™ optical heart rate sensor. This enables
them to measure and share a comprehensive array of vital signs,
including blood pressure, heart rate, heart rate variability,
oxygen saturation, respiration rate, pulse-respiration quotient
(PRQ), and mental stress-related biomarkers like sympathetic stress
and parasympathetic activity. Additionally, users can
simultaneously obtain an overall wellness score.
"We are extremely excited to partner with Sapiens, a leading
player in the global insurtech sector. Sapiens' strong presence
will help boost our expansion in the insurance industry and provide
their customers with seamless access to our solution. I look
forward to a great partnership, for the benefit of the entire
industry and its clients," said David
Maman, Co-Founder and CEO of Binah.ai.
With more than 40 years of industry expertise, as well as 600
customers in more than 30 countries, Sapiens empowers insurers to
transform and become digital, innovative, and agile. Sapiens'
cloud-based SaaS insurance platform offers pre-integrated,
low-code capabilities across core, data, and digital
domains to accelerate our customers' digital transformation.
"Binah.ai's groundbreaking health monitoring technology is a
game-changer in our insurance solutions, revolutionizing how
insurers harness objective health data for robust wellness
programs," emphasized Amanda Ingram,
Sapiens Proposition & Ecosystem Manager. "Through seamless
integration, we drive straight-through processing and elevate
premium rating by leveraging remote, real-time health monitoring.
This transformative partnership not only optimizes the underwriting
processes but also empowers the insurer to assess risk more
accurately and bolster preventive measures."
Sapiens and Binah.ai will hold a live webinar on
February 22, 2024, where they will
present their new joint solution and its use cases for the
insurance industry. To learn more about how this partnership is
empowering insurers with innovative solutions, please 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.
About Binah.ai
Binah.ai is a pioneering software solution for health and
wellness checks, revolutionizing personal wellbeing monitoring. Our
software-based technology allows individuals to effortlessly
monitor and share real-time vital signs and biomarkers, using
everyday camera-based electronic devices like smartphones or
laptops anytime, anywhere. As a B2B company, we empower
organizations globally from sectors including insurance,
healthcare, and wellness with unbiased health and wellness data
sourced directly from their users. Binah.ai simplifies access to
user-provided health data, offering a fast, affordable, and
user-friendly experience. This allows organizations to deliver
top-quality, personalized care and services, all while optimizing
costs.
Media Contacts
Sapiens Investor and Media Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Investor Relations
Sapiens International
Email: Yaffa.cohen-ifrah@sapiens.com
Binah.ai Media Contact: pr@binah.ai
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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