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Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS) is a premier provider of software solutions tailored for the insurance industry and the broader financial services sector. With a heritage spanning over 40 years, Sapiens serves more than 600 customers in over 30 countries, providing a comprehensive suite of cloud-based, low-code SaaS platforms to accelerate digital transformation across core, data, and digital domains.
Sapiens’ offerings cover a broad spectrum of markets including property & casualty (P&C), life, pension & annuities (L&A), workers' compensation (WC), medical professional liability (MPL), and reinsurance. Their end-to-end solutions are designed to enhance operational efficiency, streamline service delivery, and improve customer experience. Key products include Sapiens CoreSuite, Sapiens DigitalSuite, and Sapiens Intelligence, all of which provide insurers with comprehensive tools for policy administration, claims management, and data analytics.
Recently, Sapiens has expanded its presence in the Canadian market, reinforcing its commitment to delivering advanced insurance solutions and superior customer service. This strategic expansion includes onboarding industry experts to bolster their Ontario offices and provide enhanced local support. Notable Canadian clients include the Saskatchewan Workers' Compensation Board (WCB), Beneva, and ivari.
In 2024, Sapiens launched IntegrateAI, a new capability within Sapiens Decision, allowing business users to integrate machine learning models into decision diagrams. This follows the release of ModelAI, integrating Generative AI copilot features from Microsoft Azure’s OpenAI Service. These innovations aim to simplify decision automation and improve operational control.
Financially, Sapiens reported a strong Q1 2024 with a 7.6% year-over-year revenue growth, reaching $134 million. Their annualized recurring revenue (ARR) saw a 12.7% increase to $168 million, highlighting their successful transition towards SaaS models. Sapiens continues to enhance its product offerings and market reach through strategic partnerships, such as the recent collaboration with Blender Technologies to integrate advanced credit and financing solutions.
The company is headquartered in the Cayman Islands, with operational hubs in North America, UK, EMEA, and Asia-Pacific. For more detailed information, visit www.sapiens.com.
Sapiens International Corporation (NASDAQ: SPNS) has strengthened its partnership with Hollard Insurance to enhance Hollard's digital strategy using Sapiens' cloud-native, low-code DigitalSuite. This modernization aims to digitize products and improve customer journeys while maintaining legacy systems. The project utilizes Microsoft Azure and includes Sapiens Journey & Form Composer and API Conductor. Hollard's pilot for an Accident & Health Product marks a significant growth opportunity. Sapiens emphasizes the potential for cost savings and improved broker engagement as key benefits of this collaboration.
Sapiens International Corporation (NASDAQ: SPNS) announced its partnership with Guardian Group, a $1 billion carrier in the Caribbean, to implement its customer acquisition solutions for life and health operations. The deployment includes Sapiens IllustrationPro and ApplicationPro, enhancing the agent experience and streamlining underwriting processes. This integration aims to improve agent engagement, reduce policy acquisition costs, and accelerate time-to-market for products. Guardian's COO highlighted the partnership's strategic importance for enhancing customer engagement and increasing sales.
Sapiens International Corporation (NASDAQ:SPNS) announced that Applied Underwriters, Inc.® selected its Sapiens ReinsurancePro solution to automate and enhance their reinsurance administration processes. This transition from a legacy system to a streamlined platform aims to improve accuracy and efficiency in underwriting and reporting. Sapiens ReinsurancePro supports various types of reinsurance activities, allowing for comprehensive financial control and compliance management. The partnership reflects Applied Underwriters' commitment to growth and innovation in risk management services.
Sapiens International Corporation N.V. (NASDAQ: SPNS) has submitted its annual report on Form 20-F for the fiscal year ending December 31, 2021, to the U.S. SEC. This report includes audited financial statements and is accessible via the SEC website and the company’s investor relations page. Shareholders can request a hard copy of the report for free. Sapiens specializes in software solutions for the insurance sector, offering a comprehensive digital platform with over 600 customers worldwide.
Sapiens International Corporation (NASDAQ: SPNS) announced that a leading insurer in Portugal has chosen to implement Sapiens ReinsuranceMaster. This software aims to enhance the management of the insurer's complex global reinsurance program, improving efficiency and operational capabilities in both life and non-life insurance sectors. The solution supports multi-company organizations, optimizing operations for multinational insurers. With over 100 insurers using Sapiens' solutions, the company continues to leverage its global experience to provide comprehensive support for diverse reinsurance contracts.
Sapiens International Corporation (NASDAQ: SPNS) has entered a partnership with Albany Group to develop an automated compliance and risk management platform tailored for the insurance sector. This collaboration aims to streamline complex compliance processes across third-party platforms, significantly reducing costs and risks for users. The integrated solution promises enhanced productivity, improved automation, and real-time accuracy, transforming the user experience for regulatory solutions in the Lloyd's market.
On March 7, 2022, Sapiens International Corporation announced a partnership with Builders Insurance Holdings S.A. to modernize its legacy systems through Sapiens' core software solutions, including IDITSuite and Sapiens Intelligence. This upgrade aims to enhance Builders' digital operations and support its expansion across multiple countries, including Germany and the UK. Sapiens' solutions will enable Builders to integrate data, improving operational efficiency across its insurance services.
Sapiens International Corporation (SPNS) reported strong financial results for Q4 2021, with a 16.4% increase in non-GAAP revenue to $119.9 million and a net income rise of 64.3% to $13.7 million. For the full year, revenue reached $461.0 million, up 20.4% year-over-year, while net income surged 39.7% to $47.2 million. The company highlighted significant growth in Europe, with a 38.5% increase, and introduced 2022 guidance expecting non-GAAP revenue between $495 million and $500 million. A focus on cloud solutions and product innovation was emphasized.
Sapiens International Corporation (NASDAQ: SPNS) will report its financial results for Q4 and the full year ending December 31, 2021, on February 23, 2022. A conference call will follow at 9:30 a.m. ET to discuss the results, with dial-in numbers available for North America, international participants, and the UK. Sapiens specializes in software solutions for the insurance industry, serving over 600 clients in 30 countries. The company emphasizes a low-code, cloud-first approach to accelerate digital transformation in the financial sector.
Sapiens International Corporation (NASDAQ: SPNS) announced a partnership with WCL, a Zywave company, to enhance messaging capabilities for Lloyd's of London Bureau Services. This integration aims to streamline policy data management for insurance clients, facilitating access to Lloyd's capital and improving real-time risk management. The collaboration leverages Sapiens' digital insurance platform combined with WCL's messaging solutions, reducing data duplication and improving process efficiency for over 600 global insurer clients.
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