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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 partnered with Guardian Group to enhance its accelerated underwriting processes in Trinidad, Jamaica, and Curacao. Guardian Group, a $1 billion insurer in the Caribbean, will implement Sapiens UnderwritingPro and predictive analytics solutions to automate up to 95% of its fluid-less cases. This integration aims to streamline manual underwriting tasks, identify process bottlenecks, and improve overall efficiency. The collaboration emphasizes innovation in underwriting practices, aiming for a transformative impact on consumer and agent experiences.
Sapiens International Corporation (NASDAQ: SPNS) announces that Berkshire Hathaway GUARD Insurance Companies has successfully implemented Sapiens Decision, enhancing their business logic management tools for insurance policies. This initiative has improved real-time service, reduced submission-to-quote time, and increased agent satisfaction. Sapiens Decision enables GUARD to automate critical decision-making and streamline the quoting process, leading to significant IT savings and business agility. The partnership aims to extend the solution across more business areas, driving digital transformation.
Sapiens International Corporation (NASDAQ: SPNS) announced it will report its third-quarter financial results for the period ending September 30, 2021, on November 3, 2021. The company will host a conference call at 9:30 a.m. ET on the same day to discuss the results. Sapiens specializes in software solutions for the insurance sector, serving over 600 clients across 30 countries. The company offers a comprehensive insurance platform with a focus on digital transformation.
Sapiens International Corporation (NASDAQ: SPNS) will report its third quarter financial results for the period ending September 30, 2021, on November 3, 2021. A conference call and webcast will be held at 9:30 a.m. Eastern Time that day to discuss the results. Investors can join the call via provided contact numbers or access the live webcast on Sapiens' investor relations page. The company continues to focus on driving digital transformation in the insurance industry, leveraging its cloud-first and low-code solutions for enhanced operational agility.
Sapiens International Corporation (NASDAQ: SPNS) announced that KW Specialty has selected Sapiens ReinsurancePro for cloud-based reinsurance management. The solution replaces KWS's legacy processes, ensuring streamlined operations and precise financial control. With a focus on expanding reinsurance programs, KWS benefits from enhanced automation and system integration with other Sapiens solutions. KWS's choice for a cloud platform highlights its accessibility and support from Sapiens. This collaboration is expected to strengthen KWS's competitive edge in the surplus lines insurance market.
Sapiens International Corporation (NASDAQ: SPNS) has been selected by Physicians Insurance A Mutual Company to implement its ReinsurancePro solution for automating reinsurance management. This decision aims to replace outdated processes, ensuring streamlined and accurate processes. The cloud-based platform offers 24/7 accessibility and a range of managed services, enhancing operational efficiency. Physicians Insurance, the largest medical professional liability insurer in the Pacific Northwest, anticipates significant benefits from the new system, which serves over 8,500 clients in five states.
Sapiens International Corporation (NASDAQ: SPNS) has expanded its partnership with Gjensidige Pensjonsforsikring (GPF), a key player in Norway's insurance market, to implement the Sapiens API Composition Engine (ACE). This integration will streamline GPF's digital transformation by enabling efficient orchestration of services through an agnostic API layer. Torstein Ingebretsen, CEO of GPF, highlighted Sapiens' modern solutions as crucial for improving customer experience. Roni Al-Dor, Sapiens' president and CEO, emphasized the competitive advantages this partnership will bring.
Sapiens International Corporation (NASDAQ: SPNS) announced a new agreement with Tokio Marine Highland to implement Sapiens ClaimsPro as part of their CoreSuite for Property and Casualty. This partnership aims to enhance claims processing capabilities and supports Tokio Marine Highland's modernization efforts following their successful integration of Sapiens PolicyPro and BillingPro. ClaimsPro offers extensive management features and seamless integration with existing platforms, facilitating faster growth and improved customer service.
Sapiens International Corporation (NASDAQ: SPNS) announced the integration of its ReinsuranceMaster solution for Old Mutual Insure, the oldest insurer in South Africa. This integration aims to streamline Old Mutual's reinsurance processes, enhancing management of complex reinsurance contracts.
ReinsuranceMaster will automate contract management, reducing manual tasks and potentially increasing recoveries. Old Mutual Insure, serving customers in several African countries, selected Sapiens for its proven expertise in the reinsurance sector.
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