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Sapiens International (SPNS) delivers cutting-edge insurance software solutions powering digital transformation across global financial services. This centralized news resource provides investors and professionals with verified updates on company developments and industry leadership.
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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.
Sapiens International Corporation (NASDAQ: SPNS) announced a partnership with Charlee™, a cloud-based SaaS provider, to enhance predictive insights for Property and Casualty (P&C) insurers. This collaboration will integrate Charlee™'s AI capabilities with Sapiens CoreSuite, aiming to improve claims and underwriting processes through advanced natural language processing. The partnership is intended to bolster Sapiens' offerings in the digital transformation space, providing clients with actionable insights and facilitating litigation avoidance while expanding their technological ecosystem.
Sapiens International Corporation (NASDAQ: SPNS) announced that COPIC Insurance has selected its Sapiens DigitalSuite to enhance underwriting processes. This implementation aims to modernize COPIC's manual processes, streamline policy creation, and improve customer experience. The partnership will utilize Sapiens AgentConnect for real-time management, enabling agents to efficiently sell policies. The goal is to achieve a frictionless customer journey while ensuring underwriting integrity. Sapiens provides solutions tailored for the insurance sector, supporting over 600 customers globally.
Sapiens International Corporation (NASDAQ: SPNS) announced that Hiscox EU has successfully implemented Sapiens IDITSuite and Sapiens Intelligence in Germany. This deployment aims to enhance operational efficiency and productivity by up to 25% by 2025. Hiscox's multi-year IT strategy focuses on building a connected insurance ecosystem across Europe, starting with Germany and expanding to five additional countries. This transformation is expected to ensure sustainability and profitability amid increasing regulatory pressures.
