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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) announced its participation in two virtual investor conferences. The first will take place at William Blair's 4th Annual Insurance Technology Virtual Conference on August 11, 2021. The second is Needham's 3rd Annual Virtual FinTech & Digital Transformation 1x1 Conference on August 18 and 19, 2021. Sapiens empowers insurers with digital software solutions across various sectors, backed by over 35 years of global experience.
Sapiens International Corporation (NASDAQ: SPNS) announced strong financial results for Q2 ended June 30, 2021, with revenue of $114.4 million, a 22.9% increase from the previous year. Non-GAAP revenue reached a record $115 million, up 24%. Gross profit rose to $46.6 million, while net income grew by 11.9% to $10.4 million. The company has increased its 2021 revenue guidance to $461-$466 million and operating margin guidance to 17.2%-17.5%. This growth reflects solid performance across various markets, particularly in North America and Europe.
Sapiens International Corporation (SPNS) announced a significant partnership with a leading non-life insurer in Thailand for a major digital core transformation. This project aims to replace the insurer's outdated 30-year-old system using Sapiens' comprehensive software solutions, including IDITSuite, ReinsuranceMaster, and DigitalSuite's API layer. The initiative is expected to enhance operational efficiency, reduce costs, and improve product development speed, ultimately increasing revenues through new digital channels.
Sapiens International Corporation (NASDAQ: SPNS) is set to announce its financial results for the second quarter of 2021 on August 4, 2021, following the period ending on June 30, 2021. The company, which provides software solutions for the insurance industry, will also hold a conference call and webcast at 9:30 a.m. Eastern Time on the same day to discuss the results. Investors and analysts can participate through designated phone numbers or access the webcast on Sapiens' website. The company continues to leverage its experience and global presence in the insurance sector to enhance its service offerings.
Sapiens International Corporation (NASDAQ: SPNS) announced a partnership with Munich Re to enhance technology-led consultancy services for primary insurers in the UK, focusing on the commercial insurance market for SMEs. This partnership aims to address underserved segments by providing scalable technology solutions to empower insurers. With over 200,000 new businesses established in the UK this year, the collaboration is positioned to support the post-COVID economic recovery. Sapiens and Munich Re plan to offer consultative strategies and innovative digital solutions to enhance market offerings.
Sapiens International Corporation (NASDAQ: SPNS) has launched an upgraded version of Sapiens Decision, a cloud-based, no-code decision management platform. This release enhances operational efficiency by allowing business users to manage decision logic quickly and accurately, facilitating digital transformation within organizations. Key features include faster deployment, improved user experience, increased productivity, and the ability to manage complex business rules effectively. The solution aims to support automation initiatives in sectors such as Banking and Insurance, enhancing customer engagement and policy change speed.
Sapiens International Corporation (NASDAQ: SPNS) has launched two new cloud-native components, Sapiens Journey and Form Composer, part of its DigitalSuite aimed at enhancing digital transformation for insurers. These tools enable users to manage workflows and digitize forms without coding, promoting efficiency and reducing dependency on IT resources. Sapiens aims to empower insurers to improve customer experiences and accelerate time-to-market while integrating seamlessly with existing systems.
Sapiens International Corporation (NASDAQ: SPNS) has been recognized as a Dominant Provider of illustration solutions in the 2021 Market Navigator report by Novarica. The report highlights Sapiens' strong market position and momentum, particularly with its solution, Sapiens IllustrationPro, which serves 41 insurers in the US/Canada. The cloud-based solution offers a modern user experience with features like straight-through processing and complex product illustrations, aimed at enhancing operational efficiency for life insurance providers.
Sapiens International Corporation (NASDAQ: SPNS) announced that Illinois Mutual Life Insurance has successfully implemented its IllustrationPro and ApplicationPro life solutions. This marks a significant step in Illinois Mutual's digital transformation, enhancing application functionality and customer experience. Rich Tarkowski, IML's VP of IT, emphasized the importance of these solutions for market competitiveness, while Sapiens aims to further strengthen their partnership through continuous modernization efforts.
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