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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 an extension of its partnership with Atos on March 24, 2021. This enhanced agreement will integrate Sapiens' life insurance software solutions into Atos' Business Process Outsourcing (BPO) services, improving operational efficiency and customer service. The partnership aims to provide a comprehensive Life & Pension platform that combines Sapiens' capabilities with Atos' digital services. Both companies emphasized their commitment to a collaborative approach in delivering innovative solutions to the life and pensions market.
Sapiens International Corporation (NASDAQ: SPNS) has partnered with ECHO Health, Inc. to develop a comprehensive digital payment solution for insurance carriers. This partnership aims to streamline payment processes via a secure portal, addressing common challenges faced by businesses. ECHO, processing over $1 billion weekly, connects clients to a vast network of electronic-ready vendors. The integration of ECHO's solution within Sapiens' CoreSuite offerings promises enhanced efficiency and profitability for clients, minimizing manual payment hurdles and maximizing security.
Sapiens International Corporation (NASDAQ: SPNS) has announced the general availability of the enhanced CoreSuite for Life & Annuities for North American customers and Life & Pensions for EMEA and APAC regions. The new CoreSuite Version 10 features low code/no code configuration, improved cloud capabilities, and a robust digital suite to enhance user experience. Key offerings include multicurrency and multilingual support, embedded analytics, and a 360-degree customer view for better policy management.
Sapiens International Corporation (NASDAQ: SPNS) announced a partnership with Rising Medical Solutions to enhance data-driven decision-making for medical care in workers' compensation and property & casualty insurance. This joint offering integrates Sapiens' CoreSuite platforms with Rising’s managed care services, providing insurers with real-time data and improved user experience. The collaboration aims to streamline processes from claims to medical management, ultimately enabling insurers to make more informed and equitable payment decisions.
Sapiens International Corporation (NASDAQ: SPNS) announced its participation in William Blair's 5th Annual Investor Conference, scheduled for March 11, 2021. CEO Roni Al-Dor and CFO Roni Giladi will present at 12:00 pm ET and are available for one-on-one meetings. Daphna Golden, VP of Investor Relations, will also be present for discussions. Sapiens provides software solutions for the insurance industry and has over 35 years of experience, serving more than 600 organizations worldwide. For meeting arrangements, please reach out to William Blair.
Sapiens International Corporation (NASDAQ: SPNS) reported strong financial results for Q4 and the full year 2020, highlighting a 17.2% increase in revenue to $101.7 million for Q4 compared to Q4 2019. Gross profit rose 18.4%, reaching $41.4 million, while diluted EPS increased by 15.4% to $0.15. For the full year, revenue was $382.9 million, a 17.6% growth from 2019. Sapiens anticipates 2021 Non-GAAP revenue between $457 million and $463 million, indicating ongoing positive momentum as they leverage recent acquisitions.
Sapiens International Corporation (NASDAQ: SPNS) announced that a Tier 1 South African bank has expanded its offerings by integrating five components of the Sapiens IDITSuite for Property & Casualty. This enhancement supports the bank's personal and commercial lines of business, responding to growing customer demand for digitized experiences. The project went live remotely due to COVID-19, encompassing retail and commercial solutions, including Building Insurance and Business Cash Cover. Sapiens aims to continue collaborating with the bank to further develop its online banking platform.
Sapiens International Corporation (NASDAQ: SPNS) has partnered with VPay to enhance digital payment services for workers' compensation insurers. This collaboration aims to streamline operational costs while improving customer interactions in claims payment processing. VPay's solutions have already digitized 40-55% of service provider payments, saving insurers up to $1 million on print and mail fees. The shift towards digital payments has accelerated, especially due to customer demand amid the COVID-19 pandemic.
Sapiens International Corporation (NASDAQ: SPNS) will report its financial results for Q4 and the full year ended December 31, 2020, on February 25, 2021. A conference call and webcast will be held on the same day at 9:30 a.m. ET to discuss the results. The financial performance will encompass various sectors including property & casualty and life insurance, as Sapiens aims to address evolving industry needs. Investors can access the live call or a replay via the company's investor relations page.
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