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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 Americas, a subsidiary of Sapiens International Corporation (NASDAQ: SPNS), announced the deployment of its ReinsurancePro solution by Clear Blue Insurance Group, enhancing their management of ceded reinsurance contracts. This cloud-based platform aims to improve operational efficiency, manage complex transactions, and provide flexibility with automated processes. Clear Blue's COO highlighted the solution's potential to better serve partners, while Sapiens' CEO noted the advantages of using Microsoft Azure and streamlined operations. Over 100 insurers currently utilize Sapiens' reinsurance solutions.
Sapiens International Corporation (NASDAQ: SPNS) has appointed Jamie Yoder as President and General Manager of North America, effective April 26, 2021. Yoder brings over 30 years of leadership experience in the insurance and technology sectors, previously holding positions at PwC and Snapsheet. His role will involve overseeing Sapiens' strategic initiatives and operations in North America, a region contributing nearly half of the company's 2020 revenues. This appointment aims to enhance Sapiens' market presence and drive growth amid increasing digital transformation in the insurance industry.
Sapiens International Corporation (NASDAQ: SPNS) will announce its Q1 2021 financial results on May 4, 2021. A conference call will take place at 9:30 a.m. ET to discuss the results. Interested participants can join via various phone lines or access the live webcast on Sapiens' investor relations page. With over 35 years in the insurance industry, Sapiens delivers digital software solutions to more than 600 organizations worldwide, focusing on enhancing core, data, and digital requirements.
Sapiens International Corporation (NASDAQ: SPNS) announced a partnership with Atidot to provide AI-driven solutions for life and annuity insurers. This collaboration aims to enhance revenue generation through analytics and actionable insights in North America and Europe. The integration offers tools for policyholder service improvement and profitability enhancement and is designed to engage insurers in digital transformation. With a focus on predictive analytics, this initiative positions Sapiens and Atidot at the forefront of innovation in the life insurance sector.
Sapiens International Corporation (NASDAQ: SPNS) announced that Co-operative Insurance Companies has chosen their ReinsurancePro and FinancialPro solutions to enhance its financial and compliance management. This partnership aims to address Co-op's challenges related to the speed and accuracy of reinsurance administration, which had been overly reliant on manual processes. The cloud-based solutions will provide automation and efficiency, enabling better financial reporting and management of complex transactions. Sapiens supports over 100 insurers globally with similar solutions.
Sapiens International Corporation (NASDAQ: SPNS) announced a cash dividend of $0.37 per share, totaling $20.2 million. This payout aligns with the company's policy to distribute up to 40% of annual non-GAAP net income. The dividend will be paid on May 11, 2021, to shareholders of record as of April 27, 2021, and is subject to a 25% withholding tax. CEO Roni Al-Dor highlighted that this record distribution reflects strong financial performance and confidence in the company's strategic execution.
Sapiens International Corporation (NASDAQ: SPNS) has launched an enhanced version of its DigitalSuite, aimed at facilitating insurers' digital transformation. This platform integrates advanced APIs and offers a modular, cloud-native structure designed for seamless compatibility with existing systems. Key features include API Conductor, Journey and Forms Composer, and Dynamic Portals, enhancing customer experience through personalization and improved operational efficiency. Sapiens aims to meet evolving customer expectations in the insurance sector by providing flexible, user-friendly solutions.
Sapiens International Corporation N.V. (NASDAQ: SPNS) filed its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC. The report, which includes audited financial statements, is accessible via the SEC's website and the company's investor relations page. Shareholders can request a copy free of charge from Daphna Golden, Vice President of Investor Relations. With over 35 years of experience and serving more than 600 organizations worldwide, Sapiens provides software solutions for various insurance sectors.
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.
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