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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), has successfully implemented its PolicyPro solution at Harford Mutual Insurance Group in Maryland. This transition from a 25-year-old policy system enhances Harford Mutual's ability to quickly launch new insurance products and respond to consumer demands for digital experiences. The new platform facilitates policy management and integrates smoothly with third-party solutions, contributing to Harford Mutual's operational efficiency and competitiveness in the evolving insurance sector.
Sapiens International Corporation (NASDAQ: SPNS) will report its third-quarter financial results for the period ending September 30, 2020, on November 5, 2020. The management will host a conference call and webcast at 9:30 a.m. Eastern Time to review the results. Investors can participate by calling specific numbers or joining via the company's website. A replay will be available until November 14, 2020. Sapiens specializes in software solutions for the insurance industry, catering to various sectors with over 500 clients globally.
Sapiens International Corporation N.V. (Nasdaq: SPNS) has priced an underwritten public offering of 3,389,830 common shares at $29.50 each, closing expected on October 20, 2020. The underwriters also have a 30-day option to purchase an additional 508,474 shares. Proceeds from the offering will be used for general corporate purposes, including potential acquisitions or investments. The offering is registered under an effective shelf registration statement filed with the SEC on July 11, 2019.
Sapiens International Corporation N.V. (Nasdaq: SPNS) has announced a public offering of 3,389,830 common shares priced at $29.50 per share, with a 30-day underwriter option for an additional 508,474 shares. The offering is expected to close on October 20, 2020. Proceeds will be used for general corporate purposes, including potential acquisitions, though no specific agreements are in place. The offering is conducted under an effective shelf registration statement filed with the SEC.
Sapiens International Corporation N.V. (Nasdaq: SPNS) announced a proposed public offering of $100 million of its common shares, with a potential $15 million additional option for underwriters. The offering is aimed at general corporate purposes, including acquisitions or investments, but no specific agreements are in place. The offering depends on market conditions and is conducted under an effective shelf registration statement. Key underwriters include Goldman Sachs, J.P. Morgan, Citigroup, and Jefferies.
Sapiens International Corporation (NASDAQ: SPNS) has announced a partnership with GreenRoad Technologies to enhance risk assessment in automotive insurance. This collaboration allows insurers to access dynamic driving data, enabling personalized premiums and customer-centric services. GreenRoad's solution offers detailed analysis of driver behavior, which could help reduce preventable accidents by up to 50% and related costs by 80%. This strategic move comes as competition in the insurance sector intensifies, with companies like Tesla and Amazon entering the market.
Sapiens International Corporation (NASDAQ: SPNS) announced the release of an upgraded version of its Sapiens IDITSuite for Property & Casualty insurance providers. Key enhancements include improved claim collaboration tools, shopping cart functionality for quicker approvals, and robust claims automation features. The update also focuses on ecosystem integration, agility with cloud-based capabilities, and enhanced security measures. Sapiens aims to improve customer experience and streamline operations in the insurance market with this release.
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