Petplan Chooses Sapiens' Cloud-Based CoreSuite as Part of its Insurtech Digital Transformation

Rhea-AI Summary

Sapiens Americas, a subsidiary of Sapiens International Corporation (NASDAQ: SPNS), announced that Petplan, a leading pet insurance provider in North America, has chosen Sapiens CoreSuite for Property & Casualty. This cloud-based platform aims to enhance the digital experience for Petplan's customers and expand its product offerings. Petplan's COO highlighted the need for a cloud-native infrastructure to support their growth goals. Sapiens' President expressed excitement over this partnership, emphasizing the platform's innovative capabilities.

Positive

• Petplan selected Sapiens CoreSuite for Property & Casualty, indicating a strong partnership.
• The cloud-based platform will enhance customer experience and product offerings for Petplan.

Negative

• None.

RALEIGH, North Carolina, July 7, 2020 /PRNewswire/ -- Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Petplan, the pet insurance provider with the most comprehensive coverage in North America, has selected Sapiens CoreSuite for Property & Casualty to provide a cloud-based, full digital experience for their customers and expand product offerings.

"In order to support our ambitious growth goals, we required a cloud-native infrastructure with user-oriented configurability, a strong digital platform and open architecture," said Danna Rabin, chief operating officer, Petplan North America. "After an extensive search, Sapiens proved to be the perfect fit. Their fully digital insurance platform will enable us to reimagine the customer experience, quickly launch new products and services, and deliver increased organizational efficiency."

Added Rabin: "Sapiens' team understands insurance and technology and they 'speak digital' in a way that allowed our teams to quickly define their business needs and requirements."

"We are excited to welcome Petplan to the Sapiens team," said Roni Al-Dor, president and CEO, Sapiens. "With the performance and configurability of our digital insurance platform, we can provide the innovative capabilities Petplan requires to continue growing in a unique insurance space."

Sapiens CoreSuite for Property & Casualty over the cloud will facilitate a digital experience and self-service for customers and agents, while speeding the introduction of non-traditional insurance products to the market.  

About Petplan

Petplan is a leading pet health insurance provider, offering the most comprehensive pet insurance coverage in North America. Founded in 2003, Petplan was acquired by Warburg Pincus, a global private equity firm focused on growth investing, in October of 2019. The acquisition provides access to significant capital and resources to drive meaningful growth. Under new leadership, Petplan is achieving milestone subscriber counts, now serving a quarter million customers. The company is leading with innovation across product, technology and customer experience, while simultaneously creating strategic partnerships, new sales platforms and creative materials to support projected growth. For more information about Petplan pet health insurance, visit GoPetplan.com.

About Sapiens

Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property & casualty, life, pension & annuity, reinsurance, financial & compliance, workers' compensation and financial markets. With more than 35 years of experience delivering to over 500 organizations globally, Sapiens has a proven ability to satisfy customers' core, data and digital requirements. For more information: www.sapiens.com.

Media Contact
Alex Zukerman
CMO and Chief of Strategy, Sapiens
+972 546 724 910
alex.zukerman@sapiens.com

 

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SOURCE Sapiens International Corporation

FAQ

What is the significance of Petplan choosing Sapiens CoreSuite?

Petplan's decision to use Sapiens CoreSuite reflects their commitment to improving customer experience and expanding product offerings through digital transformation.

How will Sapiens CoreSuite impact Petplan's operations?

The Sapiens CoreSuite is expected to provide a cloud-based infrastructure that enhances organizational efficiency and supports rapid product launches for Petplan.

When was the announcement made regarding Petplan and Sapiens partnership?

The announcement was made on July 7, 2020.

What is the stock symbol for Sapiens International Corporation?

The stock symbol for Sapiens International Corporation is SPNS.