Sapiens Enhances Industry-Leading StatementPro with New Multi-Company Features

Rhea-AI Summary

Sapiens International (NASDAQ: SPNS) has announced the release of StatementPro Multi-Company Operations (MCO), enhancing its Financial & Compliance software solution. The new feature streamlines statutory reporting processes for insurance companies by enabling simultaneous actions across multiple statements and companies.

The MCO enhancement includes a Filing Period Setup Wizard that allows users to create and schedule all statements for the next filing period in one operation, potentially saving weeks of staff productivity annually. This development is particularly significant as more than half of National Association of Insurance Commissioners (NAIC) reporting entities belong to company groups.

The upgrade aims to address challenges in preparing statements across group companies, reducing manual repetitive actions like printing, importing, exporting, and attaching schedules for multiple entities. Sapiens plans to further enhance MCO with automated NAIC filings and standardized response capabilities across statements.

Positive

• New MCO feature enhances operational efficiency and reduces administrative burden
• Filing Period Setup Wizard potentially saves weeks of staff productivity annually
• Minimal training required for new users, reducing onboarding time and operational disruption

Negative

• None.

Insights

Financial Technology Analyst

Sapiens' new StatementPro Multi-Company Operations (MCO) represents a targeted enhancement to their core financial compliance offering that addresses a specific operational pain point in the insurance industry. The feature's ability to perform simultaneous actions across multiple statements marks a worthwhile efficiency improvement, particularly for insurance groups preparing NAIC filings under tight deadlines.

The enhancement aligns strategically with industry consolidation trends, as insurance companies continue acquiring and managing multiple entities with unified back-office operations. With over half of NAIC reporting entities belonging to multi-company groups, the addressable market for this capability is substantial within Sapiens' customer base.

From a competitive standpoint, this implementation reinforces Sapiens' existing market position in insurance compliance software rather than breaking new technological ground. The Filing Period Setup Wizard could deliver meaningful time savings for regulatory reporting teams - potentially reclaiming weeks of productivity annually according to their estimates - but represents an incremental rather than revolutionary advancement.

While this enhancement should support customer retention by reducing friction in a critical regulatory process, there's insufficient information to determine whether it will meaningfully accelerate new customer acquisition or revenue growth. The release strengthens Sapiens' value proposition but falls within expected product evolution rather than transformative innovation that would significantly alter their competitive trajectory.

Insurance Regulatory Specialist

The StatementPro MCO enhancement addresses a genuine operational challenge in insurance regulatory reporting. NAIC filing periods create significant time pressure for compliance teams, particularly within insurance groups that must prepare multiple entity statements with consistent information. The ability to eliminate redundant manual tasks across multiple filings directly targets this inefficiency.

From a compliance perspective, the consistency benefits are as important as the time savings. Manual replication of actions across multiple entity statements introduces error risk that can trigger regulatory scrutiny. The simultaneous operations capability should improve both efficiency and accuracy - dual benefits that compliance officers particularly value.

The implementation appears well-timed with the increasing regulatory reporting complexity facing insurance groups. As entities restructure through M&A activity, compliance teams frequently inherit disparate reporting processes that require harmonization. Tools facilitating standardized approaches across multiple entities support this operational consolidation.

While potentially valuable for existing customers, the enhancement represents a refinement of core functionality rather than a fundamental expansion of capabilities. Sapiens' mention of future planned enhancements, including automated NAIC filings and standardized responses across statements, suggests they're developing a more comprehensive multi-entity compliance roadmap that could deliver more substantial operational impacts in subsequent releases.

New release streamlines NAIC filings and boosts productivity

ROCHELLE PARK, N.J., April 8, 2025 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the release of StatementPro Multi-Company Operations (MCO). This powerful new feature set, available to all Sapiens Financial & Compliance (F&C) customers, enables insurers to streamline statutory reporting by performing the same actions across multiple statements and companies, significantly reducing administrative burden and increasing productivity.

Already recognized as the most feature-rich statutory reporting solution in the market, StatementPro now delivers an even more intuitive and seamless workflow with MCO. This enhanced functionality allows insurers to prepare multiple statements with less effort while ensuring accuracy and compliance. New users benefit from an intuitive experience requiring little to no training, further reducing onboarding time and operational disruption.

More than half of all National Association of Insurance Commissioners (NAIC) reporting entities belong to a group of companies, placing increasing pressure on insurers to efficiently file for multiple entities within tight regulatory deadlines. Traditionally, preparing statements across group companies required repetitive manual actions, such as printing, importing, exporting, and attaching the same schedules for multiple entities. StatementPro MCO addresses these challenges by optimizing efficiency, minimizing redundancy, and ensuring consistency across all filings.

Among MCO's key capabilities is the new Filing Period Setup Wizard, which allows users to create and schedule all statements for the next filing period in a single operation. This feature results in significant time savings, cutting hours from each filing period and potentially reclaiming weeks of staff productivity over the course of a year.

"As organizations continue to merge, acquire, and expand their insurance entities, the ability to optimize reporting across multiple entities is critical," said Roni Al-Dor, Sapiens President and CEO. "With only a few months to complete annual statements, StatementPro MCO is essential for insurers looking to meet internal and regulatory deadlines efficiently. As reporting complexity grows, Sapiens' technology ensures that every second counts, enabling our customers to streamline their processes and maintain compliance without compromising accuracy."

Sapiens is committed to continuously evolving StatementPro's Multi-Company Operations with additional capabilities, including automated NAIC filings for all reporting entities and the ability to input standardized responses across statements. These upcoming enhancements will further reinforce StatementPro's position as the industry's most comprehensive statutory reporting solution.

About Sapiens 

Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global leader in intelligent insurance SaaS-based software solutions. With Sapiens' robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. Our SaaS-based Solutions help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers' compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success. For more information visit https://sapiens.com or follow us on LinkedIn.    

Investor and Media Contact
Yaffa Cohen-Ifrah 
Sapiens Chief Marketing Officer and Head of Investor Relations 
Email: Yaffa.cohen-ifrah@sapiens.com 

Forward Looking Statements

Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words "anticipate," "believe," "estimate," "expect," "may," "will," "plan" and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:  the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers' systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic,  and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.

While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.

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SOURCE Sapiens International Corporation

FAQ

What new features does Sapiens (SPNS) StatementPro MCO introduce for insurance companies?

StatementPro MCO enables insurers to perform simultaneous actions across multiple statements and companies, featuring a Filing Period Setup Wizard for creating and scheduling statements in a single operation.

How does the StatementPro MCO Filing Period Setup Wizard improve efficiency?

The wizard saves hours per filing period and potentially weeks annually by allowing users to create and schedule all statements for the next filing period in one operation.

What upcoming enhancements are planned for Sapiens (SPNS) StatementPro MCO?

Future enhancements include automated NAIC filings for all reporting entities and standardized response input capabilities across statements.

How does StatementPro MCO address NAIC reporting challenges for insurance groups?

MCO streamlines the reporting process for insurance groups by minimizing redundancy and ensuring consistency across filings, particularly beneficial as over 50% of NAIC reporting entities belong to company groups.