HOLON, Israel, August 26, 2021 / PRNewswire / – Sapiens International Company (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that one of the South Africa of the top five financial institutions with nearly 10 million customers, has chosen Sapiens as a transformation partner. The financial institution will implement the cloud hosting of Sapiens, IDITSuite for short-term insurance and Intelligence Sapiens, with the help of Sapiens Managed Services.
After successfully launching its fully digital insurance product allowing individuals to purchase coverage for motor vehicles, household inventory, comprehensive coverage and building coverage, the financial institution decided to rethink its existing base system. To keep the company up to date in terms of capabilities, a refresh was needed. However, the financial institution had concerns regarding the data migration and implementation. In particular, they wanted to ensure a quick time to market and agreed to work with Sapiens to review and reorganize some of their internal processes.
Sapiens’ vast experience in the sector, as well as its comprehensive range of insurance products for the bancassurance sector, will allow the client to align with the latest market trends. Sapiens will migrate the client’s systems and data to the cloud, and its extensive implementation experience will ensure complex integration into the client’s broad banking ecosystem. Highly configurable systems will ensure their autonomy and ability to effect change and generate significant and continuous value.
âSapiens is delighted to foster good partnerships and demonstrate its firm commitment to accelerate the growth of the bancassurance sector. We are honored to be a partner in our clients’ journeys as they strengthen their leadership position in today’s dynamic bancassurance market, âsaid Roni Al Dor, President and CEO of Sapiens. âOur advanced solutions and our in-depth understanding of the changes that are reshaping bancassurance have earned Sapiens a prominent place as a leading supplier in this industry. “
Sapiens IDITSuite is a basic, component-based software solution comprising policy, billing and claims solutions. IDITSuite supports the basic end-to-end operations and processes for short-term / non-life (general) insurance, from inception to renewal and claims. Its pre-integrated and fully digital suite offers customer and agent portals, business intelligence, as well as a suite of tools to test new business sectors, products and services. IDITSuite is fully cloud compatible.
Sapiens International Corporation enables insurers to succeed in a changing industry. Sapiens offers digital software platforms, solutions and services for property and casualty insurance, life insurance, retirement and annuities, reinsurance, finance and compliance, workers’ compensation and financial markets . With more than 35 years of experience providing services to more than 600 organizations worldwide, Sapiens has a proven ability to meet key customer systems, data and digital requirements. For more information: www.sapiens.com
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Although we believe that these forward-looking statements are based on reasonable assumptions, if one or more of the underlying assumptions prove to be incorrect, or if such risks or uncertainties materialize, our actual results may differ materially from those expressed or under- understood by forward-looking statements. Please read the risks discussed under âRisk Factorsâ in our most recent Annual Report on Form 20-F, in order to review the conditions which we believe could cause actual results to differ materially from those anticipated in forward-looking statements. You should not rely on 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 the events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we do not undertake to publicly update forward-looking statements for any reason, to conform such statements to actual results or to changes in our expectations.
SOURCE Sapiens International Corporation