The strategic collaboration accelerates operational
efficiencies and drives premium growth for P&C
insurers
ROCHELLE PARK, N.J.,
Feb. 26, 2024 /PRNewswire/
-- Sapiens International Corporation (NASDAQ: SPNS)
(TASE: SPNS), a leading global provider of software solutions for
the insurance industry, and DataCrest, a pioneer in innovative
insurance solutions, today announced the formation of a strategic
partnership to revolutionize the application process and drive
premium growth for P&C insurers.
The partnership between Sapiens' market-leading solutions and
DataCrest's AppEase platform will accelerate operational
efficiencies for P&C insurers. The collaboration will enable
DataCrest to better cater to its customers' needs and empower them
to develop more leading digital experiences, to increase
efficiency, revenue, and hit ratios. Sapiens' customers will reap
many competitive advantages, including reduced sales cycles of
about 80% by collecting apps data electronically, improved ease of
business, more informed and faster decisions through analytics,
removal of redundant data entry, and quicker quotes and
indications.
"The collaboration between Sapiens and DataCrest promises a
multitude of benefits for P&C insurers, including an advanced
front-end solution designed to streamline applications/submission
intake and boost efficiencies to improve underwriting decision
making," said DataCrest's CEO Tom
Young. "With DataCrest's expertise and Sapiens' cutting-edge
solutions, this partnership aims to redefine industry standards by
increasing the ease of doing business, driving premium growth, and
lowering loss ratios."
"Strategic partnerships between the right insurtechs and
solution providers can play a crucial role in the future endeavors
and achievements of today's carriers," said Gayle
Herbkersman.
Head of North America P&C Insurance Platform Business Unit.
"By working together, Sapiens and DataCrest can offer
next-gen, cost-effective solutions to our customers while further
expanding the boundaries of the insurtech revolution. DataCrest has
proven to be a model partner and has shown great diligence in
refining the integration of our two solutions. They have already
forged valuable relationships with customers."
About DataCrest
DataCrest is at the forefront of the insurance technology
revolution, offering innovative solutions that empower P&C
insurance providers. Their flagship product, AppEase, is a
software-free management platform with customized dynamic
applications, submission workflows, status, and communications. It
streamlines renewal processes, enhances underwriting and broker
personalization, and simplifies carrier application ingestion. With
AppEase, insurance providers can reduce sales cycles by up to 80%,
deliver secure applications with ease, and eliminate redundant data
entry which helps cross sales.
To learn more about DataCrest, visit our website.
Media Contact:
Eric
Hilkowitz
Strategic Partnership Manager
DataCrest
erich@mydatacrest.com
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS)
empowers the financial sector, with a focus on insurance, to
transform and become digital, innovative, and agile. With more than
40 years of industry expertise, Sapiens' cloud-based SaaS insurance
platform offers pre-integrated,
low-code capabilities across core, data, and digital
domains to accelerate our customers' digital transformation.
Serving over 600 customers in more than 30 countries, Sapiens
offers insurers across property and casualty, workers'
compensation, and life insurance markets the most
comprehensive set of solutions, from core to complementary,
including Reinsurance, Financial & Compliance, Data &
Analytics, Digital, and Decision Management. For more
information visit https://sapiens.com or follow us
on LinkedIn.
Investor and Media Contact:
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Investor Relations
Sapiens International
yaffa.cohen-ifrah@sapiens.com
Forward-Looking Statements
Certain matters discussed in this press release that are
incorporated herein 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 pandemic 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; 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 recent novel coronavirus pandemic, which
adversely affected our results of operations, or 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 most
recent Annual Report on Form 20-F, 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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