Latest version enhances operational
efficiency, regulatory reporting, and strategic decision-making
with robust business insights
ROCHELLE PARK, N.J.,
April 25,
2024 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider
of software solutions for the insurance industry, today announced
the launch of its latest version of Sapiens ReinsuranceMaster.
The new release of Version 9 brings a multitude of enhancements
and technology stack updates, designed to empower insurers and
reinsurers with robust, enriched functionality to support business
requirements. This includes automating global inter-company
retrocession, facilitating U.S. NAIC statutory reporting (Schedule
F), and real-time reinsurance allocation support ('reinsurance as a
service').
The latest release offers a multitude of enhancements, with one
of the standout features being the seamless integration of Sapiens
Intelligence with Sapiens ReinsuranceMaster. This integration
empowers users with advanced data capabilities and actionable
insights through out-of-the-box reinsurance reports and analytics
of the reinsurance portfolio's performance.
In addition, the new release brings significant improvements to
the user experience, with a revamped user interface, enhancements
in processing performance through improvements and parallel
processing mechanisms, improved scalability and
operability.
"With the growing significance of reinsurance in today's
volatile environment, our latest version of Sapiens
ReinsuranceMaster with Sapiens Intelligence offers even greater
value to insurers and reinsurers, catering to the ever-changing
demands of this dynamic market," said Roni
Al-Dor, Sapiens President & CEO. "Leveraging the shared
experience from our other products as well as requirements from our
global client base, the solution is now very well-positioned to
support global automation of complex reinsurance programs and
provide management with insights into reinsurance performance as
well as statutory reporting."
Sapiens ReinsuranceMaster is a comprehensive, single platform
for large and multi-national reinsurance programs, providing full
financial control and flexibility across all lines of business. The
solution supports the entire range of reinsurance contracts,
providing full support for all auditing requirements and a
consolidated view of liabilities and risks, as well as helping
prevent financial leakage.
Sapiens Intelligence, now a fully integrated component of
Sapiens ReinsuranceMaster v.9, produces actionable insights to
maximize the value of data and KPIs for smarter decision making,
improving reinsurance business management.
About Sapiens
Sapiens International Corporation (NASDAQ and 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
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