Sapiens' AI-driven platform enables insurers
to embrace the latest innovative technologies to make smarter
business decisions and increase automation
ROCHELLE PARK, N.J.,
June 18, 2024 /PRNewswire/ -- Sapiens
International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading
global provider of software solutions for the insurance industry,
today launched its AI-powered, open, integrated, cloud-native
platform. Sapiens Insurance Platform leverages digital engagement,
data intelligence, core business processing solutions, and ML and
GenAI capabilities to help insurers seamlessly innovate their
offerings and processes, enabling them to stay competitive in a
dynamic market with smart, data-driven business decisions and hyper
automation of business process. The integration of AI across the
platform was accelerated by Sapiens' recent integration with
Microsoft, offering insurers advanced GenAI capabilities, as well
as tailored and unique solutions to accelerate growth and
efficiency.
Sapiens Insurance Platform speeds growth by supporting
end-to-end insurance processes across all lines of business,
underscored by Sapiens' global expertise and local presence around
the globe. Moreover, the speed to market Sapiens' customers gain
via the pre-integrated, packaged business solutions ensures rapid
deployment and implementation. This allows insurers to swiftly
adapt to market changes and offer innovative products and services
more efficiently.
"Sapiens' next generation enhanced platform empowers our
customers to leverage AI across their business processes, enabling
them to stay ahead, drive growth, and exceed customer expectations.
By adopting the platform approach, streamlining our processes and
leveraging shared foundations and technology engines, we deliver
even greater value to our customers, more quickly than ever
before," said Roni Al-Dor, Sapiens
President & CEO. "Sapiens integration with Microsoft Azure
OpenAI accelerates the use of AI services across Sapiens Insurance
Platform."
"Today's insurers are focused on how to grow their books of
business efficiently while making optimal decisions on
underwriting, claims and customer service," said Karlyn Carnahan, head of Celent's North American
insurance practice. "They're looking for platforms with modern
technology to streamline their operations and improve their overall
efficiency. They're also focused on open APIs for easy
integration to broad ecosystems, easy configuration tools to tailor
functionality to their specific needs, and above all, access to
data. Solutions that offer these kinds of modern capabilities
are gaining the most momentum with insurers."
Sapiens Insurance Platform provides insurers with a robust
ecosystem to streamline operations and enhance customer
experiences. Sapiens chose Microsoft Azure as their cloud provider
due to its enterprise focus, perfectly suited to the needs of large
insurers.
"Our collaboration with Sapiens highlights Microsoft's
dedication to empowering the insurance industry with transformative
AI solutions. This collaboration not only showcases the potential
of Microsoft Azure and our AI technologies but also sets a new
standard for innovation within the insurance industry," said
Patrice Amann, regional leader,
financial services at Microsoft.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
global leader in intelligent insurance 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. We 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 SaaS 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
Chief Marketing Officer and Head of Investor Relations
Sapiens International
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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