Sapiens DataSuite on the cloud accelerates the
insurer's scalability and cost-efficiency, streamlines operations,
and enables faster insights
UXBRIDGE, England, Nov. 4, 2024
/PRNewswire/ -- Sapiens International
Corporation (NASDAQ: SPNS) (TASE: SPNS), a leading global
provider of software solutions for the insurance industry, today
announced the go-live of Sapiens DataSuite by a Tier 1 insurer
based in Africa. Powered by
Sapiens DataSuite, the migration of the insurer's data
platform to the cloud provides the company with an enterprise-wide,
consolidated view of data to improve performance, productivity,
security, and user experiences.
A longtime Sapiens' customer, the insurer implemented Sapiens
Tia Enterprise core solution in 2006, followed by Sapiens
ReinsuranceMaster. The addition of DataSuite and migration to the
cloud solidifies the insurer's digital transformation strategy. The
enhanced data processing capacity enables the company to process,
transform and load more than 50 billion records within 40 hours and
perform a daily incremental load of more than 70 million records.
The new platform empowers the insurer to bring huge amount of data
to a central data lake that serves all the organisation for
insights, reports, dashboards, business decision, and AI.
According to the insurer, the go-live with Sapiens has provided
their organisation with a future-ready, scalable platform, which is
a major step forward in their efforts to modernise the company's
data infrastructure and support their reporting and analytics
needs. Partnering with Sapiens has enabled the insurer to leverage
Sapiens' invaluable research and development expertise and drive
tangible business value from the latest cloud technologies.
"We are thrilled to have played a pivotal role in our longtime
client's digital transformation journey and to facilitate the
successful migration of their data platform to the cloud," said
Roni Al-Dor, President and CEO of
Sapiens. "Sapiens' in-depth understanding of the insurance market
enriches our solutions with the innovative capabilities our
customers need to drive efficiency, agility, and growth."
Sapiens DataSuite is a data management solution that empowers
insurers to produce actionable insights and maximise the value of
their data, resulting in smarter decision making. DataSuite is
a modular, highly innovative, business intelligence solution
specifically for insurance markets.
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
Email: 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 realise 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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