Sapiens UnderwritingPro solution drives
efficiency and automation with advanced technology and end-to-end
functionality
ROCHELLE
PARK, N.J., Dec. 18,
2024 /PRNewswire/ -- Sapiens International
Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider
of software solutions for the insurance industry, announced today
that Sapiens UnderwritingPro for Life & Annuities has received
a 2024 XCelent award, in the Customer Base and Support categories
in the North America region for
new business and automated underwriting (NBUW) systems. This marks
the third consecutive time Sapiens has been awarded by Celent
for its underwriting solution.
Research and consulting firm Celent analyzed 20 NBUW systems for
North America life insurance and
using their Technical Capability Matrix placed solutions in
categories based on the sophistication and breadth of its
technology and functionality. Based on reference materials and a
live demonstration, Sapiens was highlighted as a Functionality
Standout in the matrix. Customer base and support is also analyzed
with opinion drawn from customer references and Sapiens was
recognized as the top performer in this category.
"This award acknowledges Sapiens' commitment to delivering
exceptional solutions that empower insurers to streamline processes
and achieve superior outcomes," said Roni Al-Dor, CEO and
President of Sapiens. "UnderwritingPro reflects our dedication to
innovation, customer success, and operational excellence, enabling
our clients to drive efficiency and elevate their underwriting
capabilities."
According to the Celent report, "The system's case management
and underwriting features provide end-to-end functionality for the
full underwriting process. A new feature is direct messaging with
agents within the UnderwritingPro system, where underwriters
can add case notes and request specific documents from agents,
which are then visible in the agent's portal." Celent also
recognized significant investment into Sapiens Underwriting Rules
Engine stating, "The rules engine was revised to provide search
capability, and the UI across all rules engine components makes
configuration much simpler. Most Sapiens clients are
self-sufficient and manage their rules with non-technical
staff."
The report added, "UnderwritingPro's client base has helped this
become a strong new business and underwriting solution targeted at
making the underwriting process more effective and efficient for
any line of business. Celent believes it should be on an insurer's
short list if they are looking for a new business and underwriting
system."
Sapiens UnderwritingPro is a web-based, new business, automated
underwriting solution that drives straight-through processing,
elevating both the internal and external customer experience. Using
traditional data and evolving, alternative data sources,
UnderwritingPro provides innovative and accelerated risk analysis
and a full-featured underwriting workbench to support the wide
spectrum of new business cases, from application receipt to
coverage decision.
To download the report, click here
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.
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.
Logo:
http://mma.prnewswire.com/media/585787/Sapiens_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/sapiens-wins-xcelent-award-for-customer-base-and-support-for-underwritingpro-for-life--annuities-302334918.html
SOURCE Sapiens International Corporation