HOLON, Israel, March 4, 2014 /PRNewswire/ --
Sapiens International Corporation, (NASDAQ and TASE: SPNS), a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector, announced today that global specialist insurer Hiscox
(LSE:HSX), has selected the Sapiens IDIT Software Suite (Sapiens
IDIT) as a common platform for its global retail insurance
businesses. The platform will include policy administration,
claims, and billing.
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"We looked at a number of packaged systems on the P&C market
and Sapiens IDIT really stood out. The solution is agile and will
boost our ability to respond to the industry's rapid rate of
change," said Stephane Flaquet, Global CIO with Hiscox.
"Being selected by Hiscox is a significant win for Sapiens and
helps us to continue our strong momentum in the international
P&C market," said Roni Al-Dor,
Sapiens President and CEO. "The Hiscox implementation further
expands our footprint in the UK market - an important strategic
target for Sapiens."
Hiscox selected Sapiens IDIT due in large part to the strong
match of the solution's technology and functional capabilities to
Hiscox's business needs. Also contributing to the decision was the
close alignment between the companies' common cultures and mutual
commitment to Hiscox success. Sapiens IDIT will serve as the common
platform for retail insurance business. The implementation of
Sapiens IDIT will also help Hiscox to:
- Provide a superior customer experience across all
channels;
- Increase speed to market: Simplify and quickly apply system
changes, enabling Hiscox to swiftly respond to new market
opportunity and continually changing market dynamics; and
- Reduce overall total cost of ownership.
About Hiscox
Hiscox, headquartered in Bermuda, is an international specialist
insurance group listed on the London Stock Exchange (LSE:HSX).
There are three main underwriting parts of the Group - Hiscox
London Market, Hiscox UK and Europe and Hiscox International. Hiscox London
Market underwrites mainly internationally traded business in the
London Market - generally large or complex business which needs to
be shared with other insurers or needs the international licenses
of Lloyd's. Hiscox UK and Hiscox Europe offers a range of
specialist insurance for professionals and business customers, as
well as high net worth individuals. Hiscox International includes
operations in Bermuda, Guernsey
and USA.
For further information, visit http://www.hiscoxgroup.com.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a
leading global provider of software solutions for the insurance
industry, with an emerging focus on the broader financial services
sector. We offer core, end-to-end solutions for the general
insurance, property & casualty, life, pension and annuities
markets, and business decision management software, globally. We
have a track record of over 30 years in delivering superior
software solutions to more than 130 financial services
organizations. Our team of more than 900 professionals operates
through our fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific. For more information:
http://www.sapiens.com
Some of the statements in this press release may constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities and
Exchange Act of 1934 and the United States Private Securities
Litigation Reform Act of 1995. Words such as "will," "expects,"
"believes" and similar expressions are used to identify these
forward-looking statements (although not all forward-looking
statements include such words). These forward-looking statements,
which may include, without limitation, projections regarding our
future performance and financial condition, are made on the basis
of management's current views and assumptions with respect to
future events. Any forward-looking statement is not a guarantee of
future performance and actual results could differ materially from
those contained in the forward-looking statement. These statements
speak only as of the date they were made, and we undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
We operate in a changing environment. New risks emerge from time to
time and it is not possible for us to predict all risks that may
affect us. For more information regarding these risks and
uncertainties as well as certain additional risks that we face, you
should refer to the Risk Factors detailed in Item 3 of Part III of
our Annual Report on Form 20-F for the year ended December 31, 2012 and subsequent reports and
registration statements filed from time to time with the Securities
and Exchange Commission.
Contact:
Yaffa Cohen-Ifrah
VP Corporate Marketing & Communications
Sapiens International
Office: +972-3-790-2026
e-Mail: yaffa.cohen-ifrah@sapiens.com
James Carbonara
Regional Vice President
Hayden IR
Office: +1-646-755-7412
e-Mail: James@haydenir.com
SOURCE Sapiens Technologies
