HOLON, Israel, March 24, 2015 /PRNewswire/ --
Award recognizes Hiscox for
transformation and modernization of its retail insurance
business
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, today congratulated its specialist insurer client Hiscox on
being named a "Model Insurer" by Celent, a leading research and
advisory firm. Now in its ninth year, the Celent Model Insurer
Awards program is designed to recognize insurer best practices in
the use of technology.
(Logo:
http://photos.prnewswire.com/prnh/20120508/531104 )
Recognized in the "Operational Excellence in Non-Core Systems/IT
Management" category, Hiscox was selected by Celent analysts for
its "Da Vinci" retail insurance initiative. Key to this effort was
the successful implementation of the Sapiens IDIT Software Suite,
selected as the single platform to consolidate Hiscox's disparate
legacy systems and support new business, including Hiscox's new
Direct Home Insurance product.
Citing the Hiscox project as compelling and innovative, Celent
analysts recognized Hiscox based on quantitative success measures,
degree of innovation, technology or integration excellence, and
best practices.
"Celent recognizes Hiscox as an Operational Excellence in IT
Management Model Insurer winner for its successful DevOps practices
when transforming their retail general insurance systems," said
Karen Monks, Celent analyst and
author of the report. "Strong best practices such as IT and
business alignment, system integration and strong business results
were factors in Celent choosing Hiscox as a winner."
"Sapiens congratulates the Hiscox team on being named a Model
Insurer. This well deserved recognition shows the hard work and
commitment involved in transforming Hiscox's retail business," said
Roni Al-Dor, president and CEO of
Sapiens. "Re-platforming and migrating insurance business, while
simultaneously launching new products, is a formidable task.
Hiscox's success demonstrates the results of effective
collaboration between business, IT and the technology vendor.
Sapiens feels privileged to have worked with such a great team of
professionals."
The Celent Model Insurer 2015: Case Studies of Effective
Technology Use in Insurance report recognizes 15 insurance
technology initiatives as "Model Insurer Components" and names the
Celent Model Insurer of the Year. These case studies represent best
practices in the use of technology and span key areas of the
product and policyholder lifecycle, including product definition,
distribution, underwriting, policy administration, service, claims
and infrastructure. The report also reviews IT best practices and
measurable business results used in evaluating the Model Insurer
Components. Members of Celent's research services can download the
report at:
http://www.celent.com/reports/celent-model-insurer-2015-case-studies-effective-technology-use-insurance.
Non-members should contact info@celent.com for more
information.
About Hiscox
Hiscox, the international specialist insurer, is headquartered
in Bermuda and listed on the London Stock Exchange
(LSE:HSX). There are three main underwriting divisions in the Group
- Hiscox London Market, Hiscox Re and Hiscox Retail, which includes
Hiscox UK and Europe, Hiscox Guernsey, Hiscox
USA and subsidiary brand,
DirectAsia. Hiscox underwrites internationally traded, bigger
ticket business and reinsurance through Hiscox Re and Hiscox London
Market. Through its retail businesses in the UK, Europe and the U.S., Hiscox offers a range of
specialist insurance for professionals and business customers, as
well as homeowners. For further information:
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. Sapiens offers core, end-to-end solutions to the global
general insurance, property and casualty, life, pension and
annuities, reinsurance and retirement markets, as well as business
decision management software. The company has a track record of
over 30 years in delivering superior software solutions to more
than 130 financial services organizations. The Sapiens team of over
1,000 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, 2013 and subsequent reports and
registration statements filed from time to time with the Securities
and Exchange Commission.
Contact
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Corporate Communications
Sapiens International
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: Yaffa.cohen-ifrah@sapiens.com
