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SAPIENS INTERNATIONAL CORPORATION N.V.

(SPNS)
  Report
Delayed Nasdaq  -  04:00 2022-09-30 pm EDT
19.18 USD   -1.49%
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Old Mutual Insure, South Africa's Oldest Non-Life Insurer, Selects Sapiens for Complete Data and Analytics Solution

08/10/2022 | 04:05am EDT

Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the deployment of Sapiens Intelligence by Old Mutual Insure (OMI), South Africa's oldest insurance company.

Sapiens' solution will provide an enterprise-wide consolidated view of the organization's data and support its reporting and analytics needs.

Old Mutual Insure has been a Sapiens customer since 2006, a 16-year relationship that began with the implementation of Sapiens Tia Enterprise solution for its core business, followed by the adoption of Sapiens ReinsuranceMaster for its reinsurance business. The addition of Sapiens Intelligence is the natural next step in Old Mutual's digital transformation strategy with Sapiens.

'We were looking for an enterprise-level data platform with native connectivity to our existing systems, and Sapiens Intelligence was a perfect fit,' said Denver Naidoo, Old Mutual Insure's Chief Data Officer. 'Due to licensing issues with our hosting platform, we requested that Sapiens cut back their normal nine-to-ten-month implementation period down to six or seven months, which they were successfully able to accommodate.'

Sapiens Intelligence has a complete and optimized insurance information hub, integrating all business units and product lines into one unified and consistent organizational view.

'Old Mutual Insure now has access to a wide landscape of heterogenous systems ranging from core applications from Sapiens to third-party external data sources,' explained Roni Al-Dor, Sapiens president and CEO. 'The foundational R&D that was done on this project will be brought to bear on other existing Sapiens Tia Enterprise customers, in regions across the globe.'

Sapiens Intelligence enriches processes with model outcome and predictions, optimizing the insurer's performance - driving cost reduction as well as improving customer experience.

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by more than 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers' compensation and life 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.

About Old Mutual Insure

Old Mutual Insure is the oldest insurer in South Africa, tracing its history back more than 177 years. It services personal, commercial and corporate customers across South Africa, as well as in Namibia, Botswana, Zimbabwe, and Nigeria under the Old Mutual brand. Old Mutual Insure is the second largest Insurer in South Africa with a gross written premium over R15.92 million in 2021. As one on the leading companies in southern Africa's non-life insurance landscape, they are justifiably proud of their tradition of service and quality. For more information visit https://www.oldmutual.co.za/.

Media Contact

Shay Assaraf

Chief of Marketing, Sapiens

Shay.assaraf@sapiens.com

Investor's Contact

Dina Vince

Head of Investor Relations, Sapiens

ir@sapiens.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
OLD MUTUAL LIMITED 2.62% 9.78 End-of-day quote.-25.34%
SAPIENS INTERNATIONAL CORPORATION N.V. -1.49% 19.18 Delayed Quote.-44.33%
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Financials (USD)
Sales 2022 482 M - -
Net income 2022 53,8 M - -
Net Debt 2022 - - -
P/E ratio 2022 20,0x
Yield 2022 3,65%
Capitalization 1 056 M 1 056 M -
Capi. / Sales 2022 2,19x
Capi. / Sales 2023 2,01x
Nbr of Employees 4 044
Free-Float 49,0%
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 19,18 $
Average target price 28,25 $
Spread / Average Target 47,3%
EPS Revisions
Managers and Directors
Roni Al-Dor President, Chief Executive Officer & Director
Roni Giladi Chief Financial Officer
Guy Shimon Bernstein Chairman
Ilan Buganim Chief Technology & Information Officer
Yaacov Elinav Independent Director
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