By strengthening the workforce and expertise in CanadaSapiens drives continued growth and innovation for regional customers
ROCHELLE PARK, NJ, March 4, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS ) (TASE: SPNS ), a leading global provider of software solutions for the insurance industry, today announced its strategic expansion into the Canadian market, marking a significant milestone in Sapiens’ growth trajectory. With an increased focus on providing advanced solutions and superior customer service in CanadaSapiens will strengthen support for existing Canadian clients and expand its reach to new potential clients seeking leading SaaS solutions and services in the life, property and casualty and workers’ compensation markets.
Sapiens has successfully served Canada’s leading insurers for over 15 years. Sapiens’ strategic decision to further expand its presence in Canada comes amid an increase in regional customers, including the Saskatchewan Workers’ Compensation Board (WCB). Other long-time Sapiens customers include Canada the largest mutual insurance company, Beneva; and ivari, a leading individual life insurer.
To ensure seamless expansion and meet the growing needs of customers, Sapiens intends to increase its workforce in its Ontario offices by incorporating seasoned industry professionals with global domain expertise and technical expertise. This enhances Sapiens’ ability to deliver innovative customer-centric solutions and unparalleled support to even more Canadian clients to drive growth in a competitive market and build a strong regional ecosystem.
Expansion in Canada builds on Sapiens’ proven track record of providing industry-leading solutions, as evidenced by its partnership with WCB. Sapiens CoreSuite for Workers Compensation, Sapiens DigitalSuite and Sapiens Intelligence will transform WCB’s core systems, simplify service delivery and improve operational efficiency. A series of carriers of life in Canada use Sapiens’ digital life solutions, including ApplicationPro, IllustrationPro, UnderwritingPro and CoreSuite for Life & Annuities to improve their operational efficiency and enhance the overall customer and agent experience.
“With Sapiens’ strong and growing presence in Canadatheir expertise and innovative solutions will enable us to meet the growing needs of our customers, now and in the future,” he said Philip Germain, executive director of WCB. “Sapiens provides an optimized, integrated platform, combined with the right people and a proven track record of successful implementations and ongoing support.”
“Sapiens is proud of its strong local foothold and rapidly growing presence in Canada. We are excited to begin this new chapter of increased expansion and opportunity. With our expanded footprint and expanded capabilities, Sapiens is poised for continued growth and success in the Canadian market,” he said. Roni Al-Dor, president and CEO of Sapiens. “We are steadfast in our commitment to providing the broadest platform of global best practices and enabling outcomes that improve the long-term financial health of our Canadian clients. Sapiens is well-positioned to drive positive change and empower even more insurers around the world Canada progress in an increasingly dynamic and competitive environment.”
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. With over 40 years of industry expertise, Sapiens’ cloud-based assurance SaaS platform offers pre-integrated, low-code capabilities in the core, data and digital domains to accelerate our clients’ digital transformation. Serving more than 600 clients in more than 30 countries, Sapiens offers insurers in the property and casualty, workers’ compensation and life insurance markets the most comprehensive suite of solutions, from core to complementary, including reinsurance, finance and compliance, data and analytics, digital, and governance by deciding. For more information visithttps://sapiens.comor follow us furtherLinkedIn 
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 US Private Securities Litigation Reform Act papers from 1995, which are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements can be identified by the use of the words “anticipate”, “believe”, “estimate”, “expect”, “may”, “will”, “plan” and similar expressions. Such statements reflect our current views on 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 in forward-looking statements, including but not limited to: the degree our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating companies we have acquired through the implementation of our M&A growth strategy; lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in revenue; 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 long-term, large, complex projects we undertake, which involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that increased privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely affect our results of operations and our reputation; various intellectual property issues related to our business; potential unexpected product vulnerabilities or cyber security breaches of our or our clients’ systems; risks associated with the insurance industry in which our clients operate; risks related to our global sales and operations, such as changes in regulatory requirements, widespread viruses and epidemics such as the recent novel coronavirus pandemic, which adversely affected our results of operations or currency exchange rate fluctuations and risks related to our main location in Israel and our status as Cayman Islands society.
Although we believe that such forward-looking statements are based on reasonable assumptions, if one or more underlying assumptions prove incorrect or those risks or uncertainties materialize, our actual results could differ materially from those expressed or implied by the forward-looking statements. to the future. Please read the risks discussed under the heading “Risk Factors” in our most recent Annual Report on Form 20-F to review the conditions that we believe could cause actual results to differ materially from those anticipated by the forward-looking statements. You should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations expressed in the forward-looking statements are reasonable, we cannot guarantee that future results, activity levels, performance and the 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 publicly update any forward-looking statements for any reason, to reflect actual results or changes in our expectations.
For more information:
Canadian office of Sapiens
Mississauga, ON, Canada
4230 Sherwoodtown Blvd.
Apartment 200, office 2
Mississauga NA L4Z 2G6
Email: [email protected]
Contact for investors and media
Yaffa Cohen-Ifrah
Chief Marketing Officer and Head of Investor Relations
Sapiens International
E-mail: [email protected]
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SOURCE Sapiens International Corporation
