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Tuesday November 12, 6:45 am ET
Sapiens Unveils "Policy Insight"
Insurance Solution Aimed at Improving Industry Cost Efficiencies
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- Nov. 12, 2002 --Sapiens International Corporation (Nasdaq:SPNS - News), a leading insurance business solutions provider, today unveiled Policy INSIGHT, the first offering in its INSIGHT suite of Insurance solutions.
Policy INSIGHT is a web-enabled, fully functional policy administration platform capable of supporting both commercial and personal lines of business, for multiple states. The solution enables insurance companies to automate new business and policy lifecycle processing by linking directly to their producer community through the Internet.
Policy INSIGHT was developed by Sapiens to help insurance companies respond quickly to rate and legislation changes, enhance their combined ratios through more effective underwriting and simplify the process of working with their producers.
Policy INSIGHT's modular functionality supports product development and configuration, rate-quote-issue, underwriting, and policy lifecycle transactions. The solution leverages Sapiens business rules technology and IBM's WebSphere platform, this enables insurance organizations to leverage existing IT assets while providing secure, interactive business channels to internal and external users, agents and the insured. Its architecture is structured to provide IT departments an evolutionary path to drive down the total cost of ownership by replacing redundant systems and minimizing on-going application maintenance costs.
"The goal of Sapiens' Policy INSIGHT is to streamline the increasingly complex policy management needs of large insurance organizations," said Itzick Sharir, President and CEO of Sapiens International. "Policy INSIGHT will provide Insurers with a cost-effective, reliable, and scalable means to modernize existing systems and respond quickly to market opportunities."
"The goal of our new "INSIGHT" suite is to help insurers gain increased operational efficiency and effectiveness as they move from reliance on legacy systems to compete in a newer, technology-leveraged financial services paradigm", said Judy Johnson, Vice President of Insurance Strategy, Sapiens Americas. "Our plans for Policy INSIGHT, and indeed for the entire INSIGHT family, are to offer a level of processing intelligence that enables companies to respond rapidly to the changing needs of all stakeholders."
About Sapiens International
Sapiens International Corporation (Nasdaq:SPNS - News) is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Sapiens' modular solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through wholly owned subsidiaries in North America, EMEA and Asia Pacific. The Company has partnerships with market leaders such as IBM and EDS and its clients include AXA, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial, Prudential, Abbey National, Honda, International Paper, Panasonic UK among others. For more information, please visit www.sapiens.com.
Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the company's accounting policies and other risk factors detailed in the Company's SEC filings.
Contact:
Padilla Speer Beardsley
Rebecca Green, +1-212-752-8338
e-Mail: rgreen@psbpr.com
 
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