Sapiens Insight™ for reinsurance launched in the U.S.
New insurance solution integrates management of ceded and assumed reinsurance
April 19, 2005
RESEARCH TRIANGLE PARK, NC – APRIL 19, 2005 - Sapiens International
Corporation N.V. (NASDAQ and TASE: SPNS), a leading global provider of insurance
business solutions, announced today, at the 2005 Risk and Insurance Management
Society (RIMS) conference being held in Philadelphia, the U.S. release of Sapiens
INSIGHT™ for Reinsurance a new component of the Sapiens INSIGHT™ suite of
insurance solutions.
Sapiens INSIGHT™ for Reinsurance supports carriers and reinsurers in the management
of ceded and assumed reinsurance including proportional and non-proportional treaties,
facultative contracts, and finite risk agreements. Leveraging Sapiens’ pioneering
eMerge™ Business Rules Technology, Sapiens INSIGHT™ for Reinsurance is based on
ACORD standards and XML technology. It is designed to support both multi-currency
and multi-lingual processing, and accommodates multi-company corporate structures.
The solution currently supports commercial and personal lines. Life product support is
planned to be available in a year-end 2005 release.
Already implemented in its first production client, this state-of-the-art, web-enabled
solution streamlines and reduces the cost of handling reinsurance business functions
through automation and integration of business rules. In addition, business users may
dynamically alter the behavior of the solution in response to market changes, corporate
and stakeholder needs.
“We are pleased to introduce this unique offering to the insurance marketplace. Our
solution provides the power and flexibility of business rules technology tightly integrated
with a core Reinsurance application.” said, Steven Bessellieu, President of Sapiens
Americas. “This innovative reinsurance solution offers firms a solid business platform
for managing the risks inherent in today’s fast-paced, ever changing, tightly regulated
marketplace”.
About Sapiens
Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a member of Formula Group
(NASDAQ: FORTY and TASE: FORT), is a leading global provider of proven IT solutions that modernize
business processes and enable insurance organizations to adapt quickly to change. Sapiens' innovative
solutions are widely recognized for their ability to cost-effectively align IT with the business demands for
speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the United
Kingdom, EMEA and Asia Pacific, and has partnerships with market leaders such as IBM and EDS. Sapiens'
clients include AXA, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial Group, Prudential,
Abbey National, ING, and Occidental Fire & Casualty 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:
Mary Onate
Sapiens Americas
Tel: +1 919-405-1588
e-Mail: mary.o@sapiens.com
 
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