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MRS Amlin Insurance replace legacy core systems in the French, Belgian and Dutch markets with Sapiens Core P&C Platform and Reinsurance module, supported by its Data & Analytics solution; all delivered in the Sapiens Cloud
HOLON, Israel, February 2, 2023 /PRNewswire/ — International Sapiens Society(NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that leading European insurer MS Amlin Insurance SE has chosen Sapiens to redesign of a number of their software systems in several European countries.
Many of the insurer’s legacy core systems in its French, Belgian and Dutch markets will be replaced by Sapiens IDITSuite, resulting in significant gains in simplicity and consistency across all markets. Cost savings will be achieved both by removing a large number of outdated legacy applications and by reducing reliance on complex on-premises IT systems.
“We knew our requirements would not be easy to meet,” said Norbert Herkströter, COO of MS Amlin Insurance. “We have found Sapiens to be exceptionally capable of achieving the high standards we set for ourselves. I have no doubt this will be a mutually rewarding partnership, and I’m excited to see our business continue to thrive with the support of Sapiens technology.
Sapiens IDITSuite is an award-winning, end-to-end, cloud-based digital modular insurance platform; support personal and business lines of business, from acquisition, to billing, to claims and renewals. MS Amlin Insurance the implementation will use the PolicyMaster, BillingMaster and ClaimsMaster components, complemented by the market leading Sapiens ReinsuranceMaster module covering both ceded and assumed business. This is underpinned by the Sapiens Intelligence data and analytics module which aggregates insurer data to provide actionable insights that improve underwriting risk selection and reduce claims expense ratios.
“Achieving simplicity and operational excellence can be a significant challenge and overcoming such challenges is one of Sapiens’ core strengths,” said Roni Al Dor, Chairman and CEO of Sapiens. “Deployment of a single instance of our cloud-based P&C platform in three countries to support MS Amlin Insurance profitable growth plans, while providing operational efficiencies and improved client and broker experiences is a hugely complex operation. For Sapiens, our mission is to overcome such obstacles.”
The project will start with MS Amlin Insurance operation in France before going to their Belgium and Netherlands markets.
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS) is enabling the financial industry, with a focus on insurance, to transform and become digital, innovative and agile. Leveraging over 40 years of industry expertise, Sapiens offers a comprehensive insurance platform, with pre-integrated low-code solutions and a cloud-first approach that accelerates customers’ digital transformation. Serving more than 600 customers in 30 countries, Sapiens offers insurers in the property and casualty, workers’ compensation and life insurance markets the most comprehensive set of solutions, from core to complementary , including reinsurance, finance and compliance, data and analytics, digital and decision-making. Management. For more information, visit https://sapiens.com or follow us on LinkedIn.
About MS Amlin Insurance
MS Amlin Insurance SE is a specialist P&C and marine insurer with local teams operating in all markets within Europe and the UK. Committed to providing an unparalleled service experience, MS Amlin Insurance works closely with brokers and companies to provide bespoke, digitally traded solutions to meet clients’ insurance needs.
Member of the MS&AD group, one of the world’s top 10 non-life insurers; MRS Amlin Insurance is domiciled at Belgium and is rated A (Stable) by Standard & Poor’s and A (excellent) AM BEST.
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Media and investor contact Yaffa Cohen-Ifrah |
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 of 1995. , which are based on our beliefs, assumptions and expectations, and on information currently available to us. These forward-looking statements can be identified by the use of the words “anticipate”, “believe”, “estimate”, “expect”, “may”, “will”, “plan” and similar expressions. These statements reflect our current views regarding future events and are subject to the risks and uncertainties associated with the pandemic. 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 by the forward-looking statements, including, but without limitation: our degree of success in our plans to leverage our global footprint to increase our sales; the degree of our success in integrating companies we have acquired through the implementation of our M&A growth strategy; long development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our long and complex sales cycles, which do not always translate into the realization of revenue; the degree of our success in retaining existing customers or effectively competing for greater market share; difficulties in successfully planning and managing changes in the size of our operations; the frequency of long-term, material, complex projects we undertake that involve complex estimates of project costs and profit margins, which sometimes change along the way; the challenges and potential liability that enhanced privacy laws and regulations pose to our business; occasional disputes with customers, which may negatively impact our results of operations and our reputation; various intellectual property issues relating to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our customers operate; risks associated with our global sales and operations, such as changes in regulatory requirements, large-scale viruses and disease outbreaks such as the recent novel coronavirus pandemic, which adversely affected our operating results, or rate fluctuations exchange; and the risks associated with our principal location in Israel and our status as Cayman Islands company.
Although we believe that these forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or should such risks or uncertainties materialize, our actual results could differ materially from those expressed or implied. understood by the forward-looking statements. Please read the risks discussed under “Risk Factors” in our most recent Annual Report on Form 20-F, to discuss the conditions that we believe could cause actual results to differ materially from those contemplated by forward-looking statements. You should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. Except as required by law, we undertake no obligation to publicly update forward-looking statements for any reason, to conform such statements to actual results or to changes in our expectations.
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