KW Specialty expands relationship with Sapiens by choosing to automate and move reinsurance management to the cloud

RALEIGH, North Carolina, October 5, 2021 / PRNewswire / – Sapiens International Company, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the financial services industry, today announced that KW Specialty (KWS), one of the main excess line insurers based in Scottsdale, Arizona, has selected Sapiens ReinsurancePro to automate their reinsurance management in the cloud.

With over 100 years of experience in surplus and surplus lines, KWS works with wholesale partners and creates products that add value to their product portfolio. Their deployment of Sapiens ReinsurancePro allows KWS to replace their old spreadsheet-based process and ensure it is streamlined, consistent and financially correct. The integration also allowed KWS to add a portfolio of General Management Agent (MGA) activities to ReinsurancePro.

In addition, using ReinsurancePro with Sapiens CoreSuite for P&C, KWS will benefit from additional process automation, including automatic data transfer and coordination between systems, more accurate accounting, and better analysis and reporting.

KWS ‘decision to choose a cloud system for the management of its reinsurance was motivated by the accessibility of the platform 24/7, and the additional IT resources available through the managed services of Sapiens. Sapiens’ wide range of managed services allows insurers to focus on their core business while leveraging the professional support of a team with deep knowledge and expertise.

“To extend our competitive advantage, we were looking for a comprehensive reinsurance solution that supported both ceded and acquired business. We needed a solution that could easily fit into our existing ecosystem and scale with us as we expand our reinsurance program, ”said Rose troller, KW Specialty’s vice president of product and data analysis.

Created and designed exclusively for the reinsurance market by some of the leading experts in the sector, Sapiens ReinsurancePro manages all reinsurance contracts and activities for all branches of activity. Integrated contract, calculation and process automation provides flexible and comprehensive financial control of reinsurance processes, including audit requirements and legal compliance. More than 100 insurers around the world use Sapiens reinsurance solutions. Sapiens ReinsurancePro can be integrated into any system and is pre-integrated with Sapiens CoreSuite for P&C.

“Sapiens’ comprehensive and verifiable reinsurance solution will allow KWS to adapt quickly to its expanding reinsurance program. Our easy-to-use platform provides the most efficient reports to simplify and streamline their reinsurance administration processes, ”said Jamie yoder, President and CEO of Sapiens North America. “We are excited to expand our partnership with KWS and enable their digital transformation to support their growth. “

About KW Specialty

KW Specialty’s personal lines approach is to collaborate with wholesale partners and create products that add additional value to their product portfolio. By offering coverages and innovative technological techniques, effective solutions are presented for various, complex and / or unusual risks. Proven knowledge of personal line products and technical expertise help KW Specialty provide increased dedicated service to the wholesale industry.

KW Specialty believes in letting its wholesale partners do what they do best, manage their volume of business. For more information: www.kwspecialty.com.

About Sapiens

Sapiens International Corporation (Nasdaq and TASE: SPNS) enables the financial sector, with an emphasis on insurance, to transform itself and become digital, innovative and agile. Drawing on over 35 years of industry expertise, Sapiens offers a comprehensive assurance platform, with pre-integrated, low-code solutions and a cloud-centric approach that accelerates customers’ digital transformation. Serving more than 600 clients in 30 countries, Sapiens offers insurers in the property and casualty insurance, workers’ compensation and life insurance markets the most complete set of solutions, ranging from basic policy, billing and complementary claims including reinsurance, finance and compliance, data and analytics, digital. , and decision management. For more information visit www.sapiens.com or follow us on LinkedIn.

Forward-looking statements

Certain matters addressed in this press release which 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, as well as the information currently available to us. Such forward-looking statements can be identified by the use of the words “anticipate”, “believe”, “estimate”, “” ” ” ” expect ‘,’ ”. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are significant factors that could cause our actual results, activity levels, performance or achievements to differ materially from the results, activity levels, performance or achievements expressed or implied by forward-looking statements, including, but not limited to not limited to: degree of success in our plans to leverage our global footprint to grow our sales; degree of success in integrating the companies we have acquired through the implementation of our M&A growth strategy; the long development cycles of our solutions, which may frustrate our ability to generate revenue and / or profit from our potential new solutions; our long and complex sales cycles, which do not always result in revenue generation; 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 the complex projects we carry out that involve complex estimates of project costs and profit margins, which sometimes change halfway; the challenges and potential liability that increased privacy laws and regulations pose to our business; occasional disputes with clients, 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 systems or those of our customers; risks associated with the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, viruses and large-scale epidemics such as the recent novel coronavirus pandemic, which adversely affected our operating results, or fluctuations in the rates of change; and the risks associated with our primary location in Israel and our status as Cayman Islands business.

Although we believe that these forward-looking statements are based on reasonable assumptions, if one or more of the underlying assumptions prove to be incorrect, or if such risks or uncertainties materialize, our actual results may differ materially from those expressed or under- understood by forward-looking statements. Please read the risks discussed under “Risk Factors” in our most recent Annual Report on Form 20-F, in order to review the conditions that we believe could cause actual results to differ materially from those anticipated in 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 future results, levels of activity, performance and the events and circumstances reflected in the forward-looking statements will be achieved or will occur. Unless required by law, we do not undertake to publicly update forward-looking statements for any reason, to conform such statements to actual results or to changes in our expectations.

SOURCE Sapiens International Corporation


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