Sapiens Strengthens Presence in DACH for Further Growth & Expansion Across the Region
Company continues investment in product, sales and support across the DACH region with plans for further widening its product offering to life & annuities
HAMBURG, Germany and NEW YORK, June 23, 2023 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, has significantly strengthened its presence in DACH countries, as it furthers its strategy to expand business and provide more innovative technology to the region's insurance market. Sapiens has made significant investment in the region expanding its P&C and Digital products and increasing its sales and support team. Sapiens intends to continue developing its offering beyond P&C, Digital and Reinsurance, into life & annuities solutions in the future.
Sapiens already has significant operations in the DACH region following the acquisition of Germany-based sum.cumo in 2020. The acquisition enabled Sapiens to leverage the technology providers' expertise and their sum.cumo policy management system to extend their offer of digital transformation solutions to insurers of all sizes. sum.cumo is fully integrated into the Sapiens organization enabling the company to offer both its IDITSuite and SCIP solutions to DACH region insurers.
"Sapiens is already providing many insurers across the DACH region with the tools, knowledge and expertise necessary to thrive in a rapidly evolving and increasingly digitized industry," continued Roni Al-Dor, CEO of Sapiens. "The German insurance industry is one of the largest in the world, with total premiums exceeding €220 billion annually, and we are well-positioned to capitalize on this by offering our Core, Digital, Data and Reinsurance SaaS solutions. This is yet another example of Sapiens establishing its footprint, strong customer base and teams to the international markets, focusing our commitment to providing the highest quality products and services to our customers throughout the world."
Sapiens is already working with significant players in the DACH region providing its IDITSuite solution to Mercedes Benz Versicherung which offers warranty insurance products in Germany and beyond. Sapiens provides the European market leader in agricultural insurance, Vereinigte Hagelversicherung (total insured sum of 14.2bn Euros) a comprehensive software solution on the cloud starting off with Germany, the first of multi country rollout.
"The true power of our organization lies in the seamless synergy between our global and local offices, by sharing a vision that will fuel our success," said Bjoern Eickmann, Senior Director Digital and Site Manager for Sapiens in Germany.
"Our goal to enable insurers to make the transition into the digital world will remain unchanged, helping them to continuously evolve and thrive," added Mathias Harrassowitz, Chief Commercial Officer at Sapiens Germany.
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens' cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data and digital domains to accelerate our customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers' compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management.
For more information visit https://sapiens.com or follow us on LinkedIn.
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Investor & Media Contact:
Yaffa Cohen-Ifrah
Chief Marketing Officer & Head of Investor Relations, Sapiens
yaffa.cohen-ifrah@sapiens.com
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SOURCE Sapiens International Corporation
