Sapiens Interntl Stock Price, News & Analysis

Sapiens International Corporation (NASDAQ: SPNS) has announced the deployment of its cloud-native IDITSuite and Sapiens Intelligence platforms for bolttech, replacing legacy systems in Hong Kong's general insurance operations. This transition aims to enhance automation, standardization, and oversight, while reducing infrastructure costs and improving scalability. Sapiens will also support bolttech with Cloud & Operations and Sapiens API Conductor, facilitating digital API deployment.

The collaboration marks a significant step in digital transformation for bolttech in a competitive market.

Sapiens International Corporation (NASDAQ: SPNS) announced a significant collaboration with Toyota Insurance Management Spain to implement the Sapiens DianaSuite, modernizing its core insurance system. This initiative aims to enhance customer experience and operational efficiency in the Iberian property and casualty market. DianaSuite offers a comprehensive view of customer interactions, regulatory compliance, and is designed for seamless integration across multiple devices. The project reflects Sapiens' commitment to empowering insurers with advanced digital solutions for enhanced agility and competitiveness.

Sapiens International Corporation (NASDAQ: SPNS) announced the successful deployment of its IDITSuite platform with HDI Global Specialty SE in the Netherlands, enhancing their policy management and automation. This transition replaces HGS's legacy system, allowing better oversight on policies and risk exposures. Following this, further digital transformations are planned for HGS’s Belgium and Denmark branches. HGS's CEO praised Sapiens for delivering a customized solution. The IDITSuite supports end-to-end operations for non-life insurance.

DigitalOwl has formed a strategic partnership with Sapiens International Corporation (NASDAQ: SPNS) to advance digital transformation in the insurance sector. This collaboration aims to enhance underwriting processes by leveraging DigitalOwl's innovative technology that digitizes medical records, significantly reducing review time. The Digital Underwriting Abstract (DUA) streamlines access to essential data, facilitating quicker and more efficient decision-making for underwriters. This initiative is expected to improve client service and adapt to the fast-evolving insurance landscape.

Sapiens International Corporation (NASDAQ: SPNS) reported a 1% increase in revenue for Q3 2022, reaching $119 million, alongside a 4.1% rise in gross profit to $50.3 million. Operating income also rose to $16.6 million, up 2.1% year-over-year. However, the company revised its 2022 revenue guidance downward to a range of $472-$478 million from $480-$485 million, citing macroeconomic impacts. Despite these challenges, Sapiens maintained its operating margin guidance between 17.5%-17.7%.

Sapiens International Corporation has announced the appointment of Gary Sherne as the new EVP and Chief Revenue Officer for North America, effective October 26, 2022. In this role, he will manage all go-to-market activities, aiming to accelerate revenue growth through new customer acquisition and partnerships. Sherne brings over 25 years of experience in insurance software, previously serving as Chief Revenue Officer at Vitech Systems Group and as part of Sapiens' leadership team before. His leadership is expected to strengthen Sapiens' position in the insurance software market.

Sapiens International Corporation (NASDAQ: SPNS) announced the deployment of its cloud-first P&C platform, Tia Enterprise, to facilitate the digital transformation of Norwegian insurer Landkreditt Forsikring. The transition replaces Landkreditt's legacy system, enhancing compliance and security. The Tia suite includes various products aimed at improving customer experience and operational efficiency. CEO Ane Wiig Syvertsen emphasized the importance of modern digital solutions for competitiveness, while Sapiens' CEO Roni Al-Dor recognized the partnership's success in achieving transformation goals.

Sapiens International Corporation (NASDAQ: SPNS) will release its third-quarter financial results on November 3, 2022. A conference call is scheduled for 9:30 a.m. ET to discuss these results. The company provides software solutions for the insurance industry and has over 600 clients in 30 countries. Sapiens aims to support digital transformation in the insurance sector with low-code, integrated solutions. The anticipated results will provide insights into the company's performance and strategic direction.

Sapiens International Corporation (NASDAQ: SPNS) has announced the deployment of its cloud-first P&C platform, IDITSuite, with VEREINIGTE HAGEL, Germany's leading agricultural insurer. The new system will replace the existing application landscape, allowing for seamless end-to-end processing from underwriting to billing. Initially implemented in Germany and Poland, the solution aims to modernize operations across multiple jurisdictions. Dr. Rainer Langner, CEO of VEREINIGTE HAGEL, highlighted the automation capabilities as a key reason for the partnership.