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Sapiens International (SPNS) delivers cutting-edge insurance software solutions powering digital transformation across global financial services. This centralized news resource provides investors and professionals with verified updates on company developments and industry leadership.
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Sapiens International (NASDAQ: SPNS) has announced that Pioneer Insurance and Surety , the leading insurance provider in the Philippines, has selected the Sapiens Insurance Platform to drive its digital transformation initiative. The platform will support Pioneer's digital strategy and enable quick, cost-effective scaling of operations.
The collaboration aims to upgrade Pioneer's operations through advanced technology implementation, focusing on accelerating product development, automating workflows, and enhancing customer experiences. Pioneer's President and CEO Lorenzo Chan emphasized that the partnership will improve operational efficiency and ensure self-sufficiency through Sapiens' mentorship model.
Sapiens' President and CEO Roni Al-Dor highlighted that this partnership demonstrates the company's growth in the Philippines region and will support Pioneer's ambitious growth goals while enabling superior customer service delivery through automated and digitized operations.
Sapiens International (NASDAQ: SPNS) reported its Q4 2024 financial results, showing revenue of $134.3 million, a 2.6% year-over-year increase. The company's Q4 GAAP net income rose 5.3% to $17.9 million, with diluted EPS of $0.32.
For the full year 2024, revenue increased 5.4% to $542.4 million, with GAAP net income growing 15.6% to $72.2 million. North America led global performance with a 6.3% year-over-year revenue increase. The company's gross margin improved by 120 basis points to 43.9%.
Looking ahead, Sapiens provided 2025 guidance for non-GAAP revenue between $553-558 million and non-GAAP operating profit of $98-102 million, targeting an operating margin of 18% at the midpoint. On a constant currency basis, the projected growth rate would be 3.4% with an operating margin of 18.7%.
Sapiens International (NASDAQ: SPNS) has announced the release of UnderwritingPro v14, an enhanced automated underwriting and business case management system for life & annuities insurers. The new version introduces significant technological improvements, including AI integration with predictive analytics and intelligent insights for faster, more precise underwriting decisions.
Key features include a new agent communication portal that streamlines agent-underwriter interactions, enhanced user-configurable rules for automated underwriting decisions, improved work item configuration for workflow management, and streamlined deployment practices for efficient rule migration across environments.
The solution aims to help insurers automate decisions, optimize underwriting processes, reduce turnaround times, and enhance operational accuracy while providing an improved user experience in the life, health, and annuities sectors.
Sapiens International (NASDAQ: SPNS) has scheduled its Fourth Quarter and Year-End 2024 financial results announcement for February 18, 2025. The company will host a conference call and webcast at 9:30 a.m. Eastern Time (4:30 p.m. in Israel) to discuss the results.
Participants can join via phone using toll-free numbers: 1-888-642-5032 (North America), 972-3-9180644 (International), and 0-800-917-5108 (UK). A live webcast will be available on Sapiens' website, with a replay accessible for 90 days following the event.
Sapiens International (NASDAQ: SPNS) has announced the availability of its SaaS solutions on the Microsoft Azure Marketplace, enhancing accessibility for Azure customers worldwide. As a premium member of the Microsoft Top 100 Partner program, Sapiens is leveraging Azure's advanced AI tools, including Microsoft Copilot and Azure OpenAI Service, to transform the insurance industry digitally.
The company has integrated Microsoft GenAI technology into its newly launched insurance platform. The Digital Insurance Platform for Life & Annuity offers insurers a complete transformation solution with next-generation capabilities throughout the life and annuity lifecycle, including eAPP, illustrations, underwriting, and policy administration.
This strategic alignment with Microsoft Azure aims to provide insurers with streamlined deployment and management capabilities while enabling them to benefit from Azure's scalability, reliability, and agility.
Sapiens International (NASDAQ: SPNS) has announced its participation in the 27th Annual Needham Growth Conference, scheduled for January 14-16, 2025, at the Lotte NY Palace Hotel in New York City. CFO Roni Giladi will lead a group presentation on January 15, from 2:15 p.m. to 2:55 p.m. EDT in 'Holmes 1' and will conduct one-on-one meetings throughout the day.
The presentation will be available via webcast on Sapiens' IR website under the events section. Interested parties can schedule meetings through their Needham representatives, though meeting schedules may be subject to adjustment by conference organizers.
Sapiens International (NASDAQ: SPNS) has won the 2024 XCelent award in the Customer Base and Support categories for its UnderwritingPro solution for Life & Annuities in North America. This marks the third consecutive recognition for their underwriting solution. The award follows Celent's analysis of 20 NBUW systems, where Sapiens was highlighted as a Functionality Standout in their Technical Capability Matrix.
UnderwritingPro, a web-based automated underwriting solution, features direct messaging with agents, comprehensive case management, and an enhanced rules engine that enables non-technical staff to manage rules independently. The system was praised for making the underwriting process more effective and efficient across all lines of business, with Celent recommending it for insurers seeking new business and underwriting systems.
Sapiens International (NASDAQ: SPNS) reported Q3 2024 financial results, showing a 4.8% increase in revenue to $137 million compared to Q3 2023. Gross profit rose by 7.8% to $60.3 million, and net income increased by 15.5% to $18.3 million. Diluted EPS grew 17.9% to $0.33. Non-GAAP figures showed a 6.0% increase in gross profit to $62.8 million and a 10.5% rise in net income to $21.1 million, with diluted EPS at $0.37.
Revenue growth was driven by 7.1% in Europe, 1.7% in North America, and 6.6% in other regions. However, revenue fell short of targets, prompting a reduction in 2024 non-GAAP revenue guidance to $541-$546 million from $550-$555 million. The non-GAAP operating margin is expected to be 18.2%. For 2025, Sapiens anticipates low single-digit revenue growth.
Sapiens International announced that a Tier 1 African insurer has successfully implemented Sapiens DataSuite cloud solution. The implementation enhances the insurer's data processing capabilities, enabling them to process over 50 billion records within 40 hours and perform daily incremental loads of more than 70 million records.
The insurer, a longtime Sapiens customer since 2006, previously utilized Sapiens Tia Enterprise core solution and Sapiens ReinsuranceMaster. The new cloud-based platform centralizes data in a data lake, supporting insights, reports, dashboards, business decisions, and AI applications, marking a significant step in their digital transformation strategy.
Sapiens International (NASDAQ: SPNS) has scheduled its Third Quarter 2024 financial results announcement for November 11, 2024. The company will host a conference call and webcast at 9:30 a.m. Eastern Time (4:30 p.m. in Israel) to discuss the results. Investors can participate through toll-free numbers provided for North America, International, and UK participants. A live webcast will be available on Sapiens' website, with a replay accessible for 90 days following the event.