Fintech PR
Continental General Selects Sapiens Insurance Platform for Life & Annuities to Accelerate its Operations
Sapiens enables process modernization, speed to market, and expansion of Continental General’s TPA services
ROCHELLE PARK, N.J., Aug. 7, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS) (“Sapiens”), a leading global provider of software solutions for the insurance industry, today announced that Continental General Insurance Company (together with its affiliates, “Continental General”), a life, accident, and health insurance company, has selected Sapiens as a technology partner to help accelerate operations, modernize its platform for future insurance products, and enhance its ability to scale in new markets.
In addition, Sapiens Insurance Platform will also enable Continental General to more efficiently implement its long-term care insurance specialty and expand its third-party administrator (TPA) services through its affiliated TPA, Continental General Services.
“As we continue to grow and evolve our business, Sapiens is the ideal technology partner because of its ability to provide a highly flexible and customizable suite of SaaS-based solutions that is built to fit the unique needs of our company, clients, and policyholders,” said Ayanna Burns, Chief Transformation Officer at Continental General. “Sapiens not only provides an innovative suite of solutions, but its team also brings a collaborative approach that will help us to scale up to meet complex implementation challenges involving multiple products and organizations.”
“It’s extremely gratifying for us to be chosen to deliver the end-to-end solution Continental General requires, while also accommodating its growing TPA and multi-product line needs,” said Roni Al-Dor, Sapiens President and CEO. “We are proud to be able to provide the sophisticated technical expertise, flexibility, and innovation that today’s insurance organizations need.”
Sapiens Insurance Platform helps companies accelerate growth by supporting end-to-end insurance processes across all lines of life, health, and annuities operations and is enhanced by Sapiens’ deep industry expertise. Sapiens pre-integrated, packaged business solutions ensure rapid deployment and implementation, allowing for faster time to market and enabling insurers to swiftly adapt to market changes by offering innovative products and services more efficiently.
Through this partnership, Continental General will be leveraging the capabilities of Sapiens SaaS insurance platform, which includes Sapiens CoreSuite for Life & Annuities, a comprehensive, configurable, and unified underwriting, policy, billing, and claims software to accelerate insurance transformation across all life & annuities business lines; Sapiens DigitalSuite, a comprehensive, cloud-native, future-proof digital engagement suite specifically designed to enable, sustain, and grow insurance businesses; Sapiens IllustrationPro, a dynamic point-of-sale solution for life & annuities that quickly and accurately generates quotes and compliant illustrations through an intuitive and modern engagement; Sapiens ApplicationPro, a turn-key solution that enhances customer experience, reduces cost, and creates a seamless workflow; and Sapiens UnderwritingPro, a highly configurable, award-winning accelerated underwriting and new business case management offering.
About Continental General
Based in Austin, Texas, Continental General Insurance Company was incorporated as a life, accident & health insurance company in 1961. Our family of companies and strategic partners provide administrative services to over 100,000 policyholders. We are dedicated to upholding the commitments we have made to provide excellent service to all our policyholders and serve the needs of our claimants and their families during difficult times. Learn more about Continental General at www.cgic.com.
TPA Services provided by Continental General Services, LLC (in California doing business as Continental General Administrative Services).
Continental Insurance Group, Ltd. (“CIG”) is the parent company of Continental General Management, LLC (“CGM”), Continental General Insurance Company (“CGIC”), and Continental General Services, LLC (“CGS”). CIG, CGM, CGIC, and CGS are all wholly owned subsidiaries of Continental General Holdings, LLC (“CGH”).
CGIC is a stock life, accident and health insurance company existing under the laws of the State of Texas and is a licensed insurance carrier in forty-nine states, the District of Columbia, and the U.S. Virgin Islands.
Continental General is an umbrella marketing name for CGM, CGIC, and CGS.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global leader in intelligent insurance software solutions. With Sapiens’ robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. We help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers’ compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a longtime global presence, serving over 600 customers in more than 30 countries with its innovative SaaS offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success. Visit our website at www.sapiens.com
Investor and Media Contact
Yaffa Cohen-Ifrah
Sapiens Chief Marketing Officer and Head of Investor Relations
Email: [email protected]
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein 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 U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. 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 not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related 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 clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic, and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon 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 events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
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Fintech PR
Corinex Ranked Number 331 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500™
Attributes 352% Revenue Growth to expanded product offerings, successful strategic partnerships, and increased demand for grid flexibility solutions in international markets
VANCOUVER, BC, Nov. 22, 2024 /PRNewswire/ — Corinex today announced it ranked 331st on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year. Corinex grew 352% during this period.
Corinex’s chief executive officer, Peter Sobotka, credits the innovative collaboration with E.ON UK, E.ON Group Innovations, and Corinex on the launch of Corinex’s new product portfolio of grid flexibility solutions, and the expansion of its grid visibility solutions across Germany, with driving the company’s impressive revenue growth. This expansion includes partnerships with major Stadtwerke, such as Stromnetz Hamburg and Regensburg Netze, along with recent sales and deployments in the German market. Sobotka remarked, “Corinex presents a significant value proposition by resolving global grid constraints and providing the flexibility needed to scale low-carbon technologies (LCTs). Addressing this issue is essential for utilities, consumers, and providers of low-carbon technologies. It enables the protection of the grid, unlocks rapid revenue and profit growth through accelerated connections of LCTs, and facilitates mass consumer participation, which is critical for advancing worldwide government efforts toward decarbonization. Our solution can be implemented in any regulatory environment and energy market design, and it can be provided as a new system or by retrofitting the existing low-voltage infrastructure. We work directly with our customers and strategically with technology partners, including Accenture and E.ON, to scale our solutions globally and meet the demands of an evolving energy landscape.”
“For 30 years we’ve been celebrating companies that are actively driving innovation. The software industry continues to be a beacon of growth, and the fintech industry made a strong showing on this year’s list, surpassing life sciences for the first time,” said Steve Fineberg, vice chair, U.S. technology sector leader, Deloitte. “Significantly, we also saw a breakthrough in performance of private companies, with the highest number of private companies named to the list in our program’s history. This year’s winners have shown they have the vision and expertise to continue to perform at a high level, and that deserves to be celebrated.”
“Innovation, transformation and disruption of the status quo are at the forefront for this year’s Technology Fast 500 list, and there’s no better way to celebrate 30 years of program history,” said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s Audit & Assurance practice. “This year’s winning companies have demonstrated a continuous commitment to growth and remarkable consistency in driving forward progress. We extend our congratulations to all of this year’s winners — it’s an incredible time for innovation.”
About the 2024 Deloitte Technology Fast 500
Now in its 30th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2020 to 2023.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Corinex
Corinex is a pioneering provider of broadband over power lines (BPL)-based grid visibility and flexibility solutions, enabling the digital transformation of energy distribution systems worldwide. The company’s products accelerate the mass integration of low-carbon technologies (LCTs), automate electricity infrastructure, and transform the grid into a dynamic and intelligent energy system.
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About Deloitte |
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Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms. |
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Fintech PR
Cathay Financial Holdings Advances Climate Finance Leadership at COP29, Championing Public-Private Partnerships and Asia’s Low-Carbon Transition
TAIPEI, Nov. 22, 2024 /PRNewswire/ — Cathay Financial Holdings (Cathay FHC) has been actively participating in the UN’s 29th Climate Conference (COP29), aligning with global efforts to address urgent climate challenges. As the only financial institution from Taiwan to host a conference in COP29’s Blue Zone, Cathay co-host the “Asia Finance Event” with the World Climate Foundation (WCF). This is the fourth consecutive year of COP participation, Cathay FHC leverages this platform to engage with global stakeholders from government, industry, and academia, showcasing Asia’s perspectives in the climate finance dialogue and amplifying Cathay FHC’s influence in international climate action.
The “Asia Finance Event,” emphasized the critical role of climate finance in enabling a global low-carbon transition. Themed “Catalyzing Climate Finance via Public-Private Partnerships: Perspectives from Asia,” the event sought to strengthen collaboration between public and private sectors to create an enabling environment for low-carbon transition in Asia.
The event opened with remarks by Cathay FHC President Chang-Ken Lee, followed by a presentation by Sophia Cheng, Chief Investment Officer of Cathay Financial Holdings. Cheng moderated the event by inviting four panelists providing profound insights. Panelists included Anjali Viswamohanan, Director at the Asia Investor Group on Climate Change (AIGCC); Filipe B. Oliveira, Senior Advisor for Sustainable Energy for All (SEforALL); Hiro Mizuno, former Chief Investment Officer of Japan’s Government Pension Investment Fund (GPIF); and Laila Nordine, Senior Sustainable Finance Manager at the International Finance Corporation (IFC). Together, they discussed strategies and key success factors for accelerating climate finance growth, focusing on public-private partnerships for Asia’s hard-to-abate sectors—such as cement, steel, chemicals, and transportation—and the energy sector’s low-carbon transition. The discussions underscored the need for innovative solutions and partnerships to secure the necessary funding for a successful transition.
In his opening remarks, Lee stated, “This event provides a platform to explore new investment tools and financial models that can multiply climate finance. With profound experience in climate finance and public-private partnerships, the esteemed speakers and candidates’ share their valuable insight. Their expertise undoubtedly will enrich our discussion and inspire actionable solutions for advancing climate finance in Asia and beyond.”
Jens Nielsen, Founder and CEO of WCF, praised Cathay FHC as a model for leadership in sustainability and climate action. Reflecting on their four-year partnership, he commended Cathay FHC’s commitment to bold actions, innovative solutions, and a consistent dedication to sustainable finance, stating, “Cathay FHC has not only advanced its own sustainable practices but also set a benchmark across Asia’s financial industry.”
Cheng outlined the challenges Asia is facing in the low-carbon transition, noting that over 70% of global electricity demand growth is concentrated in Asia, projected to consume half of the world’s electricity by 2025. High-carbon emitting sectors account for over 40% of Asia’s GDP and employment, creating significant green and just transition risks. She emphasized the need for a robust climate finance ecosystem to ensure the transition actions are bankable and investable, highlighting that since Asia’s climate finance largely depends on public funds, effective public-private partnerships are essential to reach the $9 trillion annual global climate finance goal by 2030.
The expert panel addressed Asia’s low-carbon transition from three key lenses. First, on overcoming obstacles to public-private partnerships, Mizuno highlighted that blended finance includes time-consuming and complex designs which deter investors. He noted that standardizing procedures and models, along with involving local experts could save time and enhance investor engagement. Oliveira, despite the net-zero pledges committed by companies, called attention to inconsistencies in the carbon market. He suggested that unified standards for carbon trading could foster greater corporate commitment and accelerate climate finance.
Second, regarding the energy transition and hard-to-abate sectors in Asia, Viswamohanan stressed the importance of clearly-defined goals and timelines set by governments, along with tailored transition pathways for each sector. Nordine added that a just transition requires social safeguards to balance interests and minimize sacrifices, while Mizuno advocated for financial institutions, other than engagement with clients and investees, to work closely with policymakers to establish clear transition pathways.
Third, regarding climate finance through comprehensive public-private partnerships, Nordine called for aligning financing efforts to avoid keeping subsidizing or investing in high-emitting industries while supporting green energy. Cheng concluded that multi-stakeholder climate finance platforms are essential for sharing expertise and fostering actionable projects across governments and the private sectors, driving systemic change. Mizuno echoed this, emphasizing that while sustainable actions are costly, the cost of inaction is far greater, commending Cathay FHC’s leadership in climate finance.
Cathay FHC has a long-standing commitment to sustainable finance through RE100 membership, SBTi-aligned carbon reduction targets, and increased low-carbon investments. In 2024, Cathay joined AVPN and is the anchor sponsor for the Asia’s Clean Energy Transition Initiative launched by AVPN to foster fair and equitable energy transitions across Asia-Pacific.
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SINGAPORE, Nov. 22, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN), a pioneer in digital payment solutions, and Polygon Labs, a software development company building the leading network of aggregated blockchains via the AggLayer, today announced their strategic collaboration aimed at unlocking the full potential of digital finance, focusing on the expansion and adoption of WUSD, WSPN’s flagship stablecoin.
WSPN has integrated Polygon PoS into its WUSD network infrastructure earlier this year. Now, this collaboration will focus on rapidly expanding WUSD adoption. Polygon Labs’s crucial liquidity support will be instrumental in bolstering WUSD’s mass adoption across various markets.
This collaboration will unlock opportunities to explore a range of innovative use cases for stablecoins, payments, and DeFi. Key areas of focus include facilitating payments and tokenization solutions for companies operating in Hong Kong SAR and Singapore, developing on-chain green finance projects tailored for African clients, and building robust DeFi platforms that leverage the strengths of both WSPN and Polygon technologies. These initiatives are strategically designed to address diverse market needs and drive the adoption of WUSD across a variety of regions and sectors.
By combining WSPN’s expertise in stablecoin solutions with Polygon’s advanced blockchain infrastructure, this collaboration will drive significant advancements in the digital asset space, particularly in emerging markets and the rapidly evolving DeFi sector.
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
About Polygon Labs
Polygon Labs is a software development company building and developing a network of aggregated blockchains via the AggLayer, secured by Ethereum. As public infrastructure, the AggLayer will bring together user bases and liquidity for any connected chain, and leverage Ethereum as a settlement layer. Polygon Labs has also contributed to the core development of several widely-adopted scaling protocols and tools for launching blockchains, including Polygon PoS, Polygon zkEVM, and Polygon Miden, which is in development, as well as Polygon CDK.
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