Fintech PR
Society Insurance Selects Sapiens to Automate and Transform its Reinsurance Processes
Sapiens’ reinsurance management solution to improve efficiency, expand capabilities for complex structure management, and mitigate claims leakage
ROCHELLE PARK, N.J., Aug. 12, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that Society Insurance, a leading U.S. niche insurance provider, has selected Sapiens ReinsurancePro to increase efficiency, streamline financial reporting, and minimize claims leakage.
Society’s decision to select a cloud-based reinsurance system was prompted by the need for an automated, out-of-the-box reinsurance solution to manage their entire reinsurance program and centralize data into a consolidated repository to easily run queries and access reports.
Sapiens’ solution stood out from potential vendors for its broad range of capabilities to support reinsurance accounting and cash management, while complying with auditing and statutory requirements. Sapiens’ flexible, configurable offering will enable Society to calculate its ceded paid, reserve and incurred metrics, and adapt quickly to future changes in treaty terms.
“We look forward to the new opportunities Sapiens is providing to streamline our reinsurance management program and boost efficiencies across our organization,” said Thomas Schwefel, Society Insurance Vice President – Finance & Treasurer. “We are confident that Sapiens’ core team of experienced reinsurance professionals will ensure the success of our implementation strategy.”
“We are pleased to partner with Society Insurance on their strategy to implement a streamlined reinsurance solution,” said Roni Al-Dor, Sapiens President and CEO. “Sapiens ReinsurancePro empowers Society with full financial control of the reinsurance processes, simply and efficiently.”
Created and designed exclusively for the reinsurance market by some of the industry’s leading experts, Sapiens ReinsurancePro efficiently automates the underwriting and administration of reinsurance, including treaty and facultative, ceded, assumed, and retroceded reinsurance.
About Society Insurance
Headquartered in Fond du Lac, Wis., Society Insurance has been a leading niche insurance carrier since 1915. Society focuses on the small details that make a big difference to its policyholders while offering top-notch insurance coverage, service and competitive pricing to businesses in Wisconsin, Illinois, Indiana, Iowa, Minnesota, Tennessee, Colorado, Georgia and Texas.
Learn more at www.societyinsurance.com
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
May River Capital Acquires Cashco as its First Investment in a New Flow Control Solutions Platform
CHICAGO, Nov. 13, 2024 /PRNewswire/ — Cashco, a provider of highly-engineered pressure management solutions such as regulators, control valves, and tank safety equipment, today announced that it has been acquired by May River Capital (“May River”), a Midwest-based private equity firm focused on helping high-caliber industrial businesses grow and prosper.
Founded in 1920, Cashco is a well-established and trusted provider of efficiency- and safety-focused flow control products. Headquartered in Ellsworth, Kansas, with operations in Houston, Texas, and outside Berlin, Germany, Cashco is known for its deep application experience, breadth of product offerings, heightened product quality, and aftermarket service offerings. Cashco has strong relationships with blue-chip end-users, value-added representatives, distributors, and engineering, procurement, and construction firms globally. Cashco’s products offer customers mission-critical accuracy, reliability and safety in process flow control in diverse industries, including industrial gas, specialty chemicals, pharmaceuticals, food & beverage, semiconductor, alternative fuels, and petrochemicals, among others.
Under the leadership of President Clint Rogers, Cashco has achieved impressive growth over the past several years and is well-positioned to benefit from industry tailwinds in the diverse industries it serves. Rogers and the entire Cashco leadership team will continue to lead the organization in their current roles.
“We are proud of our heritage, brand, and values at Cashco, and are excited to partner with May River as we embark on the next phase of growth,” Rogers said. “May River has significant industrial sector focus along with deep financial and operational resources, which will allow us to continue to support our customers globally.”
Rahul Deshmukh, May River’s operating executive, will transition to CEO and executive chairman of Cashco.
“Cashco represents a high-quality business to serve as a growth platform for May River,” Deshmukh said. “We are delighted to partner with Clint Rogers and his experienced leadership team to drive growth and innovation in the business. We are committed to significant investment to build out this platform in the coming years, both organically and through M&A activity.”
Phil Ramsbottom, Principal at May River, said, “This strategy represents our fourth platform in the flow control sector, our deepest area of experience. Cashco’s leadership has built a tremendous foundation from which we plan to grow through further investments in new products, new markets, and complementary add-ons. We are excited to partner with Rahul, Clint, and the balance of the team to better serve Cashco’s loyal base of global customers.”
Paul Hastings LLP and BMO Capital Markets served as legal counsel and financial advisor to May River, respectively. Houlihan Lokey served as financial advisor to Cashco. BMO Harris Bank provided debt financing in support of the acquisition.
About Cashco
Cashco is a well-established designer, manufacturer, and servicer of a broad line of industrial control products. Products include regulators, control valves, controllers, pressure/vacuum relief vents, and flame and detonation arrestors. Cashco services customers in industries including industrial gas, chemicals, terminal storage, electronics, and food and pharmaceuticals, through a worldwide network of offices and representatives. For more information, please visit www.cashco.com.
About May River Capital
May River Capital is a Chicago-based private equity firm focused exclusively on partnering with lower middle-market, industrial growth businesses. May River invests in high-performing companies in such sectors as advanced manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution services. For more information, please visit www.mayrivercapital.com.
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Fintech PR
Laconic and the Plurinational State of Bolivia announce landmark 5 Billion USD Sovereign Carbon Transaction
CHICAGO and LA PAZ, Bolivia, Nov. 13, 2024 /PRNewswire/ — Laconic Infrastructure Partners Inc. (Laconic), announced today that it has been mandated by the Plurinational State of Bolivia to utilize its SADAR™ Natural Capital Monetization (NCM) platform to provide technology transfer in support of Bolivia’s capacity building initiatives as it seeks to finance the enhanced ambition set forth in its Nationally Determined Contribution (NDC).
By using Laconic’s first-of-its-kind carbon securitization platform, multiple large-scale environmental data streams will be aggregated to monetize up to 5BN USD of Bolivia’s present & future carbon stocks in the world’s first Article 6 compliant benchmark Sovereign Carbon sale.
“The Plurinational State of Bolivia is committed to completely ending deforestation within our territorial borders by 2030”, said Marcelo Montenegro Gomez Garcia, Minister of Economy & Public Finance. “By working with Laconic, we have been able, for the first time, to generate sufficient development financing to enable our country to make this commitment a reality and enhancing our ambition under the Paris Agreement. This benefits not only our own citizens, but all of mankind, as we collectively strive to meet NetZero 2050.”
By creating its unique Sovereign Carbon product, Laconic has revolutionized financial intermediation in the global carbon market by allowing carbon to be traded as a true financial asset for the first time. This capability allows governments to efficiently monetize their natural capital assets by issuing bona fide securities to institutional buyers at scale globally.
The Sovereign Carbon market is the only mechanism capable of generating the 1 Trillion USD of carbon trading required annually for mankind to achieve its collective NetZero pledge.
Laconic’s unique technology platform, SADAR™, works continuously to manage the data streams which the Sovereign Carbon product requires – ensuring compliance with the not only the Paris Agreement itself, but all applicable local and regional regulatory authorities governing the carbon market. Governments rely on Laconic to ensure seamless compliance with their treaty commitments, allowing them to focus on further enhancing their NDC ambitions and accelerating the pace of global decarbonization.
“Laconic is honored to be working with the Plurinational State of Bolivia to champion the innovative Sovereign Carbon market”, said Andrew Gilmour, CEO of Laconic. “This transaction demonstrates the power of technology to drive change in emerging markets finance, as, for the first time, we are able to collectively harness market forces to generate more economic growth from the preservation of natural capital assets than from the exploitation of them. Put simply – our technology has made it possible to make more money preserving your forests than you can by cutting them down.”
About Laconic
Laconic delivers accurate environmental intelligence, data management tools, and geospatially-fused insights that enable governments, corporations, and financial institutions to engage fairly in data interchange activities that facilitate open and compliant capital markets activity in carbon-linked instruments.
Founded in 2021, the company is a Public Benefit Corporation (PBC) headquartered in Chicago, with offices in Toronto, London, and Singapore.
For more information, please visit www.laconicglobal.com.
Laconic and SADAR (Sentient All-Domain Augmented Response), LUEI, and LUCID are trademarks or registered trademarks of Laconic Infrastructure Partners Inc. in the U.S. and other countries. All other names are trademarks or registered trademarks of their respective companies.
Media contacts:
Laconic
Brant Pinvidic
[email protected]
Elke Heiss
[email protected]
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Fintech
Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation
Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.
1. European Fintechs Face Regulatory Pressures Amid New Investment Surge
The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.
Source: Financial Times
2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push
Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.
Source: Yahoo Finance
3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East
Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.
Source: Fintech Global
4. Apollo Global Management Invests in Fintech for Private Offerings Support
Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.
Source: Bloomberg
5. Juniper Research Names 2025’s Future Leaders in Fintech
Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.
Source: Globe Newswire
Conclusion
The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.
The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.
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