Fintech PR
Sapiens Decision Launches Solution to Boost Decision Underwriting Efficiency and Profitability for P&C
Sapiens Decision Underwriting Accelerator elevates straight-through processing and reduces reliance on IT by up to 90%
ROCHELLE PARK, N.J., Oct. 15, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the release of Sapiens Decision Underwriting Accelerator, a cutting-edge solution designed to enhance underwriting efficiency and significantly improve straight-through processing (STP) for Property and Casualty (P&C) insurers. This innovative decisioning solution addresses key industry challenges by driving a substantial increase in STP rates, enabling insurers to optimize their underwriting processes and improve overall profitability.
Sapiens Decision Underwriting Accelerator addresses the needs of P&C insurers to streamline their underwriting processes while maintaining speed and accuracy. Sapiens’ new solution offers significant improvement in STP for high-volume underwriting cases, both for renewals and new policies. By automating complex decision-making tasks and integrating seamlessly with AI and machine learning models, the solution ensures comprehensive risk assessment, accelerating time-to-market and improving cycle times.
Sapiens Underwriting Accelerator empowers business analysts – without the need for coding expertise – to independently author, update, and test decision logic in real-time. This reduces reliance on IT resources by up to 90%, enabling quicker adjustments and optimizing operational efficiency. The solution also provides contextual, plain-language messages that eliminate the need for users to decipher cryptic codes, significantly improving the customer and agent experience.
Underwriting Accelerator also features pre-built decision flows, designed to handle the complexity of state, line of business, and company often found in regional and national carriers. These pre-configured models allow for faster deployment, reducing implementation time and costs for insurers. The solution also extracts decision logic from legacy systems to make embedded logic easy to access, update, and share, enabling insurers to avoid costly infrastructure overhauls while improving their existing underwriting processes.
“Sapiens’ new release empowers the industry to achieve the highest levels of straight-through processing and underwriting efficiency, significantly improving profitability,” said Ilan Buganim, Chief Technology and Information Officer at Sapiens. “Sapiens Decision Underwriting Accelerator leverages no-code tools, pre-configured decision models, and a high-performance engine to enable insurers to make substantial improvements in their combined ratio within a matter of months. Looking ahead, Sapiens plans to expand its decisioning solutions with pre-packaged offerings for the mortgage industry, addressing similar underwriting challenges.”
Sapiens Decision provides end-to-end decision management capabilities from decision logic extraction from legacy code to decision modeling with no code tools, and deployment through Decision-as-a-Service. Sapiens Decision offers a technology-independent solution to fit any architecture, allowing organizations to reuse their existing infrastructure and governance models.
About Sapiens
Sapiens International Corporation (NASDAQ: SPNS) (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.
For more information visit https://sapiens.com or follow us on LinkedIn.
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
Juniper Square to Acquire Forstone Luxembourg to Expand Global Fund Administration Footprint
SAN FRANCISCO, Oct. 16, 2024 /PRNewswire/ — Juniper Square, the leading provider of innovative fund software and administration solutions for the private markets, today announced a definitive agreement to acquire Forstone Luxembourg, a division of Forstone Group, to expand its global fund administration and fund services footprint. The transaction is subject to customary regulatory approvals.
Founded in 2021, Forstone Luxembourg provides fund administration, transfer agency, and other fund services in Luxembourg. The strategic acquisition of Forstone Luxembourg brings additional expertise and an established presence in the European market, which reinforces Juniper Square’s commitment to providing a global and comprehensive suite of services to its clients, enabling them to navigate the complexities of cross-border operations with greater ease and efficiency.
Alex Robinson, CEO and Co-founder of Juniper Square commented, “This acquisition stems from the approach we’ve taken since day one: working closely with our customers to deeply understand their needs and finding new, innovative ways to support them. Our global expansion efforts, which began earlier this year in India, are further strengthened with this acquisition. We’re thrilled to welcome the Forstone Luxembourg team to Juniper Square and bring their deep knowledge and expertise on the Luxembourg market to our clients.” Robinson added, “As we got to know Forstone Luxembourg, it became clear that they share our values, passion, and vision for transforming the private markets, and we’re excited to welcome them to the Juniper Square family.”
Arnaud Brive, Co-founder and Managing Partner of Forstone Luxembourg said, “Juniper Square is making a tremendous impact in the private markets, and their innovative approach sets them apart in the industry. We’re excited to join forces and are confident that together, we will achieve great things.”
Christine Egbert, General Manager for Fund Administration at Juniper Square, who will oversee integrating Forstone Luxembourg’s team, existing client base, and technology stack into the Juniper Square environment, commented, “I joined Juniper Square to help scale a world-class service organization that delivers a truly modern solution to its clients. With the acquisition of Forstone Luxembourg, we can now offer Luxembourg-based administration services to our customers, an important milestone for our company.”
The transition is subject to final regulatory approval, following which Forstone Luxembourg will operate as Juniper Square Luxembourg. The Forstone Group will continue to execute its strategy to service the Luxembourg market by leveraging its expertise in the private markets and real estate sector through core services such as traditional bookkeeping and consulting.
Juniper Square is the leading provider of innovative fund software and administration solutions for the private markets, helping GPs and LPs seamlessly connect and communicate across every stage of the investment lifecycle. From fundraising and onboarding to investor management and fund administration, Juniper Square empowers investment managers to accelerate fundraising, scale operations efficiently, and improve investor satisfaction. With over 2,000 GPs relying on its platform to manage more than 38,000 investment entities, 600,000 LP accounts, and $1 trillion in investor equity, Juniper Square continues to invest in cutting-edge technology. The firm’s focus on mastering data management and leveraging modern solutions delivers a compelling and seamless experience for both fund managers and their LPs. Learn more at https://www.junipersquare.com/.
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Fintech PR
CoinDesk bolsters information services offering with strategic acquisition of CCData and CryptoCompare
NEW YORK and LONDON, Oct. 16, 2024 /PRNewswire/ — CoinDesk, one of the most trusted media, events, indices, and data companies for the global crypto economy, today announced that it has acquired CCData, a U.K. FCA-regulated benchmark administrator and one of the leading providers of digital asset data and index solutions, including its trusted retail site, CryptoCompare, which serves over 300,000 active users. The acquisition significantly scales CoinDesk’s information services and data products, while offering enhanced cross-sell opportunities to CCData and CryptoCompare’s extensive number of institutional and retail clients.
For over a decade, CCData has been providing its institutional-grade data solutions, digital asset index suite, and award-winning research to government, institutional, and retail clients navigating the digital asset ecosystem. The acquisition of CCData’s robust data platform and retail platform CryptoCompare further strengthens CoinDesk’s data offerings, immediately increases subscription revenues, and complements the existing suite of solutions offered by CoinDesk Indices and CoinDesk Media.
“Over the past ten years, CCData has become one of the most respected and reliable data platforms for digital assets, earning the trust of numerous users seeking to understand and leverage their potential,” said Sara Stratoberdha, CoinDesk CEO. “We are thrilled to begin integrating CCData’s high-quality, robust, and trusted data platform and retail suite across CoinDesk’s existing products and services to unlock greater opportunities for our customers.”
“We are incredibly excited to join forces with CoinDesk as we embark on the next chapter of CCData’s journey,” said Charles Hayter, CEO and Co-Founder of CCData. “CoinDesk is an integral pillar of the digital asset sector, from its award-winning journalism to flourishing index business. I am deeply proud of what CCData and CryptoCompare have accomplished over the past decade, and with CoinDesk as our partner, I’m confident that we will continue to build a legacy that supports and empowers our clients and the broader crypto industry.”
CoinDesk business update
Since 2014, CoinDesk Indices has been at the forefront of the digital asset revolution, empowering investors globally with tens of billions of dollars in benchmarked assets. Flagships such as the CoinDesk Bitcoin Price Index (XBX) and the CoinDesk 20 Index set the industry standard for measuring, trading, and investing in digital assets. Since launching in January 2024, the CoinDesk 20 perpetual futures contract has attracted substantial institutional interest, driving a trading volume of over $8 billion.
CoinDesk Media provides news, analysis and real-time insights on digital assets and blockchain technology and holds large-scale conferences for industry professionals. CoinDesk Media’s products and services reached an estimated audience of 45.5 million people during the first half of 2024. The Consensus conference, one of the world’s largest and longest-running digital asset events, attracted over 15,000 registrations in 2024. Consensus Hong Kong and Consensus Toronto will take place on February 18-20 and May 14-16 in 2025, respectively.
Advisor
Morgan, Lewis & Bockius LLP served as legal advisor to CoinDesk on the transaction.
Media contacts
CoinDesk
CCData
About CCData
CCData is an FCA-regulated benchmark administrator and global leader in digital asset data, providing institutional-grade digital asset data and settlement indices. By aggregating and analyzing tick data from globally recognised exchanges and seamlessly integrating multiple datasets, CCData provides a comprehensive and granular overview of the market across trade, derivatives, order book, historical, social, and blockchain data.
To learn more about CCData, go to: www.ccdata.io.
About CoinDesk
CoinDesk is one of the most trusted media, events, indices, and data companies for the global crypto economy. CoinDesk Indices offers expertise in digital asset indices, data, and research to educate and empower investors. Since 2013, CoinDesk Media has led the story of the future of money and investing, illuminating the transformation in society and culture that comes with it. Our award-winning team of journalists delivers news and unparalleled insights that bring transparency, comprehension, and context. CoinDesk Events gathers the global crypto, blockchain, and Web3 communities at annual events such as Consensus, the world’s largest and longest-running crypto festival.
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Fintech PR
HGC Global Communications Launches Data Center Interconnect Clusters to Transform Connectivity Across Asia
HONG KONG, Oct. 16, 2024 /PRNewswire/ — HGC Global Communications Limited (HGC), a fully-fledged ICT service provider and network operator with extensive global coverage, is pleased to announce the launch of Data Center Interconnect (DCI) clusters in key mature and emerging data hubs across Asia. This strategic initiative aims to elevate exceptional in-country and inter-country connectivity, providing enterprise solutions specifically designed to meet the evolving demands of the globe digital landscape.
HGC as the Leading Operator in Establishing In-Country DCI Clusters Across Asia
HGC’s expertise in navigating the criteria shaping the digital transformation of emerging hubs in Southeast Asia has enabled the successful launch of DCI in key locations such as Malaysia, the Philippines and Thailand. Coupled with mature hubs in Hong Kong and Singapore, this initiative forms an extensive DCI infrastructure that connects major data centers across Asia. HGC fully manages well-established infrastructure and local expertise in each location within DCI cluster, ensuring low latency and a swift mean time to recovery (MTTR). With over 30 years of experience, the HGC team in Hong Kong headquarters will provide comprehensive support to regional operations while enhancing local services. The DCI clusters will be offered to our carriers partners, combining to their networks enhancing its strength and integration to their DCI infrastructure. By combining experienced headquarters support with local expertise, HGC is dedicated to further elevating and uplifting its service offerings.
Expanding Inter-Country Connectivity: HGC’s Unique Proposition in Regional DCI Clusters
Building on HGC’s In-Country DCI clusters, the company presents a unique proposition within the regional DCI landscape across Asia. This strategic advantage allows HGC to deliver diverse and flexible cross-country DCI services, facilitating seamless access for customers from Africa, Americas, Europe and the Middle East who are looking to enter the region.
With extensive experience in expanding international markets, HGC’s well-trained team excels at managing unexpected incidents. In such situations, HGC is equipped to provide alternative services for affected clients, utilizing its extensive global connections.
HGC’s Connectivity Solutions: Navigating the Digital Transformation
In response to increasing demand of AI and other emerging applications in the digital era, there is a heightened need for robust connectivity. Leveraging HGC’s strengths in both In-Country and inter-country presences, the company is ideally positioned to provide a variety of customized low-latency cross-border connectivity, ICT services, and cybersecurity solutions, all built on a robust regional DCI fabric. These connectivity services include Eyeball-as-a-Service, IP-related services, and AMS-IX – the internet exchange solution.
Ravindran Mahalingam, Senior Vice President, International Business of HGC said: “We are eager to showcase HGC’s DCI clusters which we believe will perfectly meet the digital transformation needs of enterprises. Our unique strengths in Asia, combined with our global reputation and network, position this solution to effectively address the challenges of shifting the emerging economies to modernize inclusively in the rapidly digitalising era.”
About HGC Global Communications Limited
HGC Global Communications Limited (HGC) is a leading Hong Kong and international telecom operator and ICT solution provider. The company owns an extensive network and infrastructure in Hong Kong and overseas and provides various kinds of services. HGC has 21 global offices and staff presence in 33 cities worldwide. It provides telecom infrastructure service to other operators and serves as a service provider to corporate and households. The company provides full-fledged telecom, data centre services, ICT solutions and broadband services for local, overseas, corporate, SME and mass markets. HGC owns and operates an extensive fibreoptic network, five cross-border telecom routes integrated into tier-one telecom operators in mainland China and connects with hundreds of world-class international telecom operators. The company is committed to further investing and enriching its current infrastructure and, in parallel, adding on top the latest technologies and developing its infrastructure services and solutions. In 2019, HGC Group completed the acquisition of Macroview Telecom Limited (Macroview), a leading digital technology solution and managed services provider. The addition of Macroview further accelerates HGC Group’s digital transformation path and positioning as a pioneering ICT and digital services leader. HGC is a portfolio company of I Squared Capital, an independent global infrastructure investment manager focusing on energy, utilities, transport, social infrastructure, digital infrastructure, and environmental infrastructure in North America, Europe, Latin America and Asia.
To learn more, please visit HGC’s website at: www.hgc.com.hk
View original content:https://www.prnewswire.co.uk/news-releases/hgc-global-communications-launches-data-center-interconnect-clusters-to-transform-connectivity-across-asia-302277733.html
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