Latest version enhances operational efficiency, regulatory reporting, and strategic decision-making with robust business insights

ROCHELLE PARK, N.J., April 25, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of its latest version of Sapiens ReinsuranceMaster.

The new release of Version 9 brings a multitude of enhancements and technology stack updates, designed to empower insurers and reinsurers with robust, enriched functionality to support business requirements. This includes automating global inter-company retrocession, facilitating U.S. NAIC statutory reporting (Schedule F), and real-time reinsurance allocation support (‘reinsurance as a service’).

The latest release offers a multitude of enhancements, with one of the standout features being the seamless integration of Sapiens Intelligence with Sapiens ReinsuranceMaster. This integration empowers users with advanced data capabilities and actionable insights through out-of-the-box reinsurance reports and analytics of the reinsurance portfolio’s performance.

In addition, the new release brings significant improvements to the user experience, with a revamped user interface, enhancements in processing performance through improvements and parallel processing mechanisms, improved scalability and operability. 

“With the growing significance of reinsurance in today’s volatile environment, our latest version of Sapiens ReinsuranceMaster with Sapiens Intelligence offers even greater value to insurers and reinsurers, catering to the ever-changing demands of this dynamic market,” said Roni Al-Dor, Sapiens President & CEO. “Leveraging the shared experience from our other products as well as requirements from our global client base, the solution is now very well-positioned to support global automation of complex reinsurance programs and provide management with insights into reinsurance performance as well as statutory reporting.”  

Sapiens ReinsuranceMaster is a comprehensive, single platform for large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.

Sapiens Intelligence, now a fully integrated component of Sapiens ReinsuranceMaster v.9, produces actionable insights to maximize the value of data and KPIs for smarter decision making, improving reinsurance business management.

About Sapiens  

Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. 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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Inaugural Wealth Report survey offers insight on the wealthy, their passions, and protecting what matters

LONDON, April 25, 2024 /PRNewswire/ — Extreme weather, the competitiveness of the U.K. economy, and challenges to building and preserving wealth: these are among the top concerns of the U.K.’s highest earners.  Yet many of the most damaging threats on the minds of the wealthy are much closer to home. More than seven in 10 (71%) said that damage during renovations was the greatest risk to their homes, while half are worried about exposure to extreme weather due to climate change.

These are some of the key findings of the inaugural Wealth Report from Chubb, which gauges perceptions of affluent people about their passions, mindset about wealth, and the risks they face in protecting what matters most to them.

Stephen Vaughan, Chubb’s Head of Personal Risk Services in Europe, said: “In places where there is less available space, such as London and the home counties, more people are building subterranean living spaces, sometimes going down three or four stories. Such renovations entail significant changes to the floor plan and often increases the risk of flooding. The Wealth Report provides an insightful lens into the concerns and pressures the affluent are facing in the U.K. It shows a shift in how they value and invest their wealth, who they seek advice from to protect it, and what keeps them up at night.”

Theft is a primary concern. Nearly nine in 10 respondents (86%) said that theft is the primary worry when it comes to their collections, with many believing social media exposure is making them more of a target for thieves. “Watch thefts have risen dramatically,” said Vaughan. “It is really important for collectors to think about their surroundings and whether they really want to wear their most expensive pieces in places where they are hard to protect.” 

Eight out of 10 respondents are collectors of fine art, jewellery, watches, cars, wine and other valuables. More than six in ten (62%) say they have a passion for what they collect, while 38% see it primarily as an investment.

Building wealth is now more challenging than ever before. Half of the U.K.’s most affluent do not yet consider themselves wealthy, and 72% say that affluence, upward mobility and prosperity are out of reach for middle-income families. Survey respondents are also working harder to keep their wealth: the majority (68%) are working, and 39% say they would prefer never to retire.

What keeps successful people up at night? Competitiveness of the U.K. economy was perceived as the greatest risk to affluent individuals’ wealth and lifestyle, with over three quarters (77%) of respondents identifying this as a top concern. Government spending, and conflicts between global powers, were also issues that 35% of respondents said kept them up at night.

The complete Chubb Wealth Survey report findings can be found here.

Chubb Wealth Report Survey Methodology

Findings are based on a survey of 350 high net worth individuals in the United Kingdom, conducted by iResearch Services in September and October 2023 on behalf of Chubb Personal Risk Services. Respondents have a net worth from £1 million upwards. Participants reside predominately in London and surrounding suburbs.

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 40,000 people worldwide. Additional information can be found at: www.chubb.com.

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PARIS, April 25, 2024 /PRNewswire/ — Trakx, an emerging global fintech company providing thematic Crypto Tradable Indices (“CTIs”), today announced the launch of the Trakx USDc Earn CTI powered by OpenTrade that is designed to allow users to easily generate high risk-adjusted returns on their USDc backed by US Treasury Bill yields.

With the USDc Earn CTI, Trakx offers a unique instrument that seamlessly earns US Treasury Bills (T-Bills) like returns, while the assets are securely managed through OpenTrade’s bankruptcy remote structure.

USDc holders on Trakx can now maximize the value of their USDC holdings by investing in Trakx USDc Earn CTI to earn stable, predictable yield, backed by real world financial assets, all through the existing Trakx interface.The product will be available as a standard CTI on the Trakx platform but can also be customised based on specific needs and requirements.

Trakx’s partnership with OpenTrade is a case study in how France is emerging as a regional hub for digital asset companies that want to build products in an innovation-forward regulatory and business environment. As a French regulated Digital Asset Service Provider, Trakx exemplifies how digital asset firms are integrating traditional and digital asset finance in a secure and consumer-friendly manner.

Jeff Handler, Co-founder & Chief Commercial Officer of Opentrade comments, “The USDc Earn CTI is a great example of how RWA-backed yield products can drive value for users by providing them with the option to easily generate high risk-adjusted returns on idle balances in a way that is truly seamless and highly secured. We’re thrilled to have been able to work with Trakx on this solution, and look forward to seeing the growth of this product.”

Lionel Rebibo, CEO and founder of Trakx stated: “This initiative marks a pivotal moment as we are now offering a product that is at the intersection of both the digital and traditional worlds. USDc holders will soon be able to seamlessly transform their dormant assets into a reliable source of revenue. By investing in the USDc Earn CTI, clients will enjoy competitive returns comparable to other products, such as DeFi, while benefiting from the security offered by traditional finance.”

About Trakx
Trakx is a global fintech company creating new standards for digital asset investments. Through their trading platform, they offer thematic Crypto Tradable Indices (CTIs) and customised solutions, providing sophisticated investors a high degree of compliance, custody and liquidity. Trakx is registered with the French regulator (AMF). For more information, please visit us online at www.trakx.io

About OpenTrade
OpenTrade is an institutional grade platform for on-chain lending and yield products. OpenTrade’s platform allows FinTechs building next generation digital dollar apps to offer users yield products backed by high quality liquid assets in a way that is seamless, secure, and compliant. OpenTrade’s global customers can offer the world’s most accessible US Dollar- and Euro-denominated yield products with the click of a button, and the security guarantee of a bankruptcy remote, time-tested legal framework.

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