Sapiens’ Insurance platform on Microsoft Azure cloud will enable quick launch of products and accelerate market expansion

ROCHELLE PARK, N.J., May 16, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced that Republic Life, a Caribbean-based company, has gone live with Sapiens CoreSuite for Life & Annuities, and Sapiens Digital Suite hosted on Microsoft Azure cloud.

Sapiens’ solutions enabled Republic Life Insurance to become the first Caribbean insurer to provide a fully digital, direct-to-customer offering. The digital-by-design process allows consumers to acquire life insurance policies, with point-of-sale decisioning, and service their policies through the innovative customer portal. The solution will also allow Republic Life Insurance to launch new products quickly and meet the ongoing administrative needs of customers, ensuring exceptional service, which will accelerate their growth and expansion in the marketplace.

“Our main objective was to disrupt the life insurance market whilst offering an enhanced customer experience and create an entirely digital insurance company. Sapiens’ state-of-the-art, digital insurance platform empowered us to be the first Caribbean insurer to achieve that, and we were able to implement within 11 months,” said Robert Soverall, Managing Director, Republic Life Insurance. “What really stood out is Sapiens’ innovative customer portal and their dedicated implementation and technical support teams who fully share our vision for success.”

“We are delighted to enable Republic Life Insurance to make a historic impact in the Caribbean life insurance market with the region’s first fully online, digital customer experience,” said Roni Al-Dor, Sapiens President & CEO. “This ground-breaking insurance launch exemplifies Sapiens’ commitment to deliver best-in-class solutions and a mutually rewarding team experience. We are confident that Republic Life Insurance has the tools in place to reduce the insurance/protection gap through innovative customer experiences.”

Sapiens DigitalSuite is a comprehensive, cloud-native, future-proof digital engagement suite specifically designed to enable, sustain and grow insurance businesses through its configurable and dynamic, persona-based portals that revolutionize the customer experience. Sapiens CoreSuite for Life & Annuities is a state-of-the-art, digital software solution for end-to-end core operations and processes. An award-winning policy administration system, it supports individual and group products across life, health, wealth & retirement.

About Republic Life Insurance

Republic Life Insurance Company Limited, a subsidiary of Republic Financial Holdings Limited, is responsible for the management and underwriting of the Group’s Life Insurance for personal loans, residential mortgages, and personal credit cards. For more information visit https://republiclifett.com/

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 
Chief Marketing Officer and Head of Investor Relations
Sapiens International 
Email: [email protected] 

Forward-Looking Statements 

Certain 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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LONDON, May 16, 2024 /PRNewswire/ — Lendscape, the market-leading provider of commercial finance technology, today announced the launch of Lendscape CONNECT, a revolutionary solution designed to widen access to invoice finance by removing the traditional barriers involved for lenders and their clients.

Lendscape CONNECT brings together open accounting technology and advanced Shadow Ledger functionality to digitalise and automate the invoice finance operations for banks and lenders, driving down costs while providing improved risk control. Available on the award-winning Lendscape platform, the new solution promises to completely remove the burden of month-end reconciliations, saving lenders up to four hours per client each month.

“Invoice finance can be a cashflow lifeline but has been hindered by complex manual processes that can be cumbersome for lenders to manage, and more intrusive for businesses than alternatives like overdrafts and term loans,” said Carolyn Goddard, Head of Product at Lendscape. “With Lendscape CONNECT, we’ve tackled these issues head-on. Our new solution gives lenders secure, direct access to live data from their clients’ accounting systems and a detailed view of the sales ledger that always aligns with their clients’ records. This eliminates time-consuming month-end reconciliations and removes the client burden of manually uploading debtors and invoices.”

Kevin Day, CEO of Lendscape, remarked, “Lendscape CONNECT is a true game-changer, combining the day-to-day simplicity of invoice discounting with the robust risk control typical of factoring. Lenders are now equipped to offer light-touch, non-invasive invoice finance to a wider range of clients, achieving precise, timely risk management without the need for human intervention.” He added, “We expect that this will enable lenders to strike the optimal balance of cost, risk and service in their invoice finance operations, fostering increased adoption and satisfying market demand. Lendscape has a proven track record of leveraging cutting-edge technology to address the challenges facing the industry, and Lendscape CONNECT is a milestone in enabling simpler, data-led financing.”  

Key benefits of Lendscape CONNECT include:

• Eliminate month-end reconciliations, saving ~ up to 4hrs per client, per month: Automated synchronisation between the lender’s view of the sales ledger and their clients’, eliminating the need for month-end reconciliations and manual disapprovals.
• All the control, none of the hassle: The control of factoring without the manual intervention. Lendscape CONNECT offers instant access to live financial data from clients’ accounting packages, providing the day-to-day simplicity of invoice discounting with the risk controls normally associated with factoring.
• More clients, enhanced risk management: Advanced Shadow Ledger technology offers comprehensive, invoice and debtor-level visibility. Detailed sales ledgers support improved reporting, a wealth of analysis, and granular, timely risk management at scale.
• Improved client experience: Reduces friction for clients, removing the need for cumbersome month-end reconciliations and manual uploads and providing a transparent view of their funding position through the Lendscape Client Portal.

With features including live data access, automated disapproval calculations, and seamless integration with a breadth of third-party services for enhanced reporting and risk management, Lendscape CONNECT is set to redefine invoice finance.

For more information about Lendscape CONNECT and how it can benefit your business, visit www.lendscape.com/platform/connect.

About Lendscape 

Lendscape is the world’s leading technology provider for all forms of secured finance.   

With over 45 years of experience and in-depth industry understanding, our dynamic team has designed, developed, and delivered secured lending technology to over 40 markets and some of the worlds’ most prestigious banking and financial services providers.   

Lendscape supports a range of working capital and asset finance solutions such as factoring, invoice discounting, supply chain finance, asset-based lending as well as asset finance and many other forms of specialist finance.  

To learn more, visit www.lendscape.com. 

Media contact:
Iain Gomersall
[email protected]
+44 20 8187 8905

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Industry innovators G-P and ADP announce enhanced partnership

BOSTON, May 16, 2024 /PRNewswire/ — G-P (Globalization Partners), the recognized leader in the global employment market, and ADP, a leading global technology company providing human capital management (HCM) solutions, announce expanded joint efforts to deliver Global Employer of Record, Contractor and Global Payroll Solutions to organizations around the world.

In today’s business landscape, companies are looking beyond borders to scale and grow. Nearly 70% of business leaders say having employees in multiple countries and leveraging the opportunities of global and remote talent is core to their business strategy according to G-P’s 2023 Global Growth Report. However, navigating global growth is complex with laws and regulations surrounding payroll, labor law, tax code and employment practices specific to individual markets.

G-P delivers the industry-leading employer of record solution and global growth platform, combining SaaS-based, AI-powered technology with the largest team of HR and legal experts in the industry. Expanding collaboration, G-P and ADP will help organizations address the complexities of global growth in a way that meets their unique needs; providing best-in-class EOR, contractor and global payroll solutions that are adaptable to the needs and tech stack of individual organizations.

“Adopting G-P’s best-in-class global growth and employer of record solutions along with ADP’s leading global payroll solutions provides customers with unmatched stability and agility that sets a new standard for the global talent experience,” said Nicole Sahin, founder and CEO, G-P.

Leveraging their respective best-in-class HR technologies for hiring, managing and paying global talent, G-P and ADP will work closely together to provide organizations access to solutions designed to alleviate the financial, HR and legal complexities of global expansion and reduce friction in hiring and managing global talent to simplify the global expansion journey for customers.

“ADP supports over a million clients of all sizes and industries across 140 countries. By combining secure and robust technology with flexible and intelligent services, we help our clients operate more efficiently and effectively as they transform their global operations. We are delighted to partner with G-P to help even more organizations in expanding into new markets and managing their global presence,” said Virginia Magliulo, President of Employer Services International at ADP.

About G-P

G-P is the recognized leader of the global employment industry and has delivered world-class global compliance and workforce products designed to meet the needs of growing companies since 2012. G-P’s global growth platform is driven by the G-P Meridian^™ Suite of SaaS-based global employment products. G-P helps thousands of customers build and manage teams quickly and compliantly in 180+ countries without navigating legal, tax or HR issues.

G-P: Global Made Possible^™

To learn more, please visit: g-p.com or connect with us via Twitter, LinkedIn, Facebook, or check out our Blog.

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