Sapiens partners with Albany Group to provide compliance automation at Lloyd’s of London Market

HOLON, Israel, March 9, 2022 /PRNewswire/ — International Sapiens Society, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced an agreement with Albany Group, which specializes in risk and intelligence, for an automated compliance, risk and regulatory platform that provides a complete third-party supply chain management solution.

The partnership simplifies complex compliance processes that are run on third-party platforms such as Lloyd’s, to efficiently meet stringent industry and regulatory requirements at reduced cost and minimal risk.

“Albany and Sapiens go hand in hand. The combination of our technologies brings real value to our customers, simplifying software integration so that configurable compliance is virtually at the touch of a button,” says Stewart Griffithsco-founder and CEO of the Albany Group.

The solution provides analytics tools for comprehensive monitoring, performance management, and third-party supply chain auditing, saving time while maintaining consistency throughout the process. The combined solution now fills a significant gap in current policy administration and compliance services, with critical business data siled. Tight integration improves automation, resulting in greater productivity and real-time accuracy gains.

“We are extremely excited to partner with Albany Group to transform the user experience of regulatory and compliance solutions that span multiple platforms into a simple, seamless and automated process,” said Roni Al Dor, President and CEO of Sapiens. “Our cohesive solution will support Lloyd’s market players from start to finish, with the highest efficiency available in the market.”

Albany’s Group Conect™ application will be integrated into the Sapiens Lloyd ecosystem, to automate onboarding and access.

About Albany Group

Founded in 2007, Albany Group specializes in risk and intelligence software and is proud to serve some of the biggest names in insurance and financial services. The company is built on decades of insurance, analytics and military industry expertise, focused on delivering the most powerful intelligent risk management platform using pioneering technologies and applications. Albany Group’s mission is to bring customers control, insight and simplicity – to increase efficiency, protect reputations and integrate supply chain regulatory compliance. https://www.albanygrp.com/

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) is enabling the financial industry, with a focus on insurance, to transform and become digital, innovative and agile. Leveraging over 35 years of industry expertise, Sapiens offers a comprehensive insurance platform, with pre-integrated low-code solutions and a cloud-first approach that accelerates customers’ digital transformation. Serving more than 600 customers in 30 countries, Sapiens offers insurers in the property and casualty, workers’ compensation and life insurance markets the most comprehensive set of solutions, from core to complementary , including reinsurance, finance and compliance, data and analytics, digital and decision management. For more information, visit www.sapiens.com or follow us on LinkedIn.

Forward-looking statements

Certain matters discussed in this press release that are incorporated herein 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 US Private Securities Litigation Reform Act of 1995. , which are based on our beliefs, assumptions and expectations, and on information currently available to us. These forward-looking statements can be identified by the use of the words “anticipate”, “believe”, “estimate”, “expect”, “may”, “will”, “plan” and similar expressions. These statements reflect our current views regarding future events and are subject to the risks and uncertainties associated with the pandemic. 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 without limitation: our degree of success in our plans to leverage our global footprint to increase our sales; the degree of our success in integrating companies we have acquired through the implementation of our M&A growth strategy; long development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our long and complex sales cycles, which do not always translate into the realization of revenue; the degree of our success in retaining existing customers or effectively competing for greater market share; difficulties in successfully planning and managing changes in the size of our operations; the frequency of long-term, material, complex projects we undertake that involve complex estimates of project costs and profit margins, which sometimes change along the way; the challenges and potential liability that enhanced privacy laws and regulations pose to our business; occasional disputes with customers, which may negatively impact our results of operations and our reputation; various intellectual property issues relating 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 customers operate; risks associated with our global sales and operations, such as changes in regulatory requirements, large-scale viruses and disease outbreaks such as the recent novel coronavirus pandemic, which adversely affected our operating results, or rate fluctuations exchange; and the risks associated with our principal location in Israel and our status as Cayman Islands business.

Although we believe that these forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or should such risks or uncertainties materialize, our actual results could differ materially from those expressed or implied. understood by the forward-looking statements. Please read the risks discussed under “Risk Factors” in our most recent Annual Report on Form 20-F, to discuss the conditions that we believe could cause actual results to differ materially from those contemplated by forward-looking statements. You should not rely on 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 the future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or occur. Except as required by law, we undertake no obligation to publicly update forward-looking statements for any reason, to conform such statements to actual results or to changes in our expectations.

SOURCESapiens International Corporation

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