Sapiens Acquires North American P&C Solution Provider Adaptik
HOLON,
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"We see this acquisition as a major step in Sapiens' North American strategy and market positioning," said
"We continue to expand in the North American insurance space, a key market for Sapiens' planned growth. To service lower-tier insurance carriers, we acquired Maximum Processing and its Stingray system, followed by the acquisition of
"As part of the Sapiens organization, the Adaptik team and clients will have access to extensive resources and a global network of relationships," said
"In addition to its product portfolio, Adaptik's established, in-production customer base, along with its experienced and talented team, made for an attractive proposition for Sapiens," continued Al-Dor. "P&C providers seeking flexible product configuration will be well-served by our newly constituted P&C platform, offered as a single suite, or as standalone components. Carriers can also choose between a full cloud-based deployment, or the traditional on-premise option. This flexibility will enable carriers to best satisfy their specific financial and operational needs."
Highlights of the Sapiens' P&C platform for
- Pre-defined insurance products and business content
- An insurance data repository and advanced analytics solutions, with initiatives around advanced data management and predictive analytics
- A digital engagement platform, featuring portal, mobile and customer engagement tools
- An insurtech ecosystem with rapid integration capabilities, including pre-integration to leading technologies, such as personalized video, chatbots, artificial intelligence and machine learning-based services
- Open API architecture, with easy and configuration-based integration
- Cloud and software-as-a-service as an emerging and strategic deployment approach
- A robust reinsurance solution
Adaptik Policy is used by agents, underwriters and customers to quote, issue and administer policies. It includes built in integration with third-party systems and provides comprehensive policy lifecycle support for all P&C lines of business. Adaptik Billing enables P&C carriers to integrate with third-party systems and data repositories, enjoy best-in-class usability and automate processes throughout the billing lifecycle. These offerings improve policy administration and billing for commercial, personal and specialty lines of business. StoneRiver Stream® Claims is an underlying platform that prepares P&C carriers to adapt to new business requirements, while streamlining end-to-end claims processing for all personal and commercial lines.
Adaptik's expected non-GAAP full year 2017 revenues were
The transaction is expected to be completed in early
Conference Call
Sapiens management will host a conference call and webcast to review and discuss the Adaptik acquisition, along with preliminary results for full-year 2017 and financial guidance for full-year 2018, on
Please call the following numbers (at least 10 minutes before the scheduled time) to participate:
The live webcast of the call can be viewed on Sapiens' website at: http://www.sapiens.com/investors/presentations-and-webcast/
If you are unable to join live, a replay of the call will be accessible until
A recorded version of the webcast will also be available for three months via the Sapiens website.
About Adaptik
About Sapiens
Our portfolio includes policy administration, billing and claims; underwriting, illustration and electronic application; reinsurance and decision management software. Sapiens' digital platform features customer and agent portals, and a business intelligence platform. With a 30-year track record of delivering to more than 400 organizations, Sapiens' team of over 2,500 operates through our fully-owned subsidiaries in
Investor and Media Contact
Mobile: +1-201-250-9414
Phone: +972-3-790-2026
Email: [email protected]
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