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FOR ADDITIONAL INFORMATION
Lauri Hanover John W. Heilshorn, Jr./Jody Burfening
Chief Financial Officer Lippert/Heilshorn &
Sapiens International Associates Inc.
Tel: +1-877-554-2426 Tel: +1-212-838-3777
+972-8-938-2701
E-mail: [email protected] E-mail: [email protected]
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SAPIENS AUTOMATES E-BUSINESS INTELLIGENCE PROCESSING AND PARTNER INTEGRATION
FOR THE SURPLUS LINE ASSOCIATION OF CALIFORNIA
Advisory Organization Awards $1.2 Million Contract to Sapiens, which will
utilize its eMerge Solution and Extensive Domain Expertise
Research Triangle Park, NC--August 17, 2000--Sapiens International Corporation
N.V. (NASDAQ: SPNS), a global e-business solutions provider, today announced a
strategic agreement with The Surplus Line Association of California ("SLA") to
re-engineer its insurance intelligence procedures, business information flow and
financial evaluation process, using Sapiens' eMerge solution. This enhancement
to SLA's Processing System will eventually result in significant savings for
California insurance consumers by minimizing insurance fraud.
Sapiens has already begun to implement a centralized system for SLA that refines
its infrastructure and optimizes business processes. The solution, which is
based on Sapiens' eMerge technology, enables SLA staff and its partners to
easily modify and adapt to new legislative changes, efficiently capture policy
information, and improve information retrieval and reporting capabilities.
"The Surplus Line Association identified Sapiens as a highly respected solutions
provider with extensive insurance expertise and an impressive client list," said
Ted Pierce, Executive Director, The Surplus Line Association. "We are also
impressed with Sapiens Professional Services' project management skill set.
Their unique methodology included SLA's technical staff and end-users throughout
the process, reducing over-all deployment time."
Mr. Gil Arbel, Sapiens' Executive Vice President, Americas, added: "Due to the
nature of stringent statutory and regulatory requirements, SLA needed a solution
supplier with a deep understanding of the insurance industry in order to do a
comprehensive strategic analysis and design around its environment. Sapiens is
pleased to deliver this mission critical solution to SLA, and will expend every
effort to achieve both technical and business operating efficiencies for them.
The Sapiens team will work closely with SLA management and staff to improve
information flow and evaluation processes."
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About Sapiens
Sapiens International (NASDAQ: SPNS) is a global e-business solutions provider.
Sapiens delivers strategic end-to-end solutions that enable customers to
capitalize on their IT assets in the transition to e-business. Sapiens'
e-commerce solutions, such as eMerge Loan, eMerge Insure and eMerge Supply
Chain, as well as its cross-industry offerings, such as eMerge and
EuroMigration, apply new business models and processes in the emerging, dynamic
world of e-business and help clients meet the challenges of euro migration and
reengineering. Applying proven technologies, Sapiens ensures fast time-to-market
and responsiveness to change.
Sapiens serves its growing customer base directly and through partnerships with
such industry leaders as Cap Gemini, CSC, IBM and KPMG. The Company's installed
base of customers includes 3M, Air France, Argos, Bosch, Groupe Andre, Honda,
IBM, International Paper, Principal Financial and Siemens Energy and Automation
and other multinational corporations.
You are invited to visit us on the World Wide Web at http://www.sapiens.com.
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Except for historical information contained herein, the matters set forth in
this release are forward-looking statements that are dependent on certain risks
and uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
company's accounting policies and other risk factors detailed in the Company's
SEC filings.
