CARY, N.C., April 11, 2011 /PRNewswire/ -- Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a global provider of innovative insurance software solutions and a member of the Formula Group (NASDAQ: FORTY and TASE: FORT), announced today that a new version of INSIGHT for Reinsurance, the company's reinsurance software solution for reinsurance, is now available.
Sapiens INSIGHT for Reinsurance v5 allows greater audit and control capabilities, and helps insurers to adhere to the latest SOX and Solvency II directives. The new release includes added functionality, significant business enhancements and a broader platform support, that provide insurers with greater control of their financial management and accounting and more technology flexibility.
Highlights of the new release include:
- Improved authorization and control
- Additional out-of-the-box reports and inquiries
- An extension and enrichment of the data warehouse, enabling insurers to self-produce additional reports
- Convenient management of reinsurer and broker accounts, with respect to reconciliation activities and granularity of amounts
- Multi-platform and database agnostic
Martin Greenberg, Reinsurance Product Manager, added: "Our continued investment to provide a comprehensive reinsurance business solution demonstrates Sapiens' commitment to becoming the insurance industry's preferred software solution provider." Greenberg continued, "Sapiens' deep understanding of insurers' reinsurance needs is a key driver of our product development roadmap. Our customers, including some of the leading carriers, already enjoy the enhancements of the new release."
About Sapiens International
Sapiens International Corporation N.V. is a global provider of business solutions for the insurance industry, helping modernize business processes and enabling insurance organizations to adapt quickly to change. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific. For more information, please visit www.sapiens.com.
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, specific system configurations and software needs of individual customers and other risk factors detailed in the Company's SEC filings.
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Osnat Segev-Harel, CMO
SOURCE Sapiens Technologies