Tokio Marine Highland chooses Sapiens to accelerate the transformation of its claims

Sapiens cloud claims solution will provide Tokio Marine Highland agility, efficiency and functionality, while reducing overall costs

RALEIGH, North Carolina, September 22, 2021 / PRNewswire / – Sapiens International Company (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced an agreement with Tokyo Marine highlands, a leading property underwriting agency, to be implemented Sapiens ClaimsPro, which is part of Sapiens CoreSuite for property and casualty insurance. Tokyo Marine Highland The decision to implement the solution from Sapiens follows the successful implementation of their building book using Sapiens PolicyPro and Sapiens BillingPro.

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Tokyo Marine highlands, formerly WNC Insurance Services, offers a wide range of specialist risk management solutions, including private flood, construction, fine art and specialty property products. Tokyo Marine highlands made the strategic decision to complete the transformation of its company-wide insurance platform with Sapiens ClaimsPro, an integral part of Sapiens CoreSuite for IARD. The company’s modernization plan includes core transformation and digitization of their processes to improve their customer experience and enable rapid growth.

“Sapiens has once again been able to demonstrate the benefits of enhanced grievance capabilities and as a result we are delighted to extend our growing partnership. Speed ​​to market is a key factor for Tokio Marine Highland. The Sapiens ClaimsPro platform is a natural fit that provides the capabilities we need to work efficiently and transparently with our brokers and agents, ”said Kiran achen, Chief Information Officer for Tokio Marine Highland. “We appreciate Sapiens’ continued investment in modern, integrative and self-sufficient core insurance technology, as well as its investment in eco-partnerships that support our businesses and bring us more innovation.

“Our sales team has now engaged with our Combined Sapiens / Tokio Marine Highland Implementation Team and is making solid progress in delivering a feature-rich and modern complaints platform that will be a key tool as we go. and as we grow our business, “said Jeff Garretson, claims manager for Tokio Marine Highland.

“The strategic partnership between Tokio Marine Highland and Sapiens has laid the foundation for significant growth,” said Jamie yoder, President and CEO of Sapiens North America. “The completion of the Sapiens CoreSuite enterprise platform will be of great benefit to Tokio Marine Highland’s business operations, meeting current industry demands and preparing them for the future.”

Sapiens ClaimsPro’s cloud solution provides fundamental claims transactions, workflow, tasks, schedules and management functions. ClaimsPro is a modular solution that can be implemented with other modules or stand-alone. It offers robust capabilities, including a rich feature set of claims management reporting, as well as interactive dashboards and robust integration capabilities into third-party services.

One of the main benefits that ClaimsPro offers to Tokio Marine Highland is that the solution enables information partitioning for agents and brokers, as well as workload balancing and integration with the PolicyPro / BillingPro platforms of the United States. ‘business. The solution provides full lifecycle support for claims processing for all areas of personal and business lines of business, including workers compensation.

About Tokio Marine Highland

Tokyo Marine highlands is a leading underwriting agency in property and casualty insurance providing distinct solutions for private property flood, construction, fine art and specialty properties, and includes Precise Adjustments, a wholly owned subsidiary that provides capabilities peak claim.

Founded in 1962, Tokio Marine Highland Insurance Services, Inc. (formerly WNC Insurance Services, Inc.) is a wholly owned company of Tokio Marine Kiln, one of Lloyd’s of London insurance market, rated A (Excellent) by AM Best for its financial strength, and member of the Tokio Marine Group. Tokyo Marine Highland home office is located in Chicago, Illinois, with operating centers in Dallas, Texas, Irvine, California, Miami, Florida, Naperville, Illinois, and South Pasadena, California.

For more information, visit our website at www.tokiomarinehighland.com.

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) enables the financial sector, with an emphasis on insurance, to transform itself and become digital, innovative and agile. Drawing on over 35 years of industry expertise, Sapiens offers a comprehensive assurance platform, with pre-integrated, low-code solutions and a cloud-based approach that accelerates customers’ digital transformation. Serving more than 600 clients in 30 countries, Sapiens offers insurers in the non-life insurance, workers’ compensation and life insurance markets the most complete set of solutions, from the heart 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 addressed in this press release which 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, as well as the information currently available to us. These forward-looking statements can be identified by the use of the words “anticipate”, “believe”, “estimate”, “expect”, “may”, “do”, “plan” and similar expressions. Such statements reflect our current views regarding future events and are subject to pandemic risks and uncertainties. There are significant factors that could cause our actual results, activity levels, performance or achievements to differ materially from the results, activity levels, performance or achievements expressed or implied by forward-looking statements, including, but not limited to not limited to: degree of success in our plans to leverage our global footprint to grow our sales; degree of success in integrating the companies we have acquired through the implementation of our M&A growth strategy; the long development cycles of our solutions, which may frustrate our ability to generate revenue and / or profit from our potential new solutions; our long and complex sales cycles, which do not always result in revenue generation; 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 the complex projects we carry out that involve complex estimates of project costs and profit margins, which sometimes change halfway; the challenges and potential liability that increased privacy laws and regulations pose to our business; occasional disputes with clients, 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 systems or those of our customers; risks associated with the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, viruses and large-scale epidemics such as the recent novel coronavirus pandemic, which adversely affected our operating results, or fluctuations in the rates of change; and the risks associated with our primary location in Israel and our status as Cayman Islands business.

Although we believe that these forward-looking statements are based on reasonable assumptions, if one or more of the underlying assumptions prove to be incorrect, or if such risks or uncertainties materialize, our actual results may differ materially from those expressed or under- understood by forward-looking statements. Please read the risks discussed under “Risk Factors” in our most recent Annual Report on Form 20-F, in order to review the conditions which we believe could cause actual results to differ materially from those anticipated in 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 future results, levels of activity, performance and the events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we do not undertake to publicly update forward-looking statements for any reason, to conform such statements to actual results or to changes in our expectations.

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