Sapiens Expands its Presence in the UK with Newly Appointed Director of Business Development

CARY, N.C., Jan. 19, 2011 /PRNewswire/ -- Sapiens International Corporation N.V. (Nasdaq and TASE: SPNS) a global provider of innovative insurance software solutions, today announced that it has appointed recently recruited Liz Latter as Director of Business Development for Europe, Africa and Australia to assist in expanding the company's presence in EMEA. Liz brings nearly 20 years of insurance experience gained working with insurers, brokers and software houses.

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With the appointment of Latter, Sapiens continues to successfully deliver on its strategy through executing several steps to meet the goal of becoming a preferred solution vendor in the insurance industry. These steps include a strategic acquisition to strengthen its product portfolio, the expansion of the sales & marketing activities and a rebranding campaign.

A key aspect of Sapiens' goal was put in place with the acquisition of Harcase Software Ltd in April 2010. With the acquisition, Sapiens greatly strengthened its solution portfolio with the addition of the RapidSure Policy Administration suite. Following the acquisition, Sapiens benefits from the addition of a team of insurance industry experts that joined the company as part of the RapidSure integration.

To affirm Sapiens' commitment to become a leader in the market for insurance software solutions, it has launched a new corporate identity that features the tagline "Experience Innovation Insurance", as well as a redesigned logo and collateral. To reinforce the new branding, Sapiens will also be re-launching their website with a new design.

With the successful execution of the above mentioned steps in 2010, Sapiens has seen expanded business with many of its key customers. Among the company's customers, Philadelphia Insurance Companies has successfully deployed the RapidSure Policy Administration solution as the first phase in replacing and improving their policy issuance processes and systems. Development of additional lines is already underway for the second phase of the project. In Australia, Sapiens was selected by Vision Super, a superannuation fund, to migrate its core administration platform to improve the company's overall cost of ownership of its administration system.

As of September 2010, Sapiens has shown 16 consecutive quarters of operational profit.

About Sapiens International

Sapiens International Corporation N.V. is a leading global provider of business solutions for the insurance industry. Sapiens is dedicated to developing innovative insurance solutions for the ever-changing Property & Casualty, Reinsurance, and Life & Pension business environments.  By leveraging innovative technology, open standards and model driven architecture, we help insurers create their competitive advantage. Sapiens operates through its subsidiaries in North America, the United Kingdom, Israel and Asia Pacific. For more information, please visit www.sapiens.com, or contact us at [email protected].

SOURCE Sapiens International Corporation N.V.