Sapiens signs L&P Agreement with Preneed Life Insurance Provider in North America

HOLON, Israel, Feb. 11, 2014 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry with an emerging focus on the broader financial services sector, announced today that a leading provider of preneed insurance has chosen Sapiens ALIS Policy Administration System.

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The company has licensed Sapiens ALIS to support its businesses in North America. Sapiens will support the implementation of ALIS and migration of policies onto the Sapiens ALIS platform. This is a multi-phased project and is expected to follow with ongoing maintenance and support.

"We are pleased to have another major insurer join the growing family of Sapiens ALIS users and to help us further enhance our offering to serve the Preneed markets," said Roni Al-Dor, Sapiens President and CEO. "After completing the evaluation and planning phase of the project we are now working in collaboration with our new client in the implementation phase. This insurer represents our second major Preneed client in North America and we are looking forward to a long-term, productive partnership."

About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) is a leading global provider of software solutions for the insurance industry, with an emerging focus on the broader financial services sector. We offer core, end-to-end solutions for the general insurance, property & casualty, life, pension and annuities markets, and business decision management software, globally. We have a track record of over 30 years in delivering superior software solutions to more than 100 financial services organizations. Our team of more than 900 professionals operates through our fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific. For more information: www.sapiens.com

Some of the statements in this press release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities and Exchange Act of 1934 and the United States Private Securities Litigation Reform Act of 1995. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements (although not all forward-looking statements include such words). These forward-looking statements, which may include, without limitation, projections regarding our future performance and financial condition, are made on the basis of management's current views and assumptions with respect to future events. Any forward-looking statement is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking statement. These statements speak only as of the date they were made, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We operate in a changing environment. New risks emerge from time to time and it is not possible for us to predict all risks that may affect us. For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to the Risk Factors detailed in Item 3 of Part III of our Annual Report on Form 20-F for the year ended December 31, 2012 and subsequent reports and registration statements filed from time to time with the Securities and Exchange Commission.

SOURCE Sapiens International Corporation