/ By Clive Minchom /
Sapiens International Corporation (Sapiens), publicly listed on the NASDAQ and Tel Aviv Stock Exchanges, today announced that the Texas Farm Bureau Insurance Companies (Texas Farm), one of the largest Texas-based insurance groups providing auto, home, farm and ranch, life, and health insurance, has chosen to expand its Sapiens’ insurance software products implementation to include all personal property and casualty lines of business.
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As part of an on-going strategic shift in its systems infrastructure and application suite, Texas Farm will migrate all personal lines of business from its legacy systems to a Sapiens software platform. This will enable ease of doing business backed by a customer-centric rules- based management system.
Sapiens is a global provider of innovative software solutions for the financial services industry, offering core, end-to-end solutions for the general insurance, property & casualty, life, pension and annuities markets, and business decision management software, globally. Sapiens has a track record of over 30 years in delivering superior software solutions to more than 100 financial services organizations, and operates through fully-owned subsidiaries worldwide.
Commenting on the implementation expansion, Mike Gerik, Executive Vice President of Texas Farm , said, “We’ve benefited from a successful Farm and Ranch property project with Sapiens, and we continue to be impressed with Sapiens’ wide-ranging experience in the insurance sector and understanding of our needs. The Farm and Ranch property system has been statewide for a couple years, and the casualty (auto) system is now scheduled to be statewide soon. Additional property lines are also scheduled to be deployed in the coming months.”
“This is a clear vote of confidence in Sapiens, and it follows the successful implementation of our rules based solutions delivered to our customers” said Tomer Srulevich, Executive Vice President Sales and Operation of the Sapiens business decision management solution: “DECISION”. “The expansion of our relationship reflects our solid business value for helping our customers cope in today’s fast-paced, ever changing, tightly regulated marketplace.”
Roni Al-Dor, President and CEO of Sapiens, commented, “We appreciate Texas Farm Bureau Insurance Companies’ confidence in our team and in our software offerings and we are fully committed to this long-term partnership. We are very pleased with the growing demand for Sapiens insurance software solutions and services, and have recruited over 100 new employees globally to further support our growth.”
Mr. Al-Dor joined Sapiens as President and CEO in November 2005 after serving for nine years as President of TTI Telecom, a global supplier of Operations Support Systems to communications service providers. Mr. Al-Dor is a graduate of the Israeli Air Force’s military computer college, studied computer science and management at Bar Ilan University and attended the Israel Management Center for Business Administration.