Altshuler Shaham implements Sapiens platform to manage its retirement processes

Accelerated platform will position Altshuler Shaham as a leading player in the Israeli pension fund market

HOLON, Israel, May 10, 2022 /PRNewswire/ — International Sapiens Society (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced that Altshuler Shaham Investment House, one of Israel’s fastest growing provident and pension fund, upgraded its Life and Retirement solution, to accelerate and support its growing pension fund business. The Sapiens Life and Pension platform will significantly improve Altshuler Shaham’s business processes and operational costs. Sapiens’ platform was selected for its ability to meet Altshuler’s business needs as well as Israeli regulatory requirements.

Altshuler Shaham manages the pension assets of 2.4 million clients over 200 billion shekels. Upgrading its pension management platform will support its steady growth trend. The new platform responds to both changing business needs and Israeli regulatory requirements, and will enable the company to provide an even more flexible and efficient service to its customers. The upgrade will provide Altshuler Shaham with a significant improvement in streamlining the operation of retirement business.

“We are happy to continue our successful cooperation with Sapiens,” said Anat Knafo Tavor, CEO of Altshuler Shaham Provident Funds and Pension. “The choice of Sapiens stems from its wealth of experience in the area of ​​pensions and technology and in Israeli local regulations. The implementation of the system, which is underway, is part of our growth strategy, and our goal is to continue to lead the pension market by Israel.”

“Sapiens is extremely pleased to be a trusted partner of Altshuler Shaham and to enable it to achieve such exceptional growth in the pension fund market. Our 40 years of industry expertise demonstrates our commitment to excellence in pension fund solutions,” said Roni Al DorChairman and CEO of Sapiens.

According to Tal Sharondirector of Sapiens Israel, “We are proud of Altshuler Shaham’s choice to streamline and expand its operations with Sapiens’ advanced solutions, becoming a leading player in the field of pension fund management in Israel.”

The Sapiens Life and Pensions solution and the digital facilitation of pension applications offers a simplified, automated and integrated process for all parties involved (the insurance company, government agencies and legal representatives). The solution offers a dramatic improvement in direct processing and a significant reduction in claims calls and processing times.

About Altshuler Shaham Investment House

Altshuler Shaham Investment House was established in 1990 by Gilad Altshuler and Kalman Shaham, and now joins a group of companies in various areas of finance. Altshuler Shaham is co-managed by two managing directors, Gilad Altshuler and Ran Shaham. Today, the investment house manages 275 billion shekels for 1.8 clients and investors, and offers its clients a wide range of products and services, including the management of investment portfolios, provident funds, education funds, pension funds and mutual funds. Altshuler Shaham also offers additional services such as retirement planning, alternative investments, fiduciary services and foreign exchange services, provided by its incorporated subsidiaries. For more information visit https://www.as-invest.co.il/en/about/about-us/

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) is enabling the financial industry, with a focus on insurance, to transform and become digital, innovative and agile. Leveraging 40 years of industry expertise, Sapiens offers a comprehensive insurance platform, with pre-integrated low-code solutions and a cloud-first approach that accelerates customers’ digital transformation. Serving more than 600 customers in 30 countries, Sapiens offers insurers in the property and casualty, workers’ compensation and life insurance markets the most comprehensive set of solutions, from core to 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.

Media Contact

Shay Assaraf
Chief Marketing Officer, Sapiens
[email protected]

Investor contacts

Kimberly Rogers
General director, R.I. Hayden
+1 541-904-5075
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Forward-looking statements

Certain matters discussed in this press release that 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, and on information currently available to us. These forward-looking statements can be identified by the use of the words “anticipate”, “believe”, “estimate”, “expect”, “may”, “will”, “plan” and similar expressions. These statements reflect our current views regarding future events and are subject to the risks and uncertainties associated with the pandemic. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but without limitation: our degree of success in our plans to leverage our global footprint to increase our sales; the degree of our success in integrating the companies we have acquired through the implementation of our M&A growth strategy; long development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our long and complex sales cycles, which do not always translate into the realization of revenue; 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 long-term, material, complex projects we undertake that involve complex estimates of project costs and profit margins, which sometimes change along the way; the challenges and potential liability that enhanced privacy laws and regulations pose to our business; occasional disputes with customers, 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 or our customers’ systems; risks related to the insurance industry in which our customers operate; risks associated with our global sales and operations, such as changes in regulatory requirements, large-scale viruses and disease outbreaks such as the recent novel coronavirus pandemic, which adversely affected our operating results, or rate fluctuations exchange; and the risks associated with our principal location in Israel and our status as Cayman Islands the society.

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