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Sapiens
Empowering insurers with innovative and digital software solutions
Overview
HQ Location
Israel
Year Founded
1982
Company Type
Public
Revenue
$100m-1b
Employees
1,001 - 10,000
Website
Company Description
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative and agile. Backed by more than 35 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers’ Digital Transformation. Serving over 600 customers in 30 countries, and with more than 4000 employees, Sapiens offers insurers across property and casualty, workers compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management.
IoT Snapshot
Sapiens is a provider of Industrial IoT cloud planning, design and implementation services, and software design and engineering services services, and also active in the finance and insurance industries.
Technologies
Functional Areas
Industries
Services
Technology Stack
Sapiens’s Technology Stack maps Sapiens’s participation in the IoT Technology stack.
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Devices Layer
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Edge Layer
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Cloud Layer
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Application Layer
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Supporting Technologies
Technological Capability:
None
Minor
Moderate
Strong
Case Studies.
Case Study
Digital Transformation in Insurance: A Case Study of Menora Mivtachim
Menora Mivtachim, one of Israel's largest pension fund and insurance carriers, was facing a significant challenge due to demographic trends in Israel. The growing rate of retirement planning and services was putting unprecedented pressure on the already strained insurance sector. The pension claims process was bottlenecked with complexities, bureaucracy, and errors. Menora Mivtachim's existing pension process was heavily manual and spreadsheet-based, requiring a team of 10 full-time employees to manage. The process involved gathering applicant information, conducting personal surveys, compiling bank information, and finalizing agreements. To leverage the growing opportunity in the retirement sector and position themselves as innovative insurtech leaders, Menora Mivtachim needed to digitalize their process, streamline the claims experience, and reduce quote times through automated processes.
