Sapiens to Integrate IBM's WebSphere Portal into Its INSIGHT Family of Insurance Solutions

Business Wire, Dec 23, 2002

Business Editors/High-Tech Writers

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Dec. 23, 2002

Sapiens International Corporation (Nasdaq:SPNS), a leading global IT solutions provider, today announced the availability of IBM WebSphere Portal(a) as an optional front end to its INSIGHT family of insurance solutions.

Sapiens Policy INSIGHT, its policy administration solution for the property/ casualty insurance sector, will be the first in the product suite to include WebSphere Portal.

Policy INSIGHT enables insurance companies to automate new business and policy lifecycle processing by linking directly through the Internet to their producer community. As the leading insurance industry solution built on WebSphere Portal functionality, Policy INSIGHT will provide a framework for quickly constructing and implementing Web-based applications, including Customer Search and InTray portlets, which are designed to enable increased access to information for business users and improved policy processing for new business.

"This agreement between Sapiens and IBM enables the business innovation our mutual customers need," stated Larry Bowden, Vice President, IBM Portals Solutions Software Group. "Sapiens is leveraging the WebSphere Portal platform to provide the functionality that empowers dynamic interaction throughout the insurance value chain."

"Sapiens and IBM continue to make strides in our partnership and delivering value to the insurance market," said Judy Johnson, Vice President Insurance Strategy, Sapiens Americas. "IBM WebSphere Portal was a natural choice for us as an open standards platform to build on, and the portal will increase insurer and agent productivity through personalized interfaces."

About Sapiens International

Sapiens International Corporation (Nasdaq:SPNS) is a leading global provider of proven IT solutions that modernize business processes and enable insurance organizations and other leading companies to adapt quickly to change. Sapiens' modular solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through wholly owned subsidiaries in North America, EMEA and Asia Pacific. The Company has partnerships with market leaders such as IBM and EDS and its clients include AXA, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial, Prudential, Abbey National, Honda, International Paper, Panasonic UK among others. For more information, please visit www.sapiens.com.

(a) Indicates trademark or registered trademark of International Business Machines Corporation. All other trademarks are the properties of their respective companies.

Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the company's accounting policies and other risk factors detailed in the Company's SEC filings.