Sapiens International Corporation N.V. (SPNS)

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Sapiens & Parameds.com Announce Partnership to Deliver Advanced Underwriting Services in North America
Monday October 17, 5:46 am ET


MediRisk(TM) Solution Improves Life & Health Underwriting Profitability
RESEARCH TRIANGLE PARK, North Carolina, October 17 /PRNewswire-FirstCall/ -- Sapiens International Corporation N.V. (NASDAQ: SPNS ; TASE: SPNS), a member of the Formula Group (NASDAQ: FORTY ; TASE: FORT) and Parameds.com announced today the formation of a partnership to provide MediRisk(TM), an innovative automated expert underwriting solution, to the North American Life and Health insurance market. The partnership will offer the MediRisk(TM) solution through outsourced services and direct license options to deliver fully automated new business processing, expert underwriting, and risk analytics for life, health and disability insurance carriers. MediRisk(TM), part of the Sapiens INSIGHT(TM) suite of insurance solutions, is a sophisticated, flexible, and adaptable software for the medical underwriting process that produces an accurate, objective underwriting decision in a matter of a few minutes for any life, health, or disability insurance product.

MediRisk(TM) uses Sapiens' eMerge business-rules technology to integrate specific insurer underwriting philosophies with constantly updated medical, pharmacological, and disease databases to produce an underwriting decision or unique risk assessment "score" defining the individual health status for applications for life, health or disability insurance - all in an in-house or outsourced solution that easily integrates with existing systems.

MediRisk(TM)'s underwriting risk analysis engine and configuration capabilities are unique in the industry, enabling clients to reduce application processing time and cost by 80% or more, and process a single application for multiple life, health, and disability products or coverage in a single transaction.

"We are delighted to partner with Parameds.com to make MediRisk(TM) available to life and health insurers in North America," commented Steven Bessellieu, President of Sapiens Americas. "Its benefits have been recognized by analysts and clients throughout Europe and the Middle East, and we expect clients to immediately begin to leverage its advantages."

Eli Rowe, CEO of Parameds.com, remarked, "We believe that MediRisk(TM)'s flexibility, rules-based technology, rapid implementation approach and easy maintenance combined with Parameds' market presence, superior client service, and proven ability to deliver high quality outsourcing represents outstanding value for carriers looking to reduce costs and more effectively compete and grow in today's constantly changing market."

About Parameds.com

A pioneering leader in the underwriting data retrieval and management industry, Parameds.com continues to set the standard in responsive and expedited service, innovative systems capabilities, and value based pricing. Parameds.com's life and health insurance application services include APS retrievals - averaging national turnaround time of 9 calendar days - revolutionary Expert Automated Underwriting Solutions enabling true straight-through processing for any company or product, and an Exam Solution that assures the highest rated examiner anywhere service is required. Parameds.com, headquartered in New York with representatives nationwide, provides services to a broad range of carriers nationwide, including many of the top 100 life and health insurance companies in North America. For more information contact Stuart Levy, Chief of Operations at [e-mail], or visit www.parameds.com

About MediRisk(TM)

MediRisk is a fully automated new business processing, expert underwriting, and managerial solution for the life and health insurance industry. MediRisk is a sophisticated, flexible and adaptable solution for the medical underwriting process combining the expertise of medical specialists with disease, pharmacological, cultural and demographic data to produce an accurate, objective and reliable underwriting decision, based on specific insurer underwriting philosophy, in a matter of a few minutes for any life, health, or disability insurance application. Using flexible rules technology, MediRisk enables carriers to innovate at every point in the underwriting process - from deployment at point of sale and expedited, accurate application analysis to scoring, rating and decisions, with real time process quality refinement through data analysis, management reporting, and risk modelling.

About Sapiens International

Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a member of the Formula Group (NASDAQ: FORTY and TASE: FORT), is a leading global provider of proven IT solutions that modernize business processes and enable organizations to adapt quickly to change. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific, and has partnerships with market leaders such as IBM and EDS. Sapiens' clients include AXA, Allianz Group, Liverpool Victoria, Norwich Union, OneBeacon, Principal Financial Group, Abbey National, ING, Menora and Occidental Fire & Casualty among others.


For more information, please visit http://www.sapiens.com

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