Pitney Bowes' Group 1 Software Partners with Sapiens to Streamline and Automate Operations for Insurance Carriers
LANHAM, Md., October 29, 2007 - Group 1 Software, Inc., a Pitney Bowes Company (NYSE:PBI), today announced that it has entered into a partnership agreement with Sapiens Americas Corporation, a subsidiary of International Corporation N.V. (NASDAQ and TASE: SPNS), a member of the Emblaze/Formula Group (LSE: BLZ.L) (NASDAQ: FORTY and TASE: FORT), to enable insurance carriers to more accurately and efficiently automate operations.
Group 1 Software’s industry-leading data quality and geocoding technologies provide real-time standardization, validation and cleansing of customer name and address information, as well as automated geographic risk assignment for faster, more efficient, and more accurate underwriting and other analysis.
Together with Sapiens INSIGHT™ insurance administration suite for policy, billing, claims and reinsurance management, Group 1 Software’s technology provides insurers with the tools they need to respond quickly to business challenges including speed to market, increasing customer demands, globalization and regulatory change.
“Having ready access to accurate and complete customer data, as well as knowing how to interpret that data, is a key challenge that many insurance companies are facing today,” said Roni Al-Dor, president and CEO of Sapiens. “Our partnership with Group 1 Software ensures that our customers will have clean, accurate and enriched data necessary to maximize the effectiveness of the Sapiens INSIGHT™ solution.”
“In today’s competitive environment, insurance carriers face tremendous pressure to move faster and more efficiently to capture new revenue, and improve profitability and operational efficiency,” said Chuck Fazio, vice president of Global Alliances for Group 1 Software. “Sapiens’ state-of-the-art insurance administration solution combined with Group 1 Software’s advanced data quality and geocoding technology enables them to meet those challenges.”
About Sapiens International
Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a member of Emblaze/Formula Group (LSE: BLZ.L) (NASDAQ: FORTY and TASE: FORT) is a leading global provider of proven IT solutions that modernize business processes and enable insurance 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, ING Canada, Liverpool Victoria, Menora Mivtachim, Norwich Union, Occidental Fire & Casualty, OneBeacon, Principal Financial Group, Santam and Texas Farm Bureau among others. For more information, please visit www.sapiens.com.
About Group 1 Software
Group 1 Software (www.g1.com) turns data into results, providing innovative software solutions that enable our clients to better understand and connect with their millions of customers, prospects, and partners. Group 1 Software helps over 3,000 organizations maximize the value of customer data to improve profitability, increase effectiveness, and strengthen customer relationships, through consolidating, cleansing and enriching corporate data, and generating personalized business documents for multi-channel delivery, customer care and efficient business processing. Our comprehensive Customer Communication Management (CCM) solutions span from database to delivery, adding value to every aspect of communication and allowing clients to integrate intelligence throughout their mailstream. As part of Pitney Bowes (NYSE: PBI), a $5.6 billion company, Group 1 Software’s solutions are utilized by leaders in the insurance, financial services/banking, GIS/mapping, government, mail services, retail, telecommunications, utility, and other industries, including Entergy, ING, L.L. Bean, MapQuest, Microsoft, Safeco Insurance, Wal-Mart and Wells Fargo.
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