Company Overview & Market Opportunity
Sapiens (NASDAQ:SPNS) is an Israeli-based multinational enterprise software company, specializing in providing core solutions to clients in the insurance industry.
Insurance has become a critically important financial instrument for almost every kind of business in 2013. There are over $4.2T in gross premiums written across the insurance industry each year and that number is growing. Like every other market segments in the past 20 years, the insurance industry is being revolutionized by the internet. The majority of insurance companies are using software and technology that Sapiens refers to as "legacy systems." These are old and outdated applications quickly being replaced by web based software solutions, much like the ones that Sapiens offers.
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