Published on 12 Apr 2022 on Zacks via Yahoo Finance
Sapiens' (SPNS) IllustrationPro Selected by Guardian Group
Sapiens International SPNS is riding on an expanding clientele. The company recently announced that Guardian Group is using its IllustrationPro and ApplicationPro softwares in its life and health operations.Sapiens IllustrationPro for Life & Annuities is a cloud-based point-of-sale illustration and quoting solution. The solution offers a fully-responsive, modern and intuitive user experience for the life and annuities, and health markets. Meanwhile, ApplicationPro helps carriers address critical business drivers, such as decreasing time–to–issue and reducing policy acquisition costs.Sapiens’s solutions have been getting adopted globally. Its ReinsurancePro solution was recently selected by Applied Underwriters to replace its legacy process with a platform that is streamlined, consistent and financially correct. Markedly, Sapiens’ ReinsurancePro manages the entire range of reinsurance contracts and activities for all lines of business.A leading insurance company in Portugal recently selected the ReinsuranceMaster solution. Moreover, Luxembourg-based Builders Insurance Holdings, a leading global provider of P&C insurance and reinsurance services, transformed its legacy system with Sapiens’ end-to-end core solution.Sapiens also entered into a partnership with Albany Group, which specializes in risk and intelligence software, for an automated compliance, risk management and regulatory platform. The partnership simplifies complex compliance processes carried out across third-party platforms such as Lloyd’s.An expanding clientele is driving Sapiens’ top-line growth. In 2021, non-GAAP revenues increased 20.6% year over year to $463.6 million. Life, DECISION and Reinsurance continued growing steadily, building a solid pipeline for 2022.For 2022, Sapiens expects non-GAAP revenues between $495 million and $500 million. On a constant-currency basis, this represents organic growth of 9.1% over 2021. Further, non-GAAP operating margin is expected to be 17%-17.3%.The Zacks Consensus Estimate for 2022 revenues is pegged at $497.45 million, indicating 7.90% increase from the figure reported in 2021. The consensus mark for 2022 earnings stands at $1.15 per share, suggesting a decline of 2.54% from the figure reported in 2021.
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