UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2020

Commission File Number 000-20181

 

SAPIENS INTERNATIONAL CORPORATION N.V.

(Translation of Registrant’s name into English)

 

Azrieli Center

26 Harokmim St.

Holon, 5885800

(Address of Principal Executive Office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒ Form 40-F ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

 

 

 

 

 

  

CONTENTS

 

On October 13, 2020, Sapiens International Corporation N.V., or Sapiens, issued a press release announcing the commencement of a proposed underwritten public offering of its common shares, a copy of which is attached hereto as Exhibit 99.1.

The contents of this Report of Foreign Private Issuer on Form 6-K, including Exhibit 99.1 hereto, are hereby incorporated by reference into Sapiens’ registration statement on Form F-3 (SEC File No. 333-232599), which was filed with the SEC on July 11, 2019 and was declared by the SEC as effective on July 26, 2019, and shall be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

1

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  

  Sapiens International Corporation N.V.
   
  By:  /s/ Roni Giladi
  Name: Roni Giladi
  Title: Chief Financial Officer

Dated: October 19, 2020

2 

 

 

EXHIBIT INDEX

 

The following exhibits are furnished as part of this Form 6-K:

 

Exhibit No.

  Description
     
99.1   Press release

 

 

3

 

 

Exhibit 99.1

 

 

 

Sapiens Wins Celent’s North America Xcelent Award for New Business and Underwriting Functionality in Life Insurance

 

Sapiens UnderwritingPro recognized for its “Strong System with the ‘Bells and Whistles’ for Every Type of Underwriting”

 

October 19, 2020 – Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Sapiens has won Celent’s XCelent award in the ‘Breadth of Functionality’ category in North America for Sapiens UnderwritingPro for Life & Annuities. This marks the eleventh XCelent award Sapiens has received to date.

 

“Insurers who are looking for a full-featured new business and underwriting system that functions equally well standalone or as part of a suite will find that Sapiens UnderwritingPro meets their requirements,” wrote Celent analyst Karen Monks in the report. “Sapiens UnderwritingPro is the original of the modern underwriting engines, initially introduced in 1995. It has earned its spot among the top new business and underwriting systems through continual enhancement with new features, interfaces and capabilities, which have been guided by a very active user group.”

 

Sapiens UnderwritingPro is a cloud-ready solution that provides excellence in automated underwriting of life, health and annuity policies, as well as new business case management. The robust digital solution facilitates the drive, intensified by COVID-19, for insurers to move toward “fluidless” underwriting experiences with minimal or no human intervention. Sapiens UnderwritingPro provides data-driven, automated underwriting and a strong underwriter workbench for cases that require special attention.

 

Research and consulting firm Celent analyzed 14 new business and underwriting systems available for use by, or being marketed for, North American life, health and annuities product carriers. The findings were published in Celent’s recent report: “New Business and Underwriting Systems: North American Life Insurance Edition.” 

 

Sapiens has been a pioneer in new business and underwriting technology, which has been in our DNA for 25 years. Our extensive experience enables us to leverage best practices, combined with the latest technologies and digital business requirements demanded by our customers.

 

Many of the leading life and annuity carriers in North America are using Sapiens UnderwritingPro to automate their processes and enable true quick time to decision, quick time to issue and expertly manage risk.

 

Regarding features, the Celent analyst wrote, “UnderwritingPro has the full array of expected case management and underwriting features. It provides end-to-end functionality for the underwriting process: not in good order cases; requirements and evidence orders and fulfillment; predefined interfaces for evidence providers; case management, business, underwriting and workflow rules; roles definition; amendments and other than applied for communication; delivery requirements tracking; underwriter decision support; case management notes; and underwriting notes. The underwriting notes and case notes have been upgraded to a new panel that is always available by “pulling” it from the right side of the screen.”

 

“We are honored to once again receive an XCelent award,” said Roni Al-Dor, Sapiens president and CEO. “We are investing heavily to continue to provide innovative technology for North American providers and to ensure that we are equipping our customers with the most modern and functionally rich solutions. We appreciate Celent continuing to provide such in-depth research, which enables Sapiens to better understand insurers’ top priorities and challenges in North America.”

 

To download the report, CLICK HERE.

 

About Sapiens

Sapiens International Corporation empowers insurers to succeed in an evolving industry. The company offers digital software platforms, solutions and services for the property and casualty, life, pension and annuity, reinsurance, financial and compliance, workers’ compensation and financial markets. With more than 35 years of experience delivering to over 500 organizations globally, Sapiens has a proven ability to satisfy customers’ core, data and digital requirements. For more information: www.sapiens.com.

 

Media Contact

 

Alex Zukerman,

CMO and Chief of Strategy, Sapiens

+972 546 724 910

alex.zukerman@sapiens.com

 

 

www.sapiens.com

 

 

 

2