Sapiens International (SPNS - Free Report) recently announced that it has teamed up with Lightico to expand its growing ecosystem.
Lightico’s digital platform empowers businesses to complete client facing processes in real time. This is achieved by automating, streamlining and digitizing client interactions.
This partnership will enable Sapiens to offer its software solutions, namely P&C and life, annuities and pension offerings, with Lightico’s platform. The combined offering will help insurance agents speed up sales and improve customer satisfaction. It will also reduce the cycle time for claims.
The latest partnership is also in line with Sapiens’ strategy of maximizing its open API architecture and making innovative third -party insurtech solutions available to the company’s clients.
Partnerships & Acquisitions Stoke Top-line Growth
Notably, Sapiens recently expanded its partner ecosystem with Kovrr, a predictive cyber risk modelling firm. This helps the company provide real time, data-driven insight into cyber risk exposure. It also assists clients in meeting regulatory requirements and avoiding policy losses.
Sapiens also partnered with FRISS, an automated fraud detection and risk assessment leader in the P&C insurance sector. Both partnerships have expanded Sapiens’ product offerings and made innovative insurtech solutions easily available to its clients.
Sapiens’ partnerships have also enabled it to make use of emerging technologies like machine learning, IOT and blockchain which has helped the company stay relevant in the competitive insurtech market.
Moreover, Sapiens has had a solid track record of acquisitions that have bolstered its top-line growth as well as improved the company’s margins through synergies and improved scale.
For instance, its acquisition of Calculo, a software solutions provider for the Spanish market, is expected to help Sapiens expand footprint in Europe. Moreover, Calculo’s expanding customer base is expected to boost Sapiens’ global expansion.
Notably, Sapiens earned Non-GAAP revenues of $82.6 million in third-quarter 2019, up 12.8% from the year-ago quarter.
Zacks Rank & Other Stocks to Consider
Currently, Sapiens carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the broader technology sector include Baidu (BIDU - Free Report) , Marchex (MCHX - Free Report) and CommVault Systems (CVLT - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term earnings growth rate for Baidu, Marchex and CommVault is currently pegged at 2.3%, 15% and 10%, respectively.
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