Southeast Invigorates Sapiens at Middle Age
The insurance software business is Conexx's Israeli Company of the Year.
The Israeli Company of the Year being honored at this month’s Conexx Gala has existed for half of Israel’s 70 years. That makes Sapiens, a software company founded in 1982, one of the oldest technology companies in Israel.
Sapiens provides software solutions for the insurance industry and has a growing presence in the financial services market.
For Sapiens, it makes sense to be honored with an award for its efforts in 2017, despite being an established company, because of its North American expansion.
Conexx President Guy Tessler said the award recognizes that growth, including purchasing two companies and “maintaining a well-executed strategic plan which will further business development in its Raleigh, North Carolina, location.”
Listen to Sapiens’ latest financial results.
Yaffa Cohen-Ifrah, Sapiens’ chief marketing officer and head of corporate communications, said, “2017 was a significant year for Sapiens because we extended our presence in the North American market via both acquisitions and organic growth.”
Although Sapiens is a global company, its focus on North America as a strategic region has helped increase revenue.
“Thirty percent of Sapiens’ revenue came from North America” in 2016, Cohen-Ifrah said. “That was increased to 40 percent last year.”
With the largest insurance and financial markets in the world, Sapiens sees North America as an ideal place for continued expansion.
“This is a key area for potential growth,” Cohen-Ifrah said.
The Southeast plays a particularly important role.
“The Southeast was attractive to Sapiens for several reasons,” said Eric Danis, a senior content specialist at Sapiens. “The top-notch universities and low cost of living mean we can attract quality employees. The Southeast is also a hub for fintech (financial technology), which is important for us.”
Cohen-Ifrah pointed out the significance of having a presence in the Southeast.
“It’s important for us to be there because of the potential for collaboration with the many insurtech and fintech companies in the region,” she said. “We want to continue to build our connections in the region, with assistance from Conexx and its valuable activities.”
Conexx has helped connect Sapiens with many organizations, said Keren Lachover, who is part of the Sapiens team in Atlanta.
Conexx has facilitated Sapiens’ relationships with businesses in the Southeast and across the United States.
This relationship makes being honored at the gala even more special, Lachover said. “For us, it is very important to be acknowledged as a leading technology company, especially this year, when Israel is celebrating 70 years.”
comments