SECURITIES
AND EXCHANGE COMMISSION
Washington
D.C. 20549
FORM
6-K
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For
the month of March 2010
Commission
File Number 000-20181
Sapiens
International Corporation N.V.
(translation
of registrant’s name into English)
c/o
Landhuis Joonchi
Kaya
Richard J. Beaujon z/n
P.O.
Box 837
Willemstad
Curaçao,
Netherlands Antilles
(599)
(9) 7366277
(address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F
Form 20-F
x Form 40-F o
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): ____
Indicate
by check mark whether the registrant by furnishing the information contained in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2 (b) under the Securities Exchange Act of 1934
Yes o No x
If
“Yes” is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_______________.
SIGNATURE
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.
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Sapiens
International Corporation N.V.
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(Registrant)
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Date:
March 3, 2010
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By:
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/s/ Roni
Giladi
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Roni
Giladi
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Chief
Financial Officer
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PRESS
RELEASE
LIVERPOOL
VICTORIA FRIENDLY SOCIETY RENEWS CONTRACT WITH SAPIENS FOR $7M OVER 5 YEARS FOR
SUPPORT SERVICES FOR CLOSED BOOKS
Cary, NC – March 3, 2010 -
Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS) a member of
Formula Group (NASDAQ: FORTY and TASE: FORT), and a provider of insurance
software solutions, today announced that Liverpool Victoria Friendly Society
(LV=), renewed its contract with Sapiens valued at $7M over a period of five
years, to provide support services for the Sapiens INSIGHT for Closed Books. The
Sapiens solution is used to administer more than 3 million policies defined as
“closed books of business” in LV=’s Life and Pension portfolio.
LV= first
engaged with Sapiens back in 2002 to implement Sapiens INSIGHT for Closed Books
software solution for insurance carriers, initially going live with more than 2m
policies, dramatically reducing both IT and Business administration
costs, and improving its runoff rates. LV= and Sapiens have since migrated
several other books of Life and Pensions business onto the INSIGHT
platform.
The
INSIGHT for Closed Books solution allows clients to better manage their closed
books business, both financially and in terms of customer service. The solution
helps reduce the cost-per-policy and improve customer experience, by leveraging
Sapiens’ innovative approach to data migration, together with Sapiens deep
insurance industry know-how. The Sapiens' Closed Books solution is unique in its
approach to solve the challenge of managing the heritage portfolio of a Life and
Pension insurance.
Raj
Ghuman, Vice President of Sales and Operations - Sapiens Europe, commented:
“This is a testimony to the strategic relationship we have developed with LV=
over the past years, and the confidence that our customers have in Sapiens. The
contract contributes to Sapiens’ long term growth plans, and helps LV= meet its
aggressive goals for efficiency and cost reduction.”
About
LV=
LV= is a
trademark of Liverpool Victoria Friendly Society Limited (LVFS) and LV= is a
trading style of the Liverpool Victoria group of companies.
LV=
employs over 3,800 people, serves more than 3.8m customers and members, and
manages around £7.7bn on their behalf. We are also the UK’s largest friendly
society (Association of Friendly Societies statistics 2009, total net assets)
and a leading mutual financial services provider.
Liverpool Victoria Friendly Society
Limited is authorized and regulated by the Financial Services Authority and
entered on the Financial Services Authority Register No. 110035. LVFS is a
member of the ABI, AMI, AFS and ILAG. Registered address: County Gates,
Bournemouth BH1 2NF.
About
Sapiens International
Sapiens
International Corporation N.V. is a leading global provider of business
solutions for the insurance industry, helping modernize business processes and
enabling insurance organizations to adapt quickly to change. Sapiens' innovative
solutions are widely recognized for their ability to cost-effectively align IT
with the business demands for speed, flexibility and efficiency. Sapiens
operates through its subsidiaries in North America, the United Kingdom, EMEA and
Asia Pacific. For more information, please visit http://www.sapiens.com.
Except
for historical information contained herein, the matters set forth in this
release are forward-looking statements that are dependent on certain risks and
uncertainties, including such factors, among others, as market acceptance,
market demand, pricing, changing regulatory environment, changing economic
conditions, risks in new product and service development, the effect of the
Company's accounting policies, specific system configurations and software needs
of individual customers and other risk factors detailed in the Company's SEC
filings.
FOR
ADDITIONAL INFORMATION:
Osnat
Segev-Harel
VP
Business Development and Marketing
Sapiens
International
Tel:
+972-8-938-2721
E-mail:
osnat.se@sapiens.com
Roni
Giladi
Chief
Financial Officer
Sapiens
International
Tel:
+972-8-938-2721
E-mail:
IR.Sapiens@sapiens.com