Sapiens International Corporation has entered into an agreement to acquire Delphi Technologies, a software vendor for property and casualty carriers with a focus on the medical professional liability (MPL) and healthcare professional liability (HCPL) markets.
Delphi, founded in 1989 and headquartered in Boston, has more than 100 employees and approximately 40 insurance customers. The company offers products for MPL including policy administration, claims management, and financial and risk management. Sapiens, which will continue to support Delphi’s products and customers, said the acquisition would enhance its CoreSuite for property & casualty.
“Industry consolidation has challenged MPL insurers to deliver differentiated products and services for the full scope of healthcare providers, including large institutions and networks, individuals, small groups and captives,” said Martina Conlon, executive vice president of research and consulting for Novarica. “Insurers need a strong technology partner to deliver flexible, digital offerings with best-in-class service options. The Delphi acquisition gives Sapiens rich MPL domain knowledge and a customer base to advance its position in the US.”
“I am pleased to welcome the Delphi team as we strive to create additional value for customers,” said Roni Al-Dor, president and CEO of Sapiens. “The US, where our suite of digital and cloud offerings has increased our market share, is a significant growth driver for Sapiens. The Delphi acquisition expands Sapiens’ presence in the MPL market and improves our prospects in this key region. The combination of Delphi’s deep knowledge base and customer portfolio, combined with Sapiens’ solutions, relationships and resources, will enhance our position as a leading solution provider in the US.”
“Sapiens advanced technologies and scalable service models, backed by Delphi’s market presence, extensive client relationships, and domain expertise, will enable a much deeper penetration of the MPL market,” said Sam Fang, founder and CEO of Delphi. “Together, Delphi and Sapiens will create exciting new opportunities for employees, customers and prospects. Energized for the future, we eagerly look forward to seamlessly integrating with Sapiens to serve the MPL market.”
