Israel-based Sapiens acquires US insurtech company Delphi Technology

Sapiens acquisition of Delphi Technology : Israel-based Sapiens International has acquired US insurtech company Delphi Technology for $19.5 million in an all-cash deal in a move to expand its presence in the medical professional liability market.

Delphi Technology, which is based in Boston, provides software solutions for property and casualty (P&C) insurers for streamlining their operations, streamline their business processes and respond to varying needs of their business.

Using its flexible technology platform, Delphi Technology is said to help insurance companies lower costs, boost operational efficiency, and enhance business intelligence.

The company’s main products for the medical professional liability market are policy administration, claims management, and also financial and risk management.

Commenting on Sapiens acquisition of Delphi Technology, Roni Al-Dor – Sapiens International president and CEO, said: “I am pleased to welcome the Delphi team as we strive to create additional value for customers. The U.S., 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 U.S.”

Sapiens International, which is an Israeli insurtech company, said that it will continue to support Delphi Technology’s products and customers, who are now likely to benefit from a range of complementary offerings.

Furthermore, the Israeli insurance technology solutions provider also intends to tap into the expertise and know-how of the US firm to improve its CoreSuite for Property & Casualty further for bringing a holistic, multi-line, comprehensive solution to the medical malpractice insurance market.

Sam Fang – founder and CEO of Delphi Technology, commenting on Sapiens acquisition of Delphi Technology, said: “Sapiens’ advanced technologies and scalable services models, backed by Delphi’s market presence, extensive client relationships, and domain expertise, will enable a much deeper penetration of the MPL market. 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.”