Sapiens International Corporation NV, a global provider of software solutions for the insurance industry, announced that a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) has invested in the company and became a significant minority shareholder.
The investment marks a step forward for Sapiens following its acquisition by Advent last year and will help accelerate its AI strategy for the insurance industry.
Sapiens also announced it is moving its headquarters to central London, with new offices located at Holborn Space House.
The move reflects the company’s growing focus on one of the world’s leading insurance markets. The new office will serve as its global headquarters and AI customer experience lab, where the insurance company can work directly with the Sapiens team to explore and test industry-tailored AI applications.
The location will also enhance Sapiens’ ability to attract and access artificial intelligence talent as it continues to expand its forward deployment team, which works with customers to responsibly deploy and scale agent systems.
Sapiens also plans to open a second AI customer experience lab in the United States later this year, focusing on the North American insurance market.
Mike Etdling, executive chairman and interim CEO of Sapiens, said: “AI-driven hyper-relevance is the new competitive advantage for insurance companies, and we are delivering this advantage through agile intelligence and the ability to make decisions quickly. This will revolutionize the way insurance companies compete, enter the market and ultimately serve the people who buy their products. Our new office is designed to deepen our cooperation with the world’s leading insurance institutions at a time of huge technological change in the industry.”
Douglas Hallstrom, managing director at Advent, added: “Insurers have a significant opportunity to improve customer satisfaction, growth and profitability through the effective use of artificial intelligence. Helping insurers seize this opportunity is a primary focus for Sapiens. Advent and ADIA are pleased to support Sapiens as it accelerates investment in its team, products and operational infrastructure, including a new London headquarters, to achieve this mission.”
