Sapiens Enhances Industry-Leading StatementPro with New Multi-Company Features

Core Insights - Sapiens International Corporation has launched StatementPro Multi-Company Operations (MCO), enhancing statutory reporting for insurers by streamlining processes across multiple entities, thereby reducing administrative burdens and increasing productivity [1][3][5] Product Features - StatementPro is recognized as the most feature-rich statutory reporting solution, and the new MCO feature provides a more intuitive workflow, allowing insurers to prepare multiple statements with less effort while ensuring accuracy and compliance [2][3] - The Filing Period Setup Wizard is a key capability of MCO, enabling users to create and schedule all statements for the next filing period in a single operation, resulting in significant time savings and potentially reclaiming weeks of staff productivity annually [4][5] Market Context - Over half of the National Association of Insurance Commissioners (NAIC) reporting entities belong to a group of companies, increasing the need for efficient filing processes within tight regulatory deadlines [3] - As organizations in the insurance sector continue to merge and expand, optimizing reporting across multiple entities becomes critical for meeting internal and regulatory deadlines [5] Future Developments - Sapiens plans to enhance StatementPro MCO with additional capabilities, including automated NAIC filings and standardized responses across statements, reinforcing its position as a comprehensive statutory reporting solution [5]