ROCHELLE PARK, New Jersey, November 5, 2012 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ and TASE: SPNS), a global provider of innovative insurance software solutions, announced today that Hagit Ashkenazi has joined Sapiens to head up its North AmericaLife & Annuities (L&A) Insurance Professional Services operation. (Logo: http://photos.prnewswire.com/prnh/20120508/531104 ) Ms. Ashkenazi brings to Sapiens a wealth of experience in managing large professional services organizations, serving a wide range of clients in the financial services sector. From the Sapiens newly constructed offices in Rochelle Park, New Jersey, Hagit will be supporting the Sapiens strategy to build a center of excellence to meet the growth needs of the company's North America L&A Insurance business and to provide the best in services to Sapiens ALIS clients. "We are pleased to have Hagit join our growing North American team. Hagit's impact and positive contributions to our business are already being felt throughout the organization and among our clients," said Ron Karam, President Sapiens North America Insurance Division. "Under Hagit's leadership, Sapiens will continue to make significant investment to build a robust and scalable North American professional services organization with the primary objective of delivering outstanding service to our ALIS clients." "With the growing demand of Sapiens ALIS and the fast growing client base, we continue to invest to secure the success of our clients today and in the future," commented Roni Al-Dor, Sapiens President and CEO. "Hagit's experience in large, mission critical projects is the ideal skill set needed to continue to enable us to deliver on our ongoing commitment to our current and future clients in the North American Life & Annuity market." About Sapiens International Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global provider of innovative software solutions for the insurance industry. We offer end-to-end solutions for the Life & Pension, Property & Casualty, and Reinsurance markets. We serve over 100 financial services customers, backed by a team of over 750 insurance experts, operating through fully-owned subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific. 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.