Follow Us



Sapiens to Acquire IBEXI Solutions

Staff Writer | March 31, 2015

Sapiens International Corp., announces it has signed a definitive agreement, subject to closing conditions, to acquire IBEXI Solutions Private Limited, an India-based provider of insurance business and technology solutions. Closing of the acquisition is expected to occur in the second quarter of 2015.

IBEXI, which was founded in 2001, has a team of 180 insurance and technology professionals. The company is working in Asia Pacific, servicing 18 insurers in both the property and casualty (P&C) and life, pension, and annuities (L&P) markets, including leading insurance companies in India. With its local management and sales presence in Asia Pacific, IBEXI has been selling the Sapiens IDIT Software Suite for seven years and providing support for its existing customer base in that region.

IBEXI offers IT business consulting services to insurance companies on both core insurance and supporting systems. In addition to its own insurance products—business intelligence (BI) and insurance portal offerings—IBEXI also provides implementation services for insurance business solutions, including for external products. IBEXI’s insurance products will extend Sapiens’ portfolio of solution offerings, providing Sapiens’ clients with immediate benefits.

Following the acquisition, IBEXI will manage the Sapiens Asia Pacific domain, and will establish a solid footprint for Sapiens as a regional center. IBEXI, which has previously managed several successful go-live projects, will enhance the Sapiens team with an expanded delivery team across all Sapiens solutions globally. With a larger and more geographically dispersed professional services team, Sapiens will be well positioned to provide services and support to its global customers with better cost efficiency.

IBEXI’s annual revenues for the period ended December 31, 2014, are approximately $4.3 million dollar. Without factoring in IBEXI's revenues generated from sales to Sapiens, IBEXI’s 2014 full year revenues totaled $3.6 million dollars.

“I am proud of IBEXI’s accomplishment as a provider of solutions and IT services to the Asia Pacific insurance industry,” said Ashok Bhavnani, IBEXI’s CEO. “I am confident that IBEXI’s domain expertise, our business intelligence and insurance portal offerings, and proven delivery capabilities will bring great value to Sapiens and its clients.”

 “I believe that this acquisition will allow us to better serve the Asia Pacific insurance market,” said Roni Al-Dor, president and CEO of Sapiens. “It will expand our product portfolio with complementary solutions and will enable us to better achieve our targets of operational margin expansion.” 

Featured articles

MT 160x600

Majesco RH


The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.


The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!


only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News