Buckle Selects Sapiens Digital Financial Solutions for Gateway Insurance Company

JERSEY CITY, N.J. - Dec. 1, 2020 - PRLog -- Buckle (http://www.buckleup.com), a tech-enabled financial services company, announced its licensed carrier, the Gateway Insurance Company, has selected Sapiens Americas, a wholly owned subsidiary of Sapiens International Corporation (http://www.sapiens.com), (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry. Gateway has launched a unique digital fronting strategy™ with multiple value-propositions for partners through an a-la-carte insurance program offering with digital capabilities. Sapiens Reinsurance GO (https://www.sapiens.com/na/solutions/sapiens-reinsurance-go/), Sapiens FinancialPro (https://www.sapiens.com/solutions/sapiens-financialpro/), and Sapiens StatementPro (https://www.sapiens.com/solutions/sapiens-statementpro/) will enable Gateway to transform its financial, compliance, and reinsurance management.

In June, Buckle announced the acquisition and recapitalization of Gateway, including its 47-state insurance licenses. Through its digital fronting strategy™, Buckle has expanded insurance coverage to include transportation network companies (TNCs), traditional taxi, limo, and livery businesses using Lyft (https://www.lyft.com/), Uber (https://www.uber.com/), and other apps.

"The Gateway Insurance Company team is deeply familiar with the wide range of functionality of Sapiens' digital solutions, so this was a natural selection," said Marty Young (https://www.linkedin.com/in/martinsyoung/), Co-founder and CEO of Buckle. "When Buckle acquired Gateway in June, Sapien's flexibility allowed us to onboard Gateway efficiently and quickly. We look forward to our continued relationship to efficiently manage accounting, reporting, and reinsurance contracts, particularly through rapid growth and expansion."

Combining Sapiens' best-in-class financial and reinsurance solutions gave Buckle a one-stop-shop for many of its needs. Sapiens FinancialPro provides the statutory, GAAP, and consolidated financials necessary for Buckle to grow its portfolio of carriers, while Sapiens StatementPro makes NAIC quarterly and annual statements quicker and easier. Sapiens Reinsurance GO solution delivers the accuracy, reliability, and flexibility needed to manage multiple program partners with different reinsurance agreements.

"Sapiens is proud to have been chosen by Buckle for our comprehensive, digital financial solutions," said Roni Al-Dor (https://www.linkedin.com/in/roni-al-dor-9b42165/), Sapiens President and CEO. "Sapiens is a natural partner for Buckle because we share a commitment to digital transformation and to exceeding our clients' expectations. Our industry best practices and knowledge, combined with our advanced digital financial and reinsurance platform, help insurers lower operating expenses with faster, more accurate reporting."