Philadelphia Insurance Companies Goes Live With Sapiens' RapidSure Policy Administration Suite

Successful Deployment of Five Lines of Business, All States, and Integrated With Existing Systems in 6 Months

CARY, North Carolina, September 7, 2010 - Sapiens International Corporation (www.sapiens.com/)
N.V. (NASDAQ and TASE:SPNS), a global provider of innovative insurance
software solutions (www.sapiens.com/Insurance_Solutions.htm), today
announced that Philadelphia Insurance Companies has deployed the RapidSure
Policy Administration solution for the first phase of replacing and improving
their policy issuance processes and systems. Development of additional lines
is already underway for the second phase of the project. RapidSure is the
policy administration system built by Harcase which was recently acquired by
Sapiens.

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The RapidSure implementation project included deployment of 5 lines of
business spanning specialty and ISO and non ISO for both commercial and
personal lines of business, leveraging ACORD standards. Full integration to
Philadelphia Insurance's current infrastructure including billing, claims,
document management and accounting systems with their web portal was also
delivered in this short timeframe.

"We conducted an exhaustive market search to find the best fit
solution for our needs. We found RapidSure to be the most innovative and
flexible solution available in the market that also adheres to industry
standards - all of which were key criteria in our selection process," said
Alfred Goxhaj, CIO, Philadelphia Insurance Companies. "Sapiens delivered on
its commitment to meet our aggressive schedule. In just six months, we are
already in production with five new lines of business, and are well on our
way with our plans to rapidly expand the use of the system across additional
lines."

Goxhaj continued, "RapidSure provides us a robust product
configuration engine for quick development and delivery of our products -
across our commercial, personal and specialty lines, as well as a web portal
delivery. This is a powerful combination of capabilities that will enable us
to be an agile organization, able to respond quickly and effectively to our
agent channels, business partners, and continually changing business
dynamics."

Chad Hersh, a Principal at analyst firm Novarica, added,
"Philadelphia Insurance had an unusually aggressive deadline for a carrier of
their size and a project of this breadth. That the system was implemented in
just six months validates the importance of the flexibility and open
standards that are hallmarks of truly modern solutions."

Dan Sobotincic, EVP of Sapiens North America, said, "We
sincerely appreciate Philadelphia Insurance confidence in Sapiens and in our
RapidSure suite for their core system needs. Both of our organizations
allocated dedicated, small, agile and delivery-oriented teams that worked
side by side to meet the challenging goals and timeline. We look forward to a
long partnership with Philadelphia Insurance with a common focus on
delivering maximum value from RapidSure to enable their continued business
success and to support their planned growth."

About Philadelphia Insurance Companies

Philadelphia Insurance Companies designs, markets, and underwrites
commercial property/casualty and professional liability insurance products
incorporating value added coverages and services for select industries. In
operation since 1962, the Company, whose commercial lines insurance
subsidiaries are rated A+ (Superior) by A.M. Best Company and AA- for
counterparty credit and financial strength by Standard & Poor's, is
nationally recognized as a member of Ward's Top 50 and National Underwriter's
Top 100 (for in-depth financial information, please visit our website at
www.phly.com). The organization has 48 offices strategically located
across the United States to provide superior service.

Philadelphia Insurance Companies is the marketing name for the
property casualty insurance operations of Philadelphia Consolidated Holding
Corp., a Member of the Tokio Marine Group. In the United States, all products
are written by insurance company subsidiaries of Philadelphia Consolidated
Holding Corp. Coverage may not be available in all jurisdictions and is
subject to actual policy language. Certain coverage may be provided by a
surplus lines insurer. Surplus lines insurers do not generally participate in
state guaranty funds and insureds are therefore not protected by such funds.
Non-insurance products and services may be provided by independent third
parties.

To locate the office nearest you or for more information,
visit us on the web at www.phly.com or contact our marketing
department at 800-873-4552

About Sapiens International

Sapiens International Corporation N.V. is a leading global provider of
business solutions for the insurance industry. Sapiens is dedicated to
developing innovative insurance solutions for the ever-changing Property &
Casualty, Reinsurance, and Life & Pension business environments. By
leveraging innovative technology, open standards and model driven
architecture, we help insurers create their competitive advantage. Sapiens
operates through its subsidiaries in North America, the United Kingdom, EMEA
and Asia Pacific. For more information, please visit www.sapiens.com,
or contact us at info@sapiens.com.

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.

Media Contact:

Osnat Segev-Harel, CMO, info@sapiens.com, +972-8-9382721

Media Contact: Osnat Segev-Harel, CMO, info at sapiens.com, +972-8-9382721