Sapiens Enhances its RapidSure P&C Solution with IT-Freedom's ICE Claims Solution

The Partnership Complements RapidSure as it Becomes a Full Insurance Suite

CARY, North Carolina, January 31, 2011 - Sapiens International Corporation N.V. (NASDAQ and TASE: SPNS), a global
provider of innovative software solutions for the insurance industry and
a member of the Formula Group (NASDAQ: FORTY and TASE: FORT), today
announced it has entered into partnership with IT-Freedom, a specialist
provider of claims solution for the property & casualty (General Insurance)
insurance industry. The partnership agreement enables Sapiens to compliment
its RapidSure policy administration offering with IT-Freedom's ICE Claims
solution.

www.newscom.com/cgi-bin/prnh/20100811/HS4909

Sapiens' RapidSure is a next generation policy administration system with
an innovative user interface and flexible integration adaptors. RapidSure is
built using Service Oriented Architecture (SOA) to create a highly
configurable insurance solution supporting the full policy lifecycle, from
quotation, new business, and endorsement through to renewal. It utilizes web
services and portal technology to create a flexible multi-channel,
multi-brand, and multi-lingual user interface coupled with a powerful policy
transaction engine and an agent portal.

IT-Freedom's ICE Claims(TM) can now be easily integrated with Sapiens'
RapidSure Policy Administration solution, to provide insurance carriers a
modern suite of best-of-breed P&C software solution. It enables insurance
carriers and third party administrators to make their operations more
efficient and to significantly reduce the cost of settling claims. New
processes can be quickly configured for the system by business users without
requiring specialized programming skills, ensuring that insurers are not
locked into expensive technical support agreements.

"The ICE Claims(TM) product meets the demands of today's changing
marketplace to allow claims to be handled more efficiently and to better
manage spiralling costs. It has been integrated with RapidSure to provide a
complete solution for the modern insurer", said Mick Sargeant, Managing
Director IT-Freedom. Roni Al-Dor, Sapiens President and CEO, added: "We are
committed to delivering innovative software to the insurance industry. Our
partnership with IT-Freedom complements the RapidSure solution, expanding our
policy administration offering".

About Sapiens International

Sapiens International Corporation N.V. is a global provider of business
solutions for the insurance industry, helping modernize business processes
and enabling insurance organizations to adapt quickly to change. Sapiens'
innovative solutions are widely recognized for their ability to
cost-effectively align IT with the business demands for speed, flexibility
and efficiency. Sapiens operates through its subsidiaries in North America,
the United Kingdom, EMEA and Asia Pacific. For more information, please visit
www.sapiens.com.

About IT-Freedom

IT-Freedom provides best practice web-based solutions for the
general insurance industry. A wealth of knowledge and experience has been
combined with excellent technical design to produce the ICE suite of
solutions. ICE Claims(TM) helps insurers drive cost from the claims process
and ICE Track(TM) solves the complex problem of managing your business
through the provision of easily obtainable information. 2010 sees the launch
of ICE Policy(TM) to provide full web-based general insurance functionality.
By challenging accepted practices and procedures and harnessing technology we
are leading the change.

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.

Contact:

    Osnat Segev-Harel
    CMO and VP Business Development
    Sapiens International
    Mobile: +972.52.45.70.760
    US Mobile: +1-917.697.5643
    www.sapiens.com
    osnat.se@sapiens.com

Osnat Segev-Harel, CMO and VP Business Development, Sapiens International,
Mobile: +972.52.45.70.760, US Mobile: +1-917.697.5643, www.sapiens.com
osnat.se at sapiens.com