EmPRO Insurance Company (“EmPRO” or “the Company”), a licensed medical liability insurance carrier based in New York State, saw a 211% increase in electronic payment adoption in its first year of going live with InvoiceCloud’s integrated solution. InvoiceCloud, an EngageSmart (NYSE: ESMT) solution, offers a true SaaS online bill payment solution that is designed to turn one-time e-bill payers into fully engaged self-service customers. In the year following its implementation of InvoiceCloud in May 2021, EmPRO also saw a 7x increase in AutoPay adoption among policyholders.

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EmPRO selected InvoiceCloud’s intuitive solution to improve self-service offerings and expand payment options for policyholders. Through InvoiceCloud, EmPRO policyholders can now pay their insurance bills via digital wallets like PayPal and Venmo, Pay by Text, and Pay by Phone, as well as via traditional methods. The Company has found that these payment options, along with InvoiceCloud’s other easy-to-use features—including scheduled payments, and text and email notifications—have resulted in an improved user experience and increased self-service. And with InvoiceCloud’s customizable resources, EmPRO can run marketing campaigns to encourage customers to utilize its new, flexible payment options.

The digital experience is further improved for policyholders by InvoiceCloud’s direct integration with Sapiens’ OASIS, the Company’s core billing software. Once invoices are available in OASIS, policyholders are notified through various delivery channels and the invoices are transitioned seamlessly to the InvoiceCloud portal, where they can be reviewed and downloaded.

As a result of the increased e-adoption realized with InvoiceCloud, EmPRO has experienced a decrease in call volumes and manual payments, saving their team time and money that can be reallocated to other important projects. EmPRO reported that the combined InvoiceCloud and Sapiens offering made for a smooth implementation and more efficient user experience for the Company’s employees. Processes that were previously completed manually, including importing Lockbox files and reconciling payment information, are now automated, and payments made on the InvoiceCloud portal are quickly integrated into OASIS, so employees always have access to the latest information.

“InvoiceCloud transformed our payments process and allowed us to meet the needs of our customers with intuitive, flexible, and convenient payment options,” said EmPRO Insurance Chief Financial Officer Adam Petersen. “The smooth implementation process, excellent customer support, and reduced manual processes have enabled our busy staff to focus on supporting customers in other critical areas.”

Read more about EmPRO’s story here.

About EmPRO Insurance:

EmPRO is a licensed medical professional liability insurance carrier headquartered in New York State and dedicated to protecting New York’s physicians, healthcare facilities, and healthcare providers. A subsidiary of Physicians’ Reciprocal Insurers (PRI), EmPRO is capitalized with over $100 million and is managed by PRIMMA LLC, PRI’s wholly-owned attorney-in-fact. EmPRO provides New York’s medical community with personalized underwriting services, aggressive claims defense, and effective risk management strategies. Learn more at www.myempro.com.

About InvoiceCloud:

InvoiceCloud, an EngageSmart solution, is a leading provider of online bill payment services. Founded in 2009, the company has grown to be one of the leading disruptors in the cloud-based electronic bill presentment and payment (EBPP) space, helping institutions put customer experience first. By switching to InvoiceCloud, clients can improve customer engagement, loyalty, and efficiency while reducing churn and missed payments in the process. To learn more, visit www.InvoiceCloud.com.

About Sapiens:

Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. Backed by more than 40 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers’ digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn.

About EngageSmart:

EngageSmart is a leading provider of vertically tailored customer engagement software and integrated payments solutions. At EngageSmart, our mission is to simplify customer and client engagement to allow our customers to focus resources on initiatives that improve their businesses and better serve their communities. EngageSmart offers single instance, multi-tenant, true Software-as-a-Service (“SaaS”) vertical solutions, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive, that are designed to simplify our customers’ engagement with their clients by driving digital adoption and self-service. As of December 31, 2022, EngageSmart serves 99,300 customers in the SMB Solutions segment and 3,300 customers in the Enterprise Solutions segment across several core verticals: Health & Wellness, Government, Utilities, Financial Services, Healthcare and Giving. For more information, visit www.engagesmart.com and follow us on LinkedIn.

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Forward-Looking Statements

Certain statements in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on current expectations and assumptions that are subject to risks and uncertainties. All statements contained in this news release that do not relate to matters of historical fact should be considered forward-looking statements, and are generally identified by words such as “expect,” “intend,” “anticipate,” “estimate,” “believe,” “future,” “could,” “should,” “plan,” “aim,” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding anticipated financial performance and financial position, including our financial outlook for the first quarter and full year 2023 and thereafter, and other statements that are not historical facts. These forward-looking statements are neither promises nor guarantees, but involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking statements. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, but not limited to, the following: our inability to sustain our rapid growth; failure to manage our infrastructure to support our future growth; our risk management efforts not being effective to prevent fraudulent activities; inability to attract new customers or convert trial customers into paying customers; inability to introduce new features or services successfully or to enhance our solutions; declines in customer renewals or failure to convince customers to broaden their use of solutions; inability to achieve or sustain profitability; failure to adapt and respond effectively to rapidly changing technology, evolving industry standards and regulations and changing business needs, requirements or preferences; real or perceived errors, failures or bugs in our solutions; intense competition; lack of success in establishing, growing or maintaining strategic partnerships; fluctuations in quarterly operating results; future acquisitions and investments diverting management’s attention and difficulties associated with integrating such acquired businesses; general economic conditions (including inflation and rising interest rates), both domestically and internationally, as well as economic conditions affecting industries in which our customers operate; the war in Ukraine; concentration of revenue in our InvoiceCloud and SimplePractice solutions; COVID-19 pandemic and its impact on our employees, customers, partners, clients and other key stakeholders; legal and regulatory risks; and technology and intellectual property-related risks, among others.

Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect the Company’s operating results and financial condition are discussed in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021, and our subsequent Quarterly Reports on Form 10-Q, as updated by our future filings with the Securities and Exchange Commission (“SEC”). Such statements are based on the Company’s beliefs and assumptions and on information currently available to the Company. The Company disclaims any obligation to publicly update or revise any such forward-looking statements as a result of developments occurring after the date of this document except as required by law.

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