Verint Secures $7 Million Contract with a Fortune 100 Insurance Company for AI Business Outcome Expansion and Multi-Year Renewal

Long-Standing Customer Renews for Three-Year Term and Expands with Work Allocation Bot

Verint^® (NASDAQ: VRNT), The CX Automation Company™, announced today a $7 million dollar three-year contract with a long-standing leading insurance customer to deploy the Verint Open Platform in a hybrid cloud mode to drive AI business outcomes.

The insurer embraced Verint’s vision of enabling brands to increase CX automation with an open platform that drives AI business outcomes, now. Included in the deal is the Verint Work Allocation Bot, part of a team of specialized AI-powered bots available from Verint. The Work Allocation Bot leverages AI models and behavioral data to ensure the right work is assigned to the right employee at the right time – increasing workforce efficiency.

“This contract renewal coupled with AI-powered bot expansion is testament to our differentiated open platform vision and ability to help brands increase CX automation at their own pace,” says Verint’s Dave Singer, global vice president, go-to-market strategy. “Large enterprises appreciate the flexibility of a hybrid cloud architecture that enables them to achieve AI business outcomes now without changing their current ecosystem.”

The contract, which was signed in April, was on Verint’s fiscal first quarter roadmap and includes Bundled SaaS and Unbundled SaaS deployments over a three-year term.

Visit Verint Open Platform to learn more.

About Verint

Verint^® (NASDAQ: VRNT) is a leader in customer experience (CX) automation. The world’s most iconic brands - including more than 80 of the Fortune 100 companies - use the Verint Open Platform and our team of AI-powered bots to deliver tangible AI business outcomes across the enterprise.

Verint, The CX Automation Company™, is proud to be Certified™ by Great Place To Work^®. Learn more at Verint.com.

This press release contains “forward-looking statements,” including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.

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