Exhibit 8.1
List of Subsidiaries
| Name of Subsidiary | Jurisdiction of Incorporation | |
| Sapiens International Corporation B.V. | Netherlands | |
| Sapiens Technologies (1982) Ltd. | Israel | |
| Sapiens Americas Corporation | New York, United States | |
| Sapiens North America Inc. | Ontario, Canada | |
| Sapiens (UK) Limited | United Kingdom | |
| Sapiens France S.A.S. | France | |
| Sapiens Japan Co. | Japan | |
| IDIT Europe NV | Belgium | |
| Sapiens (UK) Insurance Software Solutions Limited | United Kingdom | |
| Sapiens NA Insurance Solutions Inc. | Delaware, United States | |
| Formula Insurance Solutions France (F.I.S France) | France | |
| Sapiens Software Solutions (Australia) PTY. Ltd (Former FIS- AU Pty Limited) | Australia | |
| Sapiens Latam S.A.S. | Colombia | |
| Sapiens Decision NA Inc. | Delaware, United States | |
| Sapiens Software Solutions (Norway) AS | Norway | |
| Sapiens (UK) Decision Limited | United Kingdom | |
| Sapiens Technologies (1982) India Private Limited (formerly Ibexi Solutions Private Limited) | India | |
| Sapiens Software Solutions (Poland) Sp. z o.o. (formerly Insseco Sp. z o.o.) | Poland | |
| Sapiens (Poland) Spółka Akcyjna (formerly NCDC Spólka Akcyjna) | Poland | |
| Sapiens Germany GmbH | Germany | |
| Sapiens Iberia S.A. | Spain | |
| IDIT Software Solutions (Sweden) AB | Sweden | |
| Sapiens Software Solutions Istanbul YAZILIM | Turkey | |
| Sapiens SA (PTY) Ltd. | South Africa | |
| SIA Sapiens Software Solutions (Latvia) | Latvia | |
| Sapiens Information Technology (Shanghai) Co. Ltd. | PRC | |
| IDIT Software Solutions Portugal, Unipessoal LDA | Portugal | |
| Sapiens Denmark A/S | Denmark | |
| UAB Sapiens Lithuania | Lithuania | |
| Tia South Africa (Pty) Ltd | South Africa | |
| Sapiens Software Solutions (Singapore) PTE. LTD (formerly Ibexi Solutions Pte Limited) | Singapore | |
| Sapiens Software Solutions (Thailand) Limited. | Thailand | |
| 2397506 Ontario Inc. (dba XSOLCORP) | Canada | |
| Servicios Financieros Experimentales Serfiex, S.A. | Spain | |
| Sapiens Software Solutions (Thailand) Limited. | Thailand | |
| Sapiens Software Solutions (Netherlands) B.V. | Netherlands |