Fusionex International PLC GIANT Contract Win with Takaful Insurance (0236R)
June 24 2015 - 2:00AM
UK Regulatory
TIDMFXI
RNS Number : 0236R
Fusionex International PLC
24 June 2015
For immediate Release 24 June 2015
Fusionex International plc
("Fusionex" or "the Group")
GIANT Contract Win with Takaful Insurance
Fusionex, an international provider of software specialising in
Analytics and Big Data, is pleased to announce its latest GIANT win
with Takaful Insurance, an Asia based insurance company that
provides both general and life insurance (the "Customer"). This is
a multi-year contract where the Customer intends to scale up its
usage significantly over time, thus considerably increasing the
potential for its initial subscription to expand.
This win further endorses the increasingly strong traction in
Fusionex GIANT, the Group's Big Data Analytics product. The
Customer, established more than 30 years ago and publicly listed on
Bursa Malaysia Securities Berhad, has grown from strength to
strength.
By connecting Fusionex GIANT to the Customer's general and life
insurance systems as well as various other data sources within and
outside of the Customer's organisation, the Customer intends to
leverage on GIANT to reduce the processing time, effort and money
spent on generating consolidated reports and information from its
various business units.
By using GIANT, the existing processing time will be reduced by
up to 70%, giving the Customer a huge advantage. Furthermore, the
generated reports and insights can be accessed via multiple form
factors including notebooks, tablets and mobile phones. This gives
the Customer near real time visibility to its information,
regardless of location and time. The Customer will also be able to
leverage on GIANT's advanced analytics capabilities to derive
actionable insights based on various data sources that can help
provide the necessary foresight needed in arriving at well-informed
decisions.
Cognitive computing is also key to the needs of the Customer,
hence the requirement for GIANT, a state of the art system that
could help it to increase its findings and insights. The Customer
intends to use GIANT to make well-informed decisions based on the
analysis of the trends, patterns of customer preferences and
behaviour across a diverse source of structured, semi structured
and unstructured data sets.
As a pioneer in the Takaful insurance industry, the Customer
constantly makes significant improvements to its corporate
operations to achieve optimum performance. Fusionex GIANT will
facilitate the company's focus on building its business goals and
targeted growth. This also serves as an opportunity for the
Customer to reinforce its business and deliver sustainable
improvements in the company's operational efficiency, in order to
manage the volume of its fast growing business.
Ivan Teh, Fusionex Chief Executive Officer, commented:
"We are delighted with this new win in the insurance space.
Takaful Insurance is an esteemed insurance brand in the market that
views data as a challenge as well as an opportunity. Its senior
management team is forward-thinking and really wants to overcome
the data challenge to better service its policy holders, agents,
partners and clients.
We are excited that Takaful Insurance has chosen Fusionex GIANT
for this initiative and our team will certainly provide it with
great support on its Big Data journey as we look to make this a
great joint success."
Dato' Sri Mohamed Hassan Kamil, Group Managing Director of
Takaful Insurance, commented:
"At Takaful, we recognise the importance of utilising the right
solution to create efficiencies, providing value to the
company.
Fusionex is a reputable name in the Big Data industry and we
strongly believe that this engagement is timely as it not only
facilitates us in managing data challenges, but also positions
Takaful amongst the first few key players in the industry that
utilise such an advanced solution to gain business benefits.
We have seen that Fusionex GIANT is flexible and user-friendly
in nature, where one does not need deep technical skills to be able
to reap the tangible business benefits that come with its usage. We
are very excited at this prospect of leveraging Fusionex's great
technology as we strive to always provide better quality and
service to our clients, and we look forward to seeing what Fusionex
GIANT can do for us and our business in the long run. We are
confident that we will see joint success stories together with
Fusionex."
For further details:
Fusionex
Ivan Teh, Chief Executive Officer Through Buchanan
Yuen Choong Lai, Chief Financial Officer
Panmure Gordon
Fred Walsh, Alina Vaskina, Ben Roberts
(Investment Banking)
Tom Nicholson, Charles Leigh-Pemberton
(Corporate Broking) 020 7886 2500
RBC Capital Markets 020 7653 4000
Pierre Schreuder or Ema Jakasovic
Buchanan
Sophie McNulty, Gabriella Clinkard, Steph
Watson
www.buchanan.uk.com 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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