Northern Ireland software firm Singularity has struck a major deal to streamline the business processes of one of Japan’s largest non-life insurance players.
Tokio Marine Global, a London-based subsidiary of Tokio Marine and Nichido Fire Insurance Co, chose Singularity’s business process management software after a gruelling selection process where Singularity was pitted against its largest competitors, including Global 360, K2 and Ultimus.
“This win is particularly significant because it continues a series of recent contracts in the insurance sector, showing we’re developing real momentum in this market,” said Padraig Canavan, CEO and founder of Singularity.
This deal is the latest major insurance sector contract for Singularity, and is its first in the London insurance market.
Tokio Marine Global will use Singularity’s software to automate underwriting processes before writing or renewing insurance business.
It intends to roll out the system to automate other key business processes over the next 18 months.
Singularity’s product, the Singularity Process Platform, enables organisations to automate, streamline and track the movement of tasks through a work process, reducing paperwork and manual steps and improving efficiency.
“We selected Singularity because it is easy to work with and took the effort to understand our needs, and its software has the strength we require, yet is easy to use”, said Steve Perkins, IT manager of Tokio Marine Global.
“We will be able to achieve real improvements in our operational processes through working with Singularity,” Perkins added.
By John Kennedy