GIANT Contract Win with Takaful Insurance

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