HOME GROWN INSURANCE IT SPECIALIST SETS TO EXPAND OVERSEAS

PAC Total Solutions To Showcase Insurance Solutions At World’s Largest WCIT 2008

Kuala Lumpur, May 14 – Home grown insurance IT solutions specialist, PAC Total Solutions (PTS) aims to expand its presence in the global insurance market with the objective of doubling its turnover to RM 17 million this year.

As part of its efforts in gaining wider international exposure, PTS will be showcasing its end-to-end insurance solutions suite in the forthcoming World Congress on Information Technology 2008 to be held in Kuala Lumpur from 18 to 22 May this year.

The World Congress on Information Technology 2008 (WCIT 2008), running on its 16th year, is one of the largest ICT events that incorporates a three-day congress, an ICT exhibition and forums.

According to its Chief Executive Officer, Eric Loo, “We have created a sizeable niche in the local insurance market and this year, we are looking at expanding our global presence to further drive business growth.”

“WCIT 2008 is an excellent platform for us to showcase our innovative technologies and solutions to the international audience and we hope to be able to reach out to our potential customers during the event,” Loo said.

Loo believes there is tremendous growth potential for PTS given that the global insurance market is growing exponentially, particularly in the Asian region. According to Gartner, the insurance industry will spend US $135.9 billion in 2008 on IT, including hardware, software, IT services, internal services and telecommunication.

The company is rolling out its global expansion in phases, starting with Indonesia, Singapore and Thailand by end of 2008.

“We are very focused on delivering good results through our proven, robust and easy-to-use solutions. Our solutions are designed to help insurance companies derive additional value from their technology investments,” said Loo.

PTS’ strengths lie in the company’s 10 years of experience and understanding of the local insurance sector. The company currently offers a wide array of solutions and services designed to meet the different requirements of the insurance industry.

To-date, PTS manages over 900 customers in Malaysia and has three subsidiary companies in Indonesia, United Kingdom and Australia.

PTS is sending its team of experts to talk about its offerings during WCIT 2008. Those interested to learn more, can visit PTS’ experts at Booth 259, Hall 2 at the Kuala Lumpur Convention Center from 19 to 21 May 2008.

PAC Total Solutions與TIA Technology合力推出新保險方案

PAC TOTAL SOLUTIONS PARTNERS TIA TECHNOLOGY TO INTRODUCE NEW INSURANCE CORE INSURANCE SOLUTION

Kuala Lumpur, 14 November – PAC Total Solutions Sdn Bhd (PTS), a member of HeiTech Padu Berhad, is introducing a modern core insurance solution to local insurers through its partnership with TIA Technology, a Danish company specializing in insurance solutions.

Under the agreement, PTS will market and implement TIA Technology’s flagship product called TIA Solution not only in Malaysia but throughout Asia. TIA Solution is a modular, integrated core insurance solution that manages the entire insurance processes that has since been successfully adopted by 45 insurance companies in over 20 countries. These companies include GE Money from Australia, ABN Amro from Netherlands and Mutual and Mutual & Federal from South Africa.

PTS, a MSC-status company specializing in insurance and automotive solutions, will also be providing technical support and training to insurers wanting to adopt TIA Solution in Malaysia and in other Asian countries including Singapore, Thailand and Indonesia.

“Legacy systems can be costly to operate and difficult to be upgraded to meet new business requirements. Increasing business volume and customers’ demand are driving insurance companies to look at modern core system that can help reduce operation cost and meet future business needs,” said Eric Loo, Chief Executive Officer of PTS.

“Our detailed study on TIA Solution revealed that the product is flexible and scalable to meet growing business needs in the different markets as well as able to incorporate different country requirements such as languages and currencies, “ Loo explained.

By implementing a scalable, modern core system like TIA Solution, insurance companies will be able to streamline their work flow, and this in return will improve business efficiency and increase speed to market without the investment in a full-fledged IT department, said Loo.

TIA Solution is designed to cater to new products, distribution channels and future business expansion. It also has the capability to handle thousands of concurrent users with millions of policies in history with a less than 1 second response time.

“Insurers can have access to critical business information by having a single view of important customer-centric data, allowing them to quickly responding to customers’ need and in turn improve service levels,” Loo said.

Loo is confident that there is a strong market potential for TIA Solution in Malaysia as well as in other parts of Asia, as insurers are increasingly seeking for a modern, flexible and scalable customer-centric core system that will be able to grow in tandem with the company’s expansion.

He added that with this partnership, PTS will be able to strengthen its business presence, initially, in Malaysia and into other Asian markets. Commenting on the new partnership, Morten Steiner, Chief Executive Officer of TIA Technology A/S said, “We are pleased to sign PTS as our partner for the Asian region.

PTS has a strong team of skilled and committed professionals who have in-depth understanding of the needs of the insurance companies, thus, making them an ideal partner to promote the TIA Solution and handle the sales and technical requirements of the system.”