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.”