Singularity Wins Deal with Japanese Insurance Giant
Singularity has won a major contract with Tokio Marine Global, a subsidiary of Tokio Marine and Nichido Fire Insurance Co Ltd, Japan's largest and longest established non-life insurance company, to streamline its key business processes.
Press Release (PressBurner) Jan 26, 2009 - Singularity has won a major contract with Tokio Marine Global, a subsidiary of Tokio Marine and Nichido Fire Insurance Co Ltd, Japan's largest and longest established non-life insurance company, to streamline its key business processes. Tokio Marine Global 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 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. They intend to roll out the system to automate other key business processes over the next 18 months. Singularity’s product, the Singularity Process Platform, enables organizations 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 they are easy to work with and took the effort to understand our needs, and their software has the strength we require but yet is easy to use”, says Steve Perkins, IT Manager of Tokio Marine Global. “We will be able to achieve real improvements in our operational processes through working with Singularity”.
“We’re delighted to have secured this deal with a company as prestigious as Tokio Marine Global”, said Padraig Canavan, CEO and founder of Singularity. “This win is particularly significant because it continues a series of recent contracts in the Insurance sector, showing that we’re developing real momentum in this market”.
About Tokio Marine Global:
Based in London, Tokio Marine Global Ltd. (TMG) provides direct and facultative property, engineering and speciality treaty reinsurance to multinational organisations and ceding companies around the world. TMG is a subsidiary of the Tokio Marine and Nichido Fire Insurance Co. Ltd., Japan's largest and longest established non-life insurance company. TMG started business on 1 January 2005 with initial capital of £125 million ($232 million). For more information please visit: www.tokiomarineglobal.com
About Singularity
Singularity is a global leader in Business Process Management (BPM), Case Management and Workflow Software, with 240 staff and offices in Derry, Belfast, New York, London, Singapore and Hyderabad. Singularity’s award-winning product helps organizations automate complex business processes, linking human and system activities seamlessly together to achieve business goals. Singularity also provides a range of market-specific BPM solutions to customers in the Telecommunications, Capital Markets and Government sectors. For more information, please visit http://www.singularity.us.com or http://www.singularity.co.uk
For further press information please contact Emma McGinley at Singularity Email: emma.<hidden email> at singularity.co.uk, or telephone: 0044 28 7126 7767
