Business process management specialist Singularity has won a major contract with London-based Tokio Marine Global, a subsidiary of Japan’s largest and longest established non-life insurance company, Tokio Marine and Nichido Fire Insurance.
The deal is Singularity’s first in the London Insurance market. It calls for Singularity to streamline the Japanese firm’s key business processes. The Northern Irish firm, which also specialises in case management and workflow software, has 240 staff and offices in Derry, Belfast, New York, London, Singapore and Hyderabad.
Singularity says it beat off rival tenders from some of its largest competitors, including Dallas-based Global 360, K2 of Washington and Ultimus of North Carolina.
Tokio Marine Global will use Singularity’s software to automate underwriting processes before writing or renewing insurance business. The firm will 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.
Steve Perkins, IT Manager of Tokio Marine Global, commented: “We will be able to achieve real improvements in our operational processes through working with Singularity”.
Singularity CEO and founder Padraig Canavan noted: “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”.
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