PHOTO - Ramanathan Sathiamutty, managing director, IBM Malaysia.
Malaysia-based life insurance solutions firm DynaFront Systems has chosed IBM PureSystems to launch a new cloud-based service for its clients, which will help its insurance clients reach new markets.
"Southeast Asia is attractive to insurers because of its population's growing affluence," said DynaFront chairman and chief executive officer, Chan Eng Lim. "While the markets are under-penetrated, our clients focus on cost reduction and improved efficiencies while trying to offer innovative ways to reach new clients."
"We selected the IBM platform to launch our new offering because we recognised the game-changing role PureFlex System can play not only in how we run our back office, but also in how it enables the industry to build relationships with its customers," said Chan.
He said that under the agreement signed earlier this year, IBM provided DynaFront with an integrated solution featuring PureFlex System platform, IBM application server, database software and IBM services. IBM Global Financing provided flexible financing that spread the cost of the investment over 36 months and helped DynaFront achieve higher project ROI [return on investment] while conserving cash for other strategic business needs.
Chan said consumers look for and purchase insurance in entirely new ways. "Face-to-face meetings are being replaced with online research and discussion. Insurance firms are focusing more on using new technologies to capture this market change, drive growth and competitive differentiation. The steps required to achieve those goals are more complex than ever.
DynaFront realised that in order to tap on this opportunity they need to provide a flexible infrastructure and charging model, which would enable insurance companies to offer their products via the Web."
"IBM has a proven track record in bringing together its broad range of capabilities -- services, consulting, hardware, software and research -- to help companies of all sizes realise the full value of smarter computing," said IBM Malaysia managing director, Ramanathan Sathiamutty. "IBM PureSystems represents an important advance in the new era of computing. By tightening the connections between hardware and software, and adding unmatched software know-how, PureSystems solutions are designed to help clients like DynaFront free up time and money to focus on innovation".
Cost effective customer interaction
Sathiamutty said the new cloud-ready PureSystems platform made it easier, faster and much more cost effective for DynaFront to improve its interaction with clients, helping them to deepen their knowledge about consumer search and purchase decisions, deploy new services tailored to specific client needs and deliver them via new channels such as Web and mobile.
The virtualised IBM hardware resources help DynaFront speed up service design and help insurers offer attractive pay-as-you-go pricing options.
DynaFront expects that the PureSystems infrastructure will support more than four million insurance users in the first year of deployment and reduce integration complexity by 50 percent, said DynaFront's Chan. The company can expect to launch new products in days, instead of months and address new market demands as they arise. "Dynafront's new approach also enables life insurance companies to offer innovative products online via cloud-secured services."
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