"Ibexi and iAP enter into strategic partnership to expand to the South East Asian region"

Swiss Re Research had forecasted in their latest study on insurance markets in Asia (Sigma 4/2001) that Asia - excluding Japan - is expected to see average real growth of non-life business increase by 7.9% until 2005. This will be surpassed by expected growth of life insurance premium of 8.9% per annum over the same period of time. Globalisation combined with gradual liberalisation of the insurance industry is creating new market opportunities, on one hand, but also increased competition for both life and non-life insurers, on the other hand. This is a global trend but is particularly true for the Asian market. Hence, insurance companies of all sizes are searching for innovative ways to acquire new customers, retain existing customers, improve profit margins and better manage their risk profiles. Overall, the effort is to increase productivity and control costs while enhancing customer satisfaction.

In order to meet these objectives, Insurance companies in Asia have relied on IT to varying extents. But, the new reality has made it imperative to embrace IT based automation in a more holistic fashion to differentiate themselves from the competition. Ibexi Solutions Pvt. Ltd. (IBEXI) is a boutique consulting company set up in the year 2001 to address such strategic automation issues for Insurance companies in Asia. With a mission to provide high value adding consultancy to insurance companies, IBEXI Solutions Pvt Ltd was founded by a team of consultants who have extensive work experience automating leading Insurance companies in the Asia Pacific region for the past several years. "We realised that many regional insurance companies were looking for a vendor-neutral consulting partner who could help them choose and implement a combination of software, tools and technologies best-suited to meet today's needs and, at the same time, offer long-term investment protection," says Ashok Bhavnani, CEO of IBEXI.

In the ASEAN region, there has been need for players who are physically close to the customer and also possess knowledge of local business environment. In order to meet these market needs, IBEXI has chosen iAP Pte Ltd (iAP), headquartered in Singapore, as its regional partner in order to expand to South East Asia. iAP was setup in the year 2002 to provide Project Management and value-added IT Infrastructure solutions offering high performance, high availability and optimum security. Explaining the reason for the strategic partnership with iAP, Ashok Bhavnani highlights "Due to iAP's market strengths, we chose it as our right partner to promote IBEXI's services and to enable us in offering "total solution" to customers based on specific needs".

Lax Sankar, Managing Director of iAP complements Ashok Bhavnani's comments "IBEXI has a proven track record specifically in the area of business intelligence systems which is relevant to most insurance companies in Asia. Also, IBEXI is unique as it focuses only on Insurance vertical thus allowing its team of consultants to represent a niche combination of business and technical skills". Lax Sankar further adds, "In partnership, iAP and IBEXI are confident that we can provide the right suite of system services to empower Insurance companies to raise their competitiveness. Over time, our vision is to provide turnkey projects and meet the growing need for strategic outsourcing in the ASEAN insurance market".

About IBEXI

Ibexi Solutions Private Limited is a specialist consulting firm focusing exclusively on program implementation of enterprise-wide Insurance applications, Insurance Business Process Consulting & Business Intelligence solutions. IBEXI has chosen to specialise in the insurance domain to bring to its customers a unique combination of Insurance business processes & IT Analysis & deployment skills. . IBEXI's consultants have hands-on working on many popular life and non-life insurance packages e.g. Amarta, Ingenium, Life Asia, Policy400, X-Gen, Premia and Group400.

IBEXI also provides implementation support and/or development services to Insurance companies looking for customised solutions. Its list of customers include well respected industry names like Royal Sundaram Alliance Insurance, Max New York Life Insurance, HDFC - Standard Life Insurance, Ing Vysya Life Insurance, Swiss Re Shared Services Pvt Ltd and PAN Insurance Brokerage Services Limited.

For more information please visit www.ibexi.com

About iAP

Infotech Asia-Pacific Partners (iAP) Pte Ltd is a company incorporated in Singapore to provide cost-effective IT Solutions to help enterprises derive strategic advantage in their business.
iAP focuses on providing "horizontal" solutions like IT Infrastructure specially WLANs, E-Business Applications, Project Management and Embedded Systems. The current Industry "vertical" focus for iAP is the Financial Services Industry.

iAP believes that a good IT Infrastructure is one of the key success factors for every enterprise to gain a quantum competitive advantage in an increasingly competitive world. E-Business is the bedrock on which an enterprise can promote collaborative working among its employees and partners, improve their productivity and efficiency, lower operational costs and improve customer service. As enterprises upgrade, change and add new components to their IT infrastructure or embark on projects for their customers, effective Project Management becomes vital for the success of their endeavors.

iAP is committed to providing its customers with cost-effective and yet quality solutions. This is made possible by iAP's panel of specialists who are experts in their respective fields with many years of experience. By using best practices in the respective fields these specialists ensure that customer projects undertaken by iAP are delivered in the most cost-effective and efficient manner.

For more information on iAP and its solutions, visit http://www.iap-partners.com.

Disclaimer: IBEXI, iAP-Partners and all other names are trademarks or registered trademarks of their respective companies.

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