Symbiotic partnership to help improve insurance distribution, spur growth of insurance ecosystems across the entire customer value chain.
04 July 2022, Singapore – Fermion Pte. Ltd. (Fermion) has invested in Singapore’s Ancileo Pte. Ltd. The move is expected to help insurers improve and modernise their models of insurance distribution, as well as forge the way towards a global insurance ecosystem in travel and banking.
By combining resources with Ancileo, Fermion’s global footprint will expand from 10 to 26 markets, and their insurance ecosystems solutions will enter into the travel market. By extension, Ancileo gains access to some 230 banks to potentially transform and bring efficiencies to the processes to bancassurance.
Peter Miller, CEO of Fermion Group comments, “Ancileo’s entrepreneurial spirit and mindset, as well as their technology complement our own business proposition. Combined, our strengths will help insurers everywhere to become more adaptive, creative, and resilient at establishing new distribution ecosystems.”
The investment seeks to help Ancileo accelerate their business’ growth and scale. By pooling resources, both entities are equipped to build and improve insurance ecosystems to the benefit of all players in the insurance industry.
The Ancileo investment will bolster Fermion’s abilities to help businesses to bypass their legacy systems and insurers to adopt new ways to distribute insurance, rapidly increasing the number of partners that can distribute their insurance policies. Together with Ancileo’s solutions, Fermion will help insurers to build digital partnerships that expand their footprint from local to regional and global, focus on personalisation, and become ultra-flexible to serve a multitude of new partners.
Miller concludes, “Our investment in Ancileo arms Fermion with the right ingredients to grow exponentially, as well as expand into the travel and hospitality sectors.”
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Fermion builds end-to-end digital engagement solutions, powered by data and ecosystems. Fermion serves any entity that has insurance in its roadmap for growth, and for others, helps them understand how to leverage the opportunity.
Fermion is a member of the Silverlake Axis Ltd (5CP: SGX) group of companies. Headquartered in Singapore, it operates from locations across Southeast Asia, Hong Kong, Japan and the UAE. Working with over 150 insurers, Fermion builds primary ecosystems, which include Health & Wellness, Property & Casualty, Long Term Savings & Protection.
Martin Lim, Pinpoint PR
+65 8313 1595