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Bank Software Player Silverlake Targets Insurtech | Fintech Finance

March 3 2022

Bank Software Player Silverlake Targets Insurtech

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Southeast Asia banking software developer Silverlake Axis is targeting a new market: Insurtech. The Singapore-listed developer, founded in 1989, already provides software services to 40 percent of Southeast Asia’s 20 largest banks.

On Thursday, the company said it launched a subsidiary called Fermion to provide “white label” insurance software architecture to clients, which will likely include banks. The software can be customised to individual clients; Fermion will also provide management and consultancy services with the software architecture.

Tapping a CEO

Peter Miller, an insurance technology specialist, was appointed CEO of Fermion; he was previously the CEO of Malaysia-listed Tune Insurance and CEO of Tune Money. Fermion is already in talks with “a few” customers, a representative told finews.asia. The platform Fermion develops will handle the sales-to-claims business, while also generating analytics using artificial intelligence, the company said in a press release Thursday.

“Insurance products have become transactional as a core product to upsell across all sectors, including banking & financial services”, the company said, adding customers often expect to be offered insurance products during other transactions.

 

People In This Post

Peter Miller | Fermion Group Chief Executive Officer | Fintech Finance

Peter Miller

Fermion

Companies In This Post

Silverlake Axis | Fintech Finance

Silverlake Axis
Fermion | Fintech Finance

Fermion
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