“AeGIS™ software from SeaTech is a Winner in Narai's acquisition of Khoom Khao Insurance”
Narai has chosen AeGIS™ to be their core business process system
Bangkok - Thailand, January 2004. Narai International Insurance Company a member of Liberty Mutual Group (USA) has selected AeGIS™, an advanced and integrated insurance systems developed by SeaTech Consulting Group as their core business process software. The decision was made following Narai’s acquisition of Khoom Khao Insurance in August 2003. Khoom Khao has been using AeGIS™ to support their core business process since January 1998. When two companies similar in size, market focus and commitment to provide the highest level of customer service merged, there will be a consolidation of both companies’ strengths and synergies to take advantage of the increasing market opportunity. Likewise, Narai and Khoom Khao have been looking into their businesses to consolidate the best of what each company had prior to the acquisition. One of the most important elements is to consolidate their IT system, since it is the backbone of the company. After conducting an extensive review of both AeGIS™ and the computer system at Narai prior to the acquisition, AeGIS™ was selected because it is more advanced, offering better features and functionalities; it is also more versatile allowing for ease of customization and enhancements. This is another validation that AeGIS™ is an excellent IT solution for the insurance industry. AeGIS™ has been contributing to the success of Khoom Khao Insurance for many years and now it has added more value to the Narai’s acquisition. With AeGIS™, Narai and Khoom Khao will have a comfortable ride in synergizing their combined operations, with 47 offices serving hundreds of thousands of policyholders across Thailand. ABOUT AeGIS™ AeGIS™ enables insurance companies to manage risks and administer core business processes. The system utilizes leading-edge technology based on Oracle database. AeGIS™ has been successfully implemented in many insurance companies throughout Asia, including China, Indonesia, Thailand, Singapore and Philippines. AeGIS™ is currently being deployed to run over the Internet from a centralized database in the United Kingdom to support the operations of an insurance company throughout Europe. ABOUT SEATECH SeaTech Consulting Group was established in 1990 in California, USA, and has since expanded its operations to China, Indonesia, Singapore, Thailand, Philippines and the UK. SeaTech Consulting Group is a purveyor of information technology solutions to the insurance industry. Its corporate mission is to enhance the competitive edge of business corporations through the effective application of information technology. ABOUT NARAI INTERNATIONAL INSURANCE COMPANY Narai International Insurance Co Ltd was incorporated in 1975 in Thailand. Narai’s primary line of business is automobile insurance serving both individuals and corporations. Narai’s other insurance products include personal accident, fire and cargo insurance. In 2000, Liberty International acquired a significant share in and took management control of Narai International Insurance Company. Narai’s corporate offices are located in Bangkok, with branch offices located throughout the country. ABOUT KHOOM KHAO INSURANCE PUBLIC COMPANY LIMITED Khoom Khao Insurance Public Company Limited was established in 1982 in Thailand. After 18 years of providing Insurance service for Auto, Fire, Marine, Personal Accident and other line of businesses, Khoom Khao was registered in the Stock Exchange of Thailand in 1990 and became a public company in 1994. Prior to the acquisition, Khoom Khao had more than 400 staffs in 20 offices and service centers in Bangkok and major provinces all over the country. In 2003, Liberty through Narai acquired a majority share of Khoom Khao. ABOUT Liberty Mutual Group Liberty Mutual Group is a diversified worldwide insurance service organization. Founded in Boston in 1912, the company is one of the largest multi-line insurers in the property/casualty field. Liberty Mutual Group has over 900 offices and 37,000 employees Worldwide. With $14.5 Billion in consolidated revenues, Liberty Mutual is ranked no 129 among Fortune 500 list of largest US companies. For more information, contact: SeaTech Consulting Group Tel +62.21.5790-3833 Fax +62.21.5790-3889 e-mail: marketasia@seatech.com