Contemi, which provides innovative solutions for insurance companies in Asia and Scandinavia, expanded to Vietnam in 2011

Singapore-based Triple P Capital, an impact investor focussed on non-banking financial services investments in Southeast Asia, announced today it has fully acquired the Contemi Group, which provides tech solution for insurance companies.

Transaction details were not disclosed.

According to Allan Pedersen, Partner of Triple P Capital, the most successful insurers today are consistently expanding their investments in IT, particularly around middle and front-end solutions and customised developments.

“These increased investments are vital for insurers to be able to take advantage of all the exciting new business, partnership and efficiency opportunities, new technology and changing customer habits are enabling. We found that Contemi has outstanding solutions and services for participating in this growth market for both Europe and Asia,” he added.

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Founded in 2001 in Norway and the UK, Contemi provides innovative solutions for insurance companies in Asia and Scandinavia. Over the years, Contemi has developed solutions for leading players like Trygg-Hansa, RSA, Codan, Vardia, WaterCircles, Gjensidige, Gabler, Singapore Life and many others.

In 2011, Contemi expanded to Vietnam.

“Today’s modern insurers are adopting Open Source in their IT architecture at rapid pace and we think the industry is ready to see the benefits of a proper Open Source Core Policy System and willing to deploy it,” said Karl Morten Busk, CEO of Contemi.

“In Contemi, we see a company that combines high-quality insurance solutions with the capacity to provide fast solution designs and implementations. In addition to those, Contemi has a robust set of clients in both Europe and Asia, making them a leading IT insurance firm that is ready to shoulder the challenges of digitalisation in the insurance sector – particularly in Asia where many emerging markets still need to ramp up financial inclusion and literacy,” added Pedersen.

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