Homegrown financial services company Singlife with Aviva has teamed up with FIS® to digitize its back-office operations, beginning with its actuarial function.
Singlife, a technology-empowered financial services company, is one of Southeast Asia’s largest and most innovative insurance companies and serves over 1.5 million customers in Singapore.
The FIS Insurance Risk Suite (formerly Prophet) boasts a powerful and controlled production environment for insurance risk management and actuarial modelling. This is combined with an inbuilt distributed database and an integrated data management solution.
FIS will host and run this platform for Singlife as part of a managed cloud service and the implementation will see Singlife achieve compliance with the IFRS 17 accounting standard by 2023.
The next phase of this partnership will focus on business process automation.
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