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Acturis set to double in size after expanding system's capabilities

01 August 2008

by Sarah Hills

Software house Acturis plans to double in size by developing its system to serve managing general agents (MGAs), insurers and the healthcare market.

The software house identified a number of key initiatives to maintain its 50% year-on-year revenue growth, and said it was on track to generate more than £2.5m of operating profit and £10m of revenue in its financial year to September 2008.

Acturis has signed up healthcare broker Jelf, and said it had been working on connectivity between brokers and insurers.

Theo Duchen, co-chief executive officer at Acturis, said: "There are no initiatives for connectivity between brokers and insurers in healthcare. Our aim is to help healthcare brokers become more efficient, and to standardise processes across their branches. The next step will be to implement what exists in the commercial market - a system-to-system link".

Meanwhile, Acturis claimed it would also focus on providing insurers and MGAs with an underwriting platform to distribute products direct or through brokers and agents.

David McDonald, co-chief executive officer at Acturis, commented: "Entering the healthcare sector is a medium-term initiative - but that will take time. Our immediate focus will be on the work we are conducting with MGAs and insurers. That has given us a new avenue for growth, in addition to our continuing work with brokers".

The software house also confirmed that it would be increasing its web presence and capabilities. "Our strategy is to provide the whole system to distributors, whether they are networks, brokers or MGAs. They will have a web presence that connects into their office system directly, allowing them to transact business as usual. However, our system will also connect into the insurer's," Mr McDonald said.

"With our offering, if an insurer altered its product rating, it will be changed once across all brokers and channels, because the web and the broker office will be assessing the same product - gaining greater efficiencies for insurers."

Insurance Age


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