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Acturis gets £5m cash injection from backers

06 February 2003

By Richard Adams

Acturis is to step up its commercial offering for brokers, after securing a further £5m backing from its main capital provider - South African-based Nedcor.

As a result, Acturis said it hopes to be able to offer improved functionality by April, including new integration and scanning technology. Brokers will also be able to create bespoke process paths, including built-in electronic prompts and reminders, according to the software provider.

Acturis, which currently only offers AXA products, including small trades schemes and commercial combined retail products, aims to add Fortis and Allianz Cornhill products in the first half of this year.

The company, which claims to have 400 users, believes the demand for its commercial technology is partly due to its XML messaging functionality.

Sales and marketing manager Simon Ronaldson claimed this was more advanced than electronic data interchange, which links fields according to insurer-specific terms and definitions, because it identifies relevant target fields for brokers through tagging. This is designed to enhance the ease with which brokers can place risks on insurers' extranets through the Acturis system, he added.

"As the number of users on the Acturis broker platform continues to grow, this additional funding allows us to invest in the future of our system," Mr Ronaldson continued. "While the Acturis broker platform has already been fully functional for seven months, we are not standing still and want to move further ahead of our competitors".

Nedcor is understood to have a market capitalisation of over £2bn.

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