18 October 2017
Register now

Ilog invests in Prima Solutions

13 October 2006  |  2096 views  |  0 Source: ILOG

ILOG (Nasdaq: ILOG; Euronext: ILO, ISIN: FR0004042364) today announced it will pay euro 3.3M ($4.1 million) to acquire 33 percent ownership in Prima Solutions, a Paris-based provider of insurance software platforms.

The move is expected to strengthen the partnership between the two companies and support the deeper penetration of ILOG's business rule management systems (BRMS) in the insurance industry through a closer business and technical relationship. Prima is also an ILOG independent software vendor (ISV) partner.

Prima Solutions' domain and technical expertise in the insurance space is captured in Prima IBCS(TM), an extensive insurance object model that makes it easier and faster for insurance carriers to build underwriting and claims processing applications. The model is designed to reduce the costs and risks associated with the deployment of a distributed Service Oriented Architecture (SOA) through an incremental approach. It is the result of several years of R&D by insurance experts and object-oriented specialists and documents over 100 core processes and 1,000 classes spanning Life, Property & Casualty and Reinsurance. Prima's customers include Kiln, Farm Bureau, B2V, CNP Assurances, Swiss Life, Groupama / Gan and AGPM.

The agreement will have no material impact on ILOG's net revenues or operating expenses and the transaction is not expected to have a significant impact on the company's FY07 net income.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.com visit www.innotribe.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15457 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8656 views comments | 16 tweets | 22 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
8230 views 0 | 8 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7717 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6921 views comments | 9 tweets | 17 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job