24 March 2018
visit www.ebaday.com

Ilog invests in Prima Solutions

13 October 2006  |  2119 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.ebaday.comVisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin at 50,000 USD?
14746 views 0 | 8 tweets | 5 linkedin
BBVA tests 'invisible payments' technology at inhouse cafeBBVA tests 'invisible payments' technology...
12194 views comments | 16 tweets | 35 linkedin
RBS hatches plan to create digital challenger bankRBS hatches plan to create digital challen...
11834 views comments | 12 tweets | 23 linkedin
Barclays partners seven watch brands for contactless timepiecesBarclays partners seven watch brands for c...
10725 views comments | 14 tweets | 32 linkedin
Germany's N26 readies for US launch with EUR110 million capital injection led by Allianz and TenCentGermany's N26 readies for US launch with E...
8703 views comments | 15 tweets | 10 linkedin

Featured job

Singapore (or Hong Kong)

Find your next job