Silverlake Axis has formed Fermion Group, a Singapore-headquartered entity building insurance ecosystems to meet the needs of banking, financial services and insurance sectors.
Fermion identifies and creates ways for businesses to integrate insurance ecosystems into customer journeys, the company said in an announcement.
Its solutions include software-as-a-service end-to-end collaborative exchange platform extending from sales to claims, generating analytics with artificial intelligence for every property and casualty (P&C) product, as well as digital customer engagement technology solutions covering life, health and long-term savings.
Silverlake Axis launched Fermion as its insurtech ecosystem platform back in February 2019. It acts as a platform consolidator to connect partners and participants to the ecosystem to offer complementary services across the insurance value chain.
Fermion Pte Ltd is the holding company of Silverlake Axis’s insurance technology business established in 2021. It has locations in Southeast Asia, Hong Kong, Japan and the UAE.
Fermion incorporates the capabilities, expertise and technology solutions of cloud computing platform Merimen and digital engagement technology solutions provider Cyber Village to extend the enterprise technology software and services that Silverlake Axis offers into the insurance sector.
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The Fermion Group currently works with over 150 insurers in three primary ecosystems — health and wellness; P&C and long-term savings and protection. It processes over 150,000 claims a month through more than 12,000 ecosystem partners.
“With Fermion, we are revolutionising the insurance ecosystem by providing digital solutions and analytics at every touchpoint, enabling banks, insurers, and financial services distributors to build differentiated insurance ecosystems into almost any enterprise or industry,” says Silverlake Axis group managing director Andrew Tan.
As at 4.41pm, shares in Silverlake Axis are trading 0.5 cents higher or 1.66% up at 30.5 cents.
Photo: The Edge Singapore/Albert Chua
