Focus Solutions Group PLC
5 June 2001
5 June 2001
Focus Solutions announces first licence agreement in South Africa
Focus Solutions Group plc, the leading provider of software products and
e-commerce tools for the financial services industry, announces today that it
has signed a major licensing agreement with Spotlight Interactive, a leading
South African software supplier, to sell the Focus XML-based data capture
toolkit, 'goal:technology' to South African insurers.
Spotlight Interactive is the leading technology supplier in the South African
financial services industry and specialises in the provision of financial
planning software for financial advisers. It has a user base of approximately
8,000, including brokers, tied agents and direct sales force. Seven out of the
top eight South African insurers use its technology.
The agreement is in line with Focus's strategy of expanding into overseas
markets through partnerships where the Company believes there is considerable
demand for its products. The announcement follows the licensing agreement
announced recently with MPO Group Inc for the use of goal: technology in North
America.
Under the terms of the agreement, Spotlight Interactive will use goal:
technology to complement its front and back office solutions for the life and
investment market: Spotlight 2001 and Portfolio 24.
The processing of new business applications in South Africa is largely
paper-based. goal: technology will enable South African insurers to capture
and validate the complex data needed to process and complete insurance
proposals electronically. Electronic processing of new business applications
will produce considerable time and cost savings. Focus and Spotlight are
already working alongside the international insurance standards body ACORD
that operates in the US, Canada, South Africa and Australia.
John Streets, Chief Executive of Focus Solutions, said:
'I am delighted to announce today our second overseas licensing agreement in
just over two weeks. This agreement with Spotlight Interactive marks a
significant step forward in the development of our international strategy.
Together with our recent partnership with MPO Group this should result in the
adoption of goal: technology by some of the leading life insurance companies.'
Philippe Moratonas, Chief Executive of Spotlight Interactive, said:
'Our work with Focus will add considerable value to our products and
customers. We chose to work with Focus because of their product but more
importantly chose to partner with Focus in South Africa because of their
reputation in the marketplace and accreditation with ACORD.'
Enquiries:
Focus Solutions Group 01926 468 300
John Streets
Claire Forrest
Citigate Dewe Rogerson 020 7638 9571
Chris Barrie
Sara Batchelor
Notes to editors
1. Focus Solutions Group is a leading provider of software products and
e-commerce tools for the financial services industry. The Company's
products support the sale and delivery of financial products
electronically via existing sales channels such as the independent
financial adviser (IFA) market place and direct sales. Focus's XML-based
toolkit is called goal:technology. This enables 'intelligent' electronic
proposals, which replace traditional paper-based application forms, to be
constructed quickly and efficiently by the insurance companies and
completed easily by the end user. It will allow the life, pensions,
savings and investment market to move away from the costly paper-based
sales process to electronic trading.
2. Focus has sold goal:technology to 66% of the UK's leading life and pensions
companies including Royal & Sun Alliance, Norwich Union Life, Legal &
General, Standard Life, Scottish Provident, NPI and Scottish Equitable and
Friends Provident. Focus has to date also partnered with three of the UK's
leading internet service providers specialising in financial products,
providing software to enable e-commerce transactions: Assuresoft, Exchange
FS, and Synaptic Systems. Last month Focus announced a licensing agreement
with MPO Inc for a new server based version of goal:technology that
supports IBM MQSeries and WebSphere, to be used in the North American
market.
3. Spotlight Interactive was incorporated seven years ago and today, it is the
leading software supplier in the South African financial services
industry, specialising in the provision of financial planning software for
financial advisors. Spotlight is very quickly becoming a common trading
platform for the Life Assurance Industry in South Africa. The company is
centered on a product called Spotlight, which in the first six months of
release became the leading solution in the industry. The company is
founded squarely on the strength of its customer base, which has over the
past two years exceeded all expectations.