NTT DATA Acquires FirstApex

Insurance Solution for Property and Casualty

~ Global Delivery Centre in Bangalore to support product development based on J2EE and SOA technologies for Insurance sector across APAC ~

NTT DATA Group recently acquired 79.7% equity interest in FirstApex, a leading SEI CMM Level 4 certified provider of enterprise-wide IT solutions and services dedicated solely to the Insurance Industry. FirstApex, with operational headquarters in Bangalore, will add specialised domain expertise and product development capabilities to the service delivery expertise of NTT DATA Group.

FirstApex uses J2EE technology and SOA model to offer distinctive product offerings such as FirstGen Neo, FirstRe Neo, FirstLife, X-GROUP for the insurance sector in the APJ region. With its vast knowledge and experience of over three decades in the region, it conceptualises, creates and delivers specialised IT solution to meet the needs of insurers, reinsurers and insurance intermediaries. The acquisition will help NTT DATA Group in launching Property and Casualty (P&C), and Re-Insurance solutions in significantly growing its insurance business across Asia and other regions.

Mr. Minoru Suzuki , NTT Data said, “FirstApex uses its strong insurance domain expertise built over three decades and leverages state-of-the-art technologies, offshore development and other services dedicated to the insurance industry to deliver world-class solutions to its customers. It will now serve as a core company for NTT DATA Group to accelerate its global business expansion in the fast growing Asian P&C and Re-insurance market to begin with and other markets after that.”.

The Asian insurance industry is on an accelerated growth path in the last three years. The growth is driven particularly by the  thrust on globalisation, with  participation of local and foreign private players and untapped, underinsured markets like India and China as compared to saturated markets of Europe and US. The positive economic growth, the higher saving rates in the region, interest in long-term financial products and services, and a larger long-term economic shift will further fuel growth in APAC. This entails need for state-of-the-art technology and innovative products to support new business across life, non-life, re-insurance and group-life domains.

One way of supplementing the aggressive growth plan in the region will be based on strategic and selective inorganic growth through mergers and acquisition.

Mr. Suresh Prabhu, Chairman, FirstApex said, “The Support of NTT DATA Group will help in expanding the global customer base and enhance further product development and implementation know-how with its well-established and tested methodologies built up through their successful history in the IT industry. Our Global Delivery Centre in Bangalore with its abundant technical resources will enable us to intensify our R&D efforts and provide our customers a better solution offering.”

With over 120 successfully completed projects across the globe in the last two  decades, FirstApex aims at providing innovative and distinctive IT solutions that help insurers derive benefits by meeting their current and future needs. Customers ove r this period include  Mitsui Sumitomo Insurance, Lloyds Japan, NIPPONKOA Insurance, Royal and SunAlliance Group, HDFC Ergo,  Marsh and Allianz Group  to name a few.

NTT DATA Group is rapidly expanding global business to become the "Global IT Innovator". Specialising in the IT Services segment by providing high quality IT solutions and consulting services to  customers worldwide, the NTT DATA Group has established global support network that covers 65 cities in 21 countries worldwide.

Mr. S. Sivakumaran, Group CEO, FirstApex said, “Based on established operations in Japan, Korea, China, Middle East and India, FirstApex has ambitious plans to expand throughout Asia as well as the Middle East and Eastern Europe. With its global presence, reputation, and extensive IT solution and services resources, NTT DATA is an ideal partner. Further, FirstApex’s advanced J2EE-based enterprise software and specialized operations center in Bangalore will serve as a ‘springboard for NTT DATA Group's entry into Asia's Property and Casualty and Re-Insurance Markets.”