Apex wins South Korean insurance giant as customer

BANGALORE: Apex Technologies India, has won an order from SK Life, a South

Korean insurance firm. As per the contract, Apex would provide SK Life with its

scalable, Web based life insurance solution called e-LIFE that would eventually

replace the current Mainframe based legacy system.

This marks an entry for Apex into the Korean market. Korea is the 7th largest

insurance market in the world and second largest in Asia. SK Life is one of the

top life insurance companies with more than $ 1 billion premium, 8 million

policies and around 350 products.

Apex Group, CEO Arvind Tiwary said, "SK Life chose Apex ahead of other

world-class solution providers for the scalability, flexibility and best

practices that our solution provides, which would enable SK Life to offer more

customized products and a faster time to market."

SK Life, vice president IT Yon Syub Mo said, "After several rounds of

discussions and evaluations, SK Life now feels e-LIFE software from Apex to be

the most suitable based on the objectives set for the evaluation. And has

decided to completely change from the current IT systems to a new generation

policy management system."

Apex's current customers include HDFC Standard Life, Old Mutual Kotak Mahindra,
ACE, Mitsui Sumitomo, Allianz, RSA and many others in India and abroad. With the

S K Life win, Apex has strengthened its position as an Indian Software product

company that competes successfully worldwide.