KG Information Systems (KGISL) is building its insurtech prowess with the acquisition of Malaysia’s AETINS which offers both Islamic and conventional insurance solutions.
KGISL has been in Malaysia since 2006, offering point of sale (PoS) and claims management solutions for the non-life insurance segment. Acquiring AETINS allows the IT company to bring in core insurance product and insurance solution framework into its product portfolio. More importantly, it opens up doors into new jurisdictions and market segments: AETINS has a clientele comprising of insurance operators in Asia Pacific, the Middle East and North Africa, and its product suite covers all lines of business – individual life, group life, investment-linked and general – on both the Islamic and conventional space.
“I am super excited about this acquisition. AETINS’ core insurance products, Takaful offerings and good presence in the Middle East market are the missing pieces in KGISL’s Insurance offerings. It would have taken years for us to build this capability, so the acquisition is a perfect fit for KGISL. The employees of AETINS share the same integrity, culture and value systems of KGISL, so the integration will also be smooth and quick,” shared Prassadh Shanmugam, the director and CEO of KGISL.