Mitsui Sumitomo Insurance selects Singularity for Electronic Market Reform

London, England, 23rd February 2009

Mitsui Sumitomo Insurance (London Management) Ltd, “MSILM”, part of one of the world's largest general insurers, MSIG, has selected BPM software vendor Singularity to automate key processes at their London operation.  The deal is the second Singularity has announced in the past month in the London Lloyd's Market, coming a week after the announcement of a contract with Tokio Marine Global.  MSILM chose Singularity after a rigorous competitor evaluation, based on their track record in the London Insurance Market, the company's time-to-value guarantee and Singularity's integration to a range of Microsoft products.  Singularity now has the two largest Japanese non-life insurance companies as customers, in addition to a number of insurance sector contracts announced in late 2008.

An initiative called the London Insurance Market Reform programme has defined a set of guidelines for electronic submission and agreement of contract endorsement (known as Electronic Market Reform Contract Endorsement or eMRCE). As part of MSILM's adoption of eMRCE, they will use Singularity's Business Process Management software to streamline and accelerate their underwriting processes. MSILM will also use the software to coordinate interactions with brokers and automate the review and peer approval of key insurance documents. Singularity's integration with Microsoft SharePoint Office Server, SQL Server and most other major Microsoft technologies was a key element in winning the contract.

“Singularity was chosen because of their technology, their people and their focus on delivering value”, said Shaun Moloney, Head of Information Services at MSILM.  “We are committed to Market Reform and to continuously improving the efficiency of business processes for underwriting; Singularity will help us achieve that”.

“Winning this contract with MSILM is a huge stamp of approval and we are absolutely thrilled”, said Padraig Canavan, CEO and founder of Singularity.  “We're building a client-base of some of the world's top insurers and we hope to continue this success in the coming year by making sure our customers obtain real business value as soon as possible”.

About Mitsui Sumitomo Insurance (London Management) Ltd:
Mitsui Sumitomo Insurance (London Management) Ltd (MSILM) is part of Mitsui Sumitomo Insurance Group Holdings Inc. Mitsui Sumitomo Insurance Company Ltd. of Japan (MSIJ) is one the largest general insurers in the world.  MSIJ was the first Japanese company with an established presence in Lloyd's of London, the world's leading specialist insurance market.
In the UK, MSILM has established an outstanding reputation for a uniquely innovative approach to underwriting, risk engineering and claims management.  For more information please visit http://www.msilm.com/about_us.php

About Singularity
Singularity increases the performance and agility of business processes by rapid implementation of its industry-leading Business Process Management (BPM) products.

Singularity’s mission is to populate the world with agile organizations. As the leading Business Process Agility specialist we today serve clients in over 30 countries from our offices in London, New York, Singapore, Ireland and India and through our network of partners globally. Acclaimed by leading industry experts, as the best in our field, we provide a unique combination of thought leadership and practical help that creates a new generation of successful organizations.

For further press information please contact Kathryn McDevitt at Singularity.
Email: marketing@singularity.co.uk, or telephone: + 44 28 71 267767. For more information, please visit http://www.singularitylive.com or http://www.singularity.co.uk

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