Overseas Licence Agreement
Focus Solutions Group PLC
21 May 2001
21 May 2001
Focus Solutions announces first licence agreement in the US
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 MPO Group Inc, the US e-business
solutions company, to sell the Focus XML data capture toolkit, 'goal:
technology' to US insurers.
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. A new server based version of goal:technology that
supports IBM MQSeries and WebSphere will be used for the North American
market.
Under the terms of the agreement, MPO will use Focus's XML toolkit, known as
goal:technology, as the core of its new internet-based product suite, which it
is building with Canadian systems integrator, LOGISIL. The product is
E-AppCapture, which enables US insurers to capture the complex data needed to
process and complete insurance proposals electronically. E-AppCapture will be
offered to insurers in North America from July.
The processing of new business applications in North America is largely
paper-based. Electronic processing of new business applications will produce
considerable time and cost savings. Focus is already working alongside the
international insurance standards body ACORD and was the first UK software
vendor to be certified to its standards on XML-based products for the US life
insurance industry.
John Streets, Chief Executive of Focus Solutions, said:
'At the time of flotation last year, we stated that we were looking at the
application of our technology in overseas markets. This agreement with MPO
marks a significant step forward in that strategy. Goal:technology will now be
offered to significant players in the North American market. Taken with our
ACORD certification, this agreement should see the adoption of Focus
technology by some of the world's leading insurance companies.'
Tom McCahill, Chief Executive of MPO Group, said:
'This is the story of a successful transplant from the UK to the US. Focus has
used goal:technology to build a new business application processing solution
that is already used by most leading insurers in the UK. We are working
together to guarantee that this UK success will replicate itself in North
America.'
Salim H. Kanji, Chief Executive of LOGISIL Group, said:
'Harmonizing goal:technology with IBM's WebSphere Suite creates a solution
that will integrate easily with back-office and eBusiness applications
currently being used by insurance companies in North America.'
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.
3. MPO Group provides e-business products and practice to enable life
insurance carriers to successfully manage enterprise, end to end business
processes. MPO Group's first product announcements, E-AppCapture and
E-ProposalCapture, leverage Focus Solutions Group's goal:technology and
the ACORD XMLife standards. MPO Group is a privately held company with
offices in Montreal and Philadelphia. More information on MPO Group is
available at www.mpogroup.com.
4. Since 1986, LOGISIL Group (www.logisil.com) has quietly developed into one
of the fastest growing IT consulting firms in North America and Europe.
LOGISIL is a leading architect of traditional and next generation software
solutions and IT training services, and an IBM Premier Business Partner.
As an innovator in business-to-business communications focused on
application development, technical consulting services, application
hosting, and vendor services, LOGISIL provides cost-effective customized
solutions assembled and delivered just-in-time in collaboration with a
growing syndicate of specialized LOGISIL subsidiaries, affiliates, and
partners.