Focus Solutions Group PLC
4 February 2002
4 February 2002
Focus extends contract with Skandia
Focus Solutions Group plc ('Focus'), the specialist provider of sales channel
automation for the financial services industry, announces today that Skandia,
the leader in multi-manager investment, has selected Focus's 'goal:technology'
to enable independent financial advisers (IFAs) to complete investment bond
applications via its extranet. Skandia is the first life assurance company to
use Focus's recently developed on-line version of its 'goal:technology' in its
extranet.
Skandia originally purchased 'goal:technology' to capture new business
applications for investment bonds from IFAs via service providers. Focus has
developed an on-line version of 'goal:technology' to enable insurance companies
to offer IFAs, tied agents and consumers an easy way of accessing and completing
a new business application via a web browser. Over 8,000 IFAs have already
pre-registered for Skandia's new processing service which is due to go live in
March 2002.
John Streets, Chief Executive of Focus Solutions Group, said:
'We are delighted to be working with Skandia who is our first customer to adopt
'goal:technlogy' in its extranet. This is the first implementation of an
important part of our strategy, as laid out during 2001, to integrate 'goal:
technology' into multiple distribution channels, such as the Internet and
extranets.'
Anthony Scammell, Senior Ecommerce Manager at Skandia, said:
'Focus's technology will enable us to help IFAs using our extranet service to
speed up the processing of applications. It will also reduce processing costs
because customer information is validated automatically before submission -
minimising errors prior to putting the business onto the books.'
For further information, please contact:
Focus Solutions Group plc 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 specialist provider of sales channel automation
for the financial services industry. The Company's products support the sale
and delivery of financial products electronically via multiple sales
channels such as the internet, extranets direct sales and the independent
financial adviser (IFA) market place. 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 7 of the top 10 UK life and pensions
companies including Royal & Sun Alliance, Norwich Union Life, Legal &
General, Skandia, ZIFA, Aegon, Standard Life, Scottish Provident, Friends
Provident, Scottish Widows and Scottish Equitable. 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, The ExchangeFS, and Synaptic Systems. In May and
June last year respectively, Focus announced a licensing agreement with MPO
Inc for a new server based version of 'goal:technology' to be used in the
North American market and a licensing agreement with Spotlight Interactive,
a leading South African software supplier, to sell 'goal:technology' to
South African insurers. Focus has also recently launched a 'goal:technology'
solution to capture mortgage applications on-line for the mortgage market.
This information is provided by RNS
The company news service from the London Stock Exchange
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