Hong Kong-based insurtech firm Synergy Strategic Solutions has inked a strategic partnership with iNube Software Solutions which offers digital Insurance solutions.

The partnership is aimed at expanding Synergy’s current offering for the insurance space with the addition of niche digital products and micro-insurance platforms that facilitates e-insurance.

Synergy provides digital consulting and insurtech solutions in the APAC region.

The partnership will also strengthen the company’s consulting services, and allow it to roll out new products and off-the-shelf solutions to insurers across Singapore, Malaysia, Hong Kong, Indonesia, Japan, Thailand and Vietnam.

Synergy CEO and founder Pradeep Satya noted: “With technology playing an increasingly critical role in every aspect of Insurance business, traditional Insurers recognise the need for accelerating their digital journey to remain competitive. There is a rising need for modular and well proven agile core solutions in the Insurance sector.

Speaking on the partnership, Satya added: “We have been on the lookout for core products that are easy to configure, quick to deploy and simple to maintain. iNube’s product portfolio was a perfect match. As our clients develop new distribution channels, especially affinity and e-commerce, we intend to co-create best in class solutions and eagerly look forward to being partners in creating value for our clients.”

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By GlobalData

iNube Software Solutions CEO Vinodkumar Iyer said the partnership will provide the company with opportunities to strengthen its presence in the Asian market and explore new customers for its suite of digital insurance solutions.

Iyer said: “Combined with SYNERGY’s advisory in our own product innovation and development, we are confident of drawing out a roadmap that helps us add more value to our existing and new clients.”

In July last year, reports suggested that Synergy was planning to boost its international footprint by entering the Indian insurance market.