Question – Why don’t we start by talking about Contemi, the solutions you provide and the work you’re up to over there at the moment? Tell me more!
Answer – Contemi is a global fintech house with a primary focus on Southeast Asia, ANZ and EMEA. We have been at the forefront of fintech digitisation for more than two decades, delivering digital solutions for Wealth Management, Post Trade and Insurance. Our focus and investments in recent years have been towards SaaS, microservices and no-code, and skewed towards insurance. We have built one of the strongest insurance platforms available to the industry today. Our focus with Seamless.Insure has been to build a complete platform that delivers flexibility, usability and speed to its user, while also enabling third-party applications in a seamless ecosystem. We have built a solution that can fit the needs of insurers as well as MGAs, with a simple selection and de-selection of modules. In addition, the no-code approach makes it highly usable for the business teams. We are constantly working with our clients on adding functionalities to each module, so we have a system that is industry tested.
Question – Contemi is a global solutions provider, with 11 offices across the UK, Norway, Singapore, Hong Kong and Australia, to name but a few! What are the strengths and benefits of being so widespread?
Answer – We have strategically placed our offices close to clients and to talent. Being close to the markets we serve ensures that we understand their requirements better and can offer them solutions that solve their specific challenges. Having five Development Centres across time zones, combined with customer facing resources close to customers, is a real benefit in terms of availability, support, and customer insight.
Question – What challenges have Contemi faced in recent years, and how have you responded?
Answer – I would say that the challenges we face are typical of that of many scale-ups. We knew these would come, so we started to prepare a while back with a new organization structure, process improvement and getting guidance from experienced experts. Having said that, there’s no easy fix to ensure that we hire the right talent and scale operations. It requires focus and a lot of hard work.
Question – Contemi have a consistent presence at industry events and conferences around the globe, such as Insurtech Insights, Insuretech Connect, Insurtech Summit Australia and the UK MGAA Annual Conference. What were your event highlights from the last 12 months?
Answer – Events are a good source of inspiration for us and validate our product offering. For insurance and tech enthusiasts like us, it’s also great to meet likeminded peers! At many of the events we’ve attended in the past – and in the interactions we’ve had with insurers and MGAs – it’s been clear that the insurance sector is increasing IT as a percentage of total costs and switching more to SaaS. Flexibility offered by these applications helps minimise or eliminate manual work arising from legacy processes and systems.
It’s positive that we’ve moved on from talking about ‘buzzwords’ at events. We’re now able to see clear examples, verifying McKinsey’s Insurance 360° benchmark which provided strong evidence of the positive business impact of targeted IT investments. In many of the conversations we’ve had, business leaders have been wanting to invest in modern technologies like SaaS, AI, and microservices; not just to increase customer experience and their business value, but also to lessen the insurance productivity issue and reduce underinsurance.
Question – Looking to the future, what might 2023 have in store for you and the wider team at Contemi Solutions?
Answer – We have built a solid base with our investments and growth in new business applications over the last year, utilising our long insurance experience. We have a good team in place, and have entered 2023 with plenty of zeal. More clarity has been set towards the vision and mission of our company, and we are ready to work hard to achieve seamless information flow for the benefit of our customers and their customers, too. 2023 will certainly deliver many challenges, but this also means many opportunities will arise as well. Looking at the current situation, I am positive that 2023 will lead to growth for our customer base, company, employees, and partners.
These questions were answered by our Group CEO, Daniel Thafveline, in MIM58 – Edition.