SINGAPORE:- In a bold move to accelerate its digital transformation strategy, HNB General Insurance (“HNBGI”) has announced the launch of Project Phoenix, a transformative initiative in collaboration with Azentio Software to implement a world-class Core Insurance System. This ambitious project marks a significant milestone in HNBGI's digital transformation journey, promising unparalleled value to its stakeholders.

Project Phoenix signifies HNBGI's unwavering commitment to enhancing efficiency, accuracy, and overall operational effectiveness, ultimately benefiting all stakeholders. "This initiative aligns perfectly with our mission to create sustainable value through innovation," said Sithumina Jayasundara, CEO of HNBGI. "The upgrade and customization brought about by Project Phoenix will propel us to new heights, elevating our competitiveness, operational efficiency, accuracy and agility in a rapidly evolving market. This, in turn, translates to better service delivery for our customers."

Azentio Software, a leading banking, financial services & insurance (BFSI) software company headquartered in Singapore, is HNBGI's trusted partner in this transformative journey. With over 25 years of expertise, Azentio serves 1,000+ clients across 65 countries, including 130+ insurance clients in Asia Pacific, the Middle East, and Africa. Azentio ONEInsurance platform allows to launch unique and bold new insurance products quickly, sell aggressively, and engage digitally by transforming into a customer-obsessed organization, while remaining efficient, compliant, and secure.

Jatinder Bedi, Vice President – BFSI at Azentio Software, expressed, "We are honored to collaborate with HNBGI on Project Phoenix. Our expertise lies in providing cutting-edge insurance solutions that meet the highest global standards, and we are committed to supporting HNBGI throughout this transformative journey."

Project Phoenix transcends mere technological advancement; it signifies a strategic commitment to excellence in the face of rapid industry change. As HNBGI embraces its digital future, it remains steadfast in its dedication to delivering top-tier services and maintaining its position as a trusted insurance provider. This initiative is not just about implementing a new system; it’s about taking flight towards a brighter, more efficient, and customer-centric future.

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About Azentio Software

Azentio provides mission-critical software products across Asia Pacific, Middle East, Africa and India to banks, financial services providers, and insurers. It also provides ERP solutions to mid-market enterprises. The company’s flagship platforms include Azentio ONEBanking, Azentio ONECapitalMarkets, Azentio ONEInsurance, and Azentio ONEERP. The flexibility that comes from its software platforms allows a host of applications to work with a single source of data and equips clients with workflow, analytics, document management and flexible integration mechanisms. Azentio Software Private Limited is wholly owned by funds advised by Apax.

About HNB General Insurance (“HNBGI”)

HNB General Insurance (“HNBGI”) is a dedicated partner, addressing a diverse range of insurance needs from motor to non-motor and Takaful solutions for individuals and commercial entities across Sri Lanka. As a subsidiary of HNB Assurance PLC and a member of the HNB Group, HNBGI operates through an extensive network of branches, ensuring comprehensive service coverage throughout the island. Backed by an Insurer Financial Strength Rating of ‘A-(lka)’ by Fitch Ratings Lanka Limited, HNBGI is committed to creating sustainable value for stakeholders through innovation and care.