KUALA LUMPUR (July 23): DynaFront Holdings Bhd, an insurance technology specialist, debuted on Bursa Malaysia's LEAP Market today at 23 sen per share, two sen or 9.52% higher than its offer price of 21 sen per share.
In a statement today, DynaFront said the group specialises in developing and providing proprietary and customised enterprise information technology (IT) solutions for a broad range of life insurance companies.
“DynaFront’s solutions, offered either as proprietary software products or managed services, have been successfully deployed to markets in Malaysia, Indonesia, Singapore, Philippines, Taiwan, and Hong Kong,” it added.
The group said it offers a comprehensive suite of software solutions including PrecentiaCMS for front-end sales automation system, PrecentiaLife for back-end individual life administration system, as well as PrecentiaGroup, a suite of back-end group life administration systems for employee benefits.
“DynaFront also offers PrecentiaTakaful supporting the Wakalah, Mudharabah, and hybrid concepts and can be integrated into various Takaful models,” the group added.
DynaFront managing director and group chief executive officer (CEO) Chan Eng Lim said the group prides itself on the fact that many of its key management staff were formerly from the life insurance industry.
The insurance technology specialist said it is moving into the virtual insurance space, with its research and development team focusing on the development and implementation of new mobile applications in wearable technologies.
“These technologies include web-enabled smart devices that use embedded systems, such as processors, sensors, and communication hardware, to collect, send and act on data acquired from their environments such as temperature screenings and movement detections to smartwatches and wearable health devices,” it said.
The group added that real-time syncing and processing of data between wearables and its platform microservices as well as real-time health monitoring will enable life insurance companies to structure insurance products that are more customised and suited for the policyholders.
Hong Leong Investment Bank Bhd is the approved adviser, placement agent, and continuing adviser for the listing exercise.