New Company Established to Fortify Insurance Systems Business
November 25, 2003
Nomura Research Institute, Ltd.
Nomura Research Institute, Ltd.
Nomura Research Institute, Ltd. (NRI: Tokyo; Akihisa Fujinuma, President, CEO & COO)
has founded a 100% owned subsidiary, Insurance System & Technology, Ltd., to
boost its information systems business catering to the insurance industry. The
company is capitalized at ¥495 million, and will commence operations on December
1.
The new company has acquired the business of STS Co., Ltd. (Tokyo; Hiroshi Nozaki, President), a company that specialized in planning, development, and consultation of information systems for non-life insurance companies, and has assumed that company's insurance system know-how, human resources, and customer base.
Insurance System & Technology will provide a menu of unique services by utilizing its knowledge of the insurance business as a systems solutions expert in the insurance field, where further growth is anticipated. Through collaboration with NRI, Insurance System & Technology will strengthen systems solutions based on advanced technologies, and strive to expand the customer base of the NRI group as a whole. The new company aims to generate ¥2,400 million in revenues by its fifth year of operations.
Since the 1960s, NRI has been involved in numerous insurance system projects, including the development of general on-line systems and asset management systems for non-life insurance companies and systems matching such new products. In the 1990s, NRI provided systems solutions to life insurance companies. Through the decades, NRI has provided high-quality and high-performance systems solutions services to both the life and non-life insurance industries. NRI also has developed and maintains the Postal Life Insurance information system that is currently in operation at more than 20,000 post offices throughout the country.
NRI foresees a major business opportunity in the insurance industry, where life and non-life insurance companies have crossed into each others’ fields and businesses from other industries have entered the due to progress in the reform of the financial system. And NRI anticipates that the insurance systems business will ultimately become a major source of revenue rivaling the securities business. To achieve this end, it is necessary for NRI to provide ever more customers with systems integration services and outsourced services by tapping into its extensive insurance business knowledge and advanced systems development abilities. The new company is a vital facet of this strategy.
The new company has acquired the business of STS Co., Ltd. (Tokyo; Hiroshi Nozaki, President), a company that specialized in planning, development, and consultation of information systems for non-life insurance companies, and has assumed that company's insurance system know-how, human resources, and customer base.
Insurance System & Technology will provide a menu of unique services by utilizing its knowledge of the insurance business as a systems solutions expert in the insurance field, where further growth is anticipated. Through collaboration with NRI, Insurance System & Technology will strengthen systems solutions based on advanced technologies, and strive to expand the customer base of the NRI group as a whole. The new company aims to generate ¥2,400 million in revenues by its fifth year of operations.
Since the 1960s, NRI has been involved in numerous insurance system projects, including the development of general on-line systems and asset management systems for non-life insurance companies and systems matching such new products. In the 1990s, NRI provided systems solutions to life insurance companies. Through the decades, NRI has provided high-quality and high-performance systems solutions services to both the life and non-life insurance industries. NRI also has developed and maintains the Postal Life Insurance information system that is currently in operation at more than 20,000 post offices throughout the country.
NRI foresees a major business opportunity in the insurance industry, where life and non-life insurance companies have crossed into each others’ fields and businesses from other industries have entered the due to progress in the reform of the financial system. And NRI anticipates that the insurance systems business will ultimately become a major source of revenue rivaling the securities business. To achieve this end, it is necessary for NRI to provide ever more customers with systems integration services and outsourced services by tapping into its extensive insurance business knowledge and advanced systems development abilities. The new company is a vital facet of this strategy.
[ Profile of the new company ]
| Company name | : | Insurance System & Technology, Ltd. |
| Headquarters | : | 2-8-3 Kiba, Koto-ku, Tokyo |
| Date established | : | November 4, 2003 |
| Scheduled commencement of operations | : | December 1, 2003 |
| Capital | : | ¥495 million (100% owned by Nomura Research Institute) |
| President & CEO | : | Akiyoshi Kawano |
| Number of employees | : | 80 |
| Business outline | : | 1. Planning, development, and consultation of insurance business systems 2. Development and sale of software packages related to insurance business systems 3. Sale and lease of data processing equipment |
[For inquiries, please contact:]
Masanori Izutsu / Ai Ohara
Corporate Communications Department
Nomura Research Institute, Ltd.
Phone: +81-3-5255-1981
e-mail: kouhou@nri.co.jp
To List of Press Releases
Masanori Izutsu / Ai Ohara
Corporate Communications Department
Nomura Research Institute, Ltd.
Phone: +81-3-5255-1981
e-mail: kouhou@nri.co.jp
To List of Press Releases
Inquiries:webmaster@nri.co.jp
Copyright(c) 2003 Nomura Research Institute, Ltd. All rights reserved.
No reproduction or republication without written permission.
Copyright(c) 2003 Nomura Research Institute, Ltd. All rights reserved.
No reproduction or republication without written permission.