Share News Articles
Candela Labs (Part of Azentio) has an impressive business journey – could you make a short review of an amazing company history?
Created in 1996 as AWPL Ltd. by 4 entrepreneurs with a vision to create technology and platforms in the BPM space, the company exclusively focused on the insurance domain by the year 2000. Two years after releasing our first product suite in 2003, we established footprints in Japan, Singapore, Vietnam, Indonesia, and Malaysia. In the following years we grew into new territories, including Africa, built more solutions driven by customer demand and expanded our industry focus to banking.
In 2015-2016 the company went through a major transformation. We rebranded AWPL Ltd. to Candela Labs and put new emphasis on creating innovative IP-led products and solutions, and co-creating with clients in their focus markets. After solidifying our digital-first strategy with a new operating model, new sales approach and new products that kept the end customer at the heart of it all, we launched our Intelligent Automation Fabric (IAF), in 2019, for Insurance that is based on open standards and integrates multiple improvement levers — digitalization, BPM, human-in-the-loop, RPA, analytics, and artificial intelligence (AI).
2021 is an inspiring year with the launch of the ready-to-go SaaS suite of solutions under the brand Cloudflow (https://cloudflow.insure/). Recently the company got acquired by Azentio Software, a Singapore-based software products business, owned by Funds advised by Apax. That is a huge strategic step that boosts our future development as a larger organization, under the Azentio brand.
Outstanding indeed, given you started as a small private company just with a bold vision. Your key ingredient to success?
Success is a function of many factors. No miracles, no coincidences. If I am to share one ingredient, that would be our mindset for adaptive transformation.
Could you explain more?
On several occasions in our business journey, we had to reinvent ourselves due to customer or competitor imperatives, the need for digitalization, change in market or technology. When there is a need for change, you also need to be ready to change. Genuinely. It is rare to have the whole team embracing innovation with enthusiasm.
How do you keep your people engaged and committed to achieving the evolving company goals?
Clear vision, clear goals, exciting technology, timely recognition for achieved excellence, market relevance, genuine care for the success of our customers.
When it comes to market relevance, Candela Labs has achieved an impressive geographical expansion over the years, including first steps in North America, Latin America, and Europe.
After the expansion in Asia and Africa, based on the customer feedback and the real value delivered to clients on increased revenue, business processes optimization, digitalization, and automation, logically, we looked for new horizons.
And here comes CoMantis as one of your business developments partners?
The partnership with CoMantis came in a moment where we started seriously considering expansion to the European market. Establishing an office or hiring a dedicated team without testing the appetite and relevance of our solutions was out of the question.
The fastest and most efficient way forward was to engage with a European partner with a broad understanding of Western and Eastern Europe market particularities and having a solid professional network across mentioned territories.
What is your overall experience and how would you evaluate the journey with CoMantis?
First, engaging with CoMantis was excellent value for money. We got a broad scope of services, with performance that was overachieved, and cost us a very reasonable amount of money. Second, the team quickly grasped business specifics and was able to act as initial touch base in engaging with decision-makers, tailoring, and adapting to the cultural nuances. Finally, CoMantis used personal connections across their European network to get to conversations that helped us gain firsthand experience about the market specifics.
We continue the execution of our joint program and what is quite remarkable, is the clear, straightforward, and transparent approach CoMantis has. All is bound to concrete Key Performance Indicators (KPIs) and tangible outcomes – each service is packaged as a comprehensive set of activities that lead to concrete deliverables.
So, from your experience and perception, what is the most valuable aspect of engaging with an external partner?
Hard to state a single thing. It is a complex value-driven relationship. This is how long-term partnerships are built. Mutual trust, transparency, open communication, commitment to quality, innovation, and meaningful outcomes. Also, flexibility and adaptability are paramount, as we need to be prepared to seize the window opportunities. An example is our new partnership in Latin America – the scope for CoMantis was Europe, but why not consider an additional region, when there is a possibility for working with a perfect-fit partner?
What is next in the context of your new role as Head of Markets at Azentio Software?
More than ever, the sky is the limit! With the cloud revolution in insurance, the flexibility and freedom insurers get from SaaS solutions, new horizons have been revealed. Our newly launched cloud platform Cloudflow would further democratize technology access for insurers. Despite the size of the company, any insurer could have access to top innovation, solid industry know-how and proven business automation principles. That is quick and hassle-free access to cloud technology and digitalization, and this is our bet for the future.
Thank you for the kind words, Romil!
About CoMantis
CoMantis was founded to boost the business velocity of companies with amazing SaaS products and unique technology services. They empower people with knowledge and digital tools that help them work smarter and do more with less. CoMantis delivers services in the areas of sales, partnerships, legal and automation.
Share News Articles
Azentio Software (“Azentio“), a Singapore-based software products company owned by funds advised by Apax, is delighted to announce the appointment of Sanjay Singh as its new Chief Executive Officer. This strategic move marks
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, and Nityo Infotech, a global IT services company, today announced a formal partnership aimed at providing innovative and comprehensive technology solutions to the Banking, Financial Services & Insurance (BFSI) industry.
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, today announced that it been recognized as a Notable Vendor in the Digital Banking Engagement Platforms (DBEPs) Landscape Report, Q1 2023, published by leading research and advisory firm Forrester. The report aims at helping digital leaders in banking, understand the value they can expect from a DBEP vendor, learn how vendors differ, and select one based on size and market focus.
We are excited to announce that SICOM GIN, has successfully gone live with the Azentio Health Insurance platform along with the mobile application to digitalize its health insurance business.
We are excited to announce that the NIC General Insurance Co. owned by the Government of Mauritius has gone live with Azentio Insurance suite to manage its general insurance business along with the agent portal.
We are excited to announce that Shinhan Life Insurance Vietnam (SHLV), a life insurance subsidiary of Shinhan Financial Group, Korea has gone live with its website and Azentio’s end-to-end bilingual digital solution in just three months.
Azentio Software is pleased to announce that its Middle East Banking Division has been appraised at Level 5, the highest maturity level of the CMMI Institute’s Capability Maturity Model Integration (CMMI)® for New Product Release and Implementation.
A leading Takaful insurance company headquartered in Kuwait, selected Azentio’s Core Insurance platform for general, health and group life insurance business as part of a 10-year subscription deal, along with other digital applications including CRM, B2B Portal, IFRS 17 Accelerator to drive digital transformation across all business areas.
The award was presented during the InsureTek Middle East 2022 International Conference and Golden Shield Excellence Awards ceremony, at the Address Dubai Marina, UAE, on February 9 &10.
Sanlam Vie Plc, Rwanda has gone live with Azentio Insurance’s enterprise document management system in a years’ time. The Data Scan Online Solution has helped the client digitalize their operations using an in-built workflow process across all lines of business including claims, underwriting, accounts, commercial, agent licensing, legal and human resources.
Azentio Software is proud to announce the successful implementation of Insurance Authority’s data submission requirement for 10 insurers in UAE. The regulation seeks a trusted digital environment throughout the UAE with additional upgrades and improvements on the cards to facilitate this vision.
Path Solutions, a leading Islamic technology provider, recently acquired by Azentio Software, was ranked highly and named a winner in three categories among top firms worldwide at the recently held Faster Community’s Fintech Prize 2021 on December 1st via a virtual ceremony.
The client is an existing user of Azentio’s globally acclaimed Insurance Solutions Suite and chose Azentio Insurance’s B2B Portal for agents to meet their current set of challenges.
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds managed by Apax Partners, announced today that National Bonds, the UAE’s leading Shariah-compliant savings and investment company owned by the Investment Corporation of Dubai, has selected Azentio’s market leading Islamic Banking solution, iMAL, to support its quest to improve process efficiency, enhance internal controls and deliver an exceptional customer experience as part of National Bonds ambitious growth strategy.
A leading Life Insurer in Thailand has gone live with Azentio Insurance’s document management system in September 2021. The client is an existing user of Azentio Insurance’s group life core solution – a dynamic, bilingual advanced application with innovative process automation features and a proven track record of benefitting life insurers globally.
A leading insurer in Thailand has gone live with Azentio™ Insurance’s digital policy servicing and digital claims transactions solutions helping bring basic automation and ensuring their team can perform their daily operations from home during the pandemic.
Shinhan Life Insurance, Vietnam (SHLV), a life insurance subsidiary of Shinhan Financial Group, Korea chooses Premia’s™ end-to-end bilingual web portal solution. The digital front-end is an interactive insurance solution helping insurance companies increase cost savings and sales capabilities.
A leading insurer in Philippines, has selected Premia™ Astra, an end-to-end integrated solution built on contemporary technology. Implementing the solution will help the insurer deliver better quality products and services and engage strongly with their customers.
A leading Japanese non-life Insurance service provider has chosen Premia’s™ eCargo web portal, claims mobile application, and motor mobile application, part of Premia’s™ digital solutions to strengthen its operations in Egypt.
Azentio is pleased to announce the signing of a binding agreement to acquire certain software assets from Path Solutions (including the flagship products iMAL™, iShraq™, Path Digital and Path Analytics), a leading provider of core banking software.
Romil Turakhia, Head of Markets at Azentio in conversation with the team from Co Mantis, our partner in Europe.
Apax Partners–backed Azentio flags Asia, MEA as key markets for organic growth, bolt-on
Azentio Software is pleased to announce that it has signed a binding agreement to acquire Beyontec, a leading insurance technology company.
Azentio Software is pleased to announce that it has acquired Candela Labs, a technology firm specialising in automation and digital solutions for insurance firms.
Azentio Software (“Azentio” or the “Company”), a Singapore-headquartered software products business owned by Funds advised by Apax, is pleased to announce that it has appointed Tony Kinnear to the role of Chief Executive Officer (CEO), effective immediately.
3i Infotech Limited, a global information technology company, today announced that it has entered into a definitive agreement to sell its Software Products business to funds advised by Apax Partners, for a total consideration of INR 10 billion.
Azentio Software (“Azentio“), a Singapore-based software products company owned by funds advised by Apax, is delighted to announce the appointment of Sanjay Singh as its new Chief Executive Officer. This strategic move marks
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, and Nityo Infotech, a global IT services company, today announced a formal partnership aimed at providing innovative and comprehensive technology solutions to the Banking, Financial Services & Insurance (BFSI) industry.
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, today announced that it been recognized as a Notable Vendor in the Digital Banking Engagement Platforms (DBEPs) Landscape Report, Q1 2023, published by leading research and advisory firm Forrester. The report aims at helping digital leaders in banking, understand the value they can expect from a DBEP vendor, learn how vendors differ, and select one based on size and market focus.
We are excited to announce that SICOM GIN, has successfully gone live with the Azentio Health Insurance platform along with the mobile application to digitalize its health insurance business.
We are excited to announce that the NIC General Insurance Co. owned by the Government of Mauritius has gone live with Azentio Insurance suite to manage its general insurance business along with the agent portal.
We are excited to announce that Shinhan Life Insurance Vietnam (SHLV), a life insurance subsidiary of Shinhan Financial Group, Korea has gone live with its website and Azentio’s end-to-end bilingual digital solution in just three months.
Azentio Software is pleased to announce that its Middle East Banking Division has been appraised at Level 5, the highest maturity level of the CMMI Institute’s Capability Maturity Model Integration (CMMI)® for New Product Release and Implementation.
A leading Takaful insurance company headquartered in Kuwait, selected Azentio’s Core Insurance platform for general, health and group life insurance business as part of a 10-year subscription deal, along with other digital applications including CRM, B2B Portal, IFRS 17 Accelerator to drive digital transformation across all business areas.
The award was presented during the InsureTek Middle East 2022 International Conference and Golden Shield Excellence Awards ceremony, at the Address Dubai Marina, UAE, on February 9 &10.
Sanlam Vie Plc, Rwanda has gone live with Azentio Insurance’s enterprise document management system in a years’ time. The Data Scan Online Solution has helped the client digitalize their operations using an in-built workflow process across all lines of business including claims, underwriting, accounts, commercial, agent licensing, legal and human resources.
Azentio Software is proud to announce the successful implementation of Insurance Authority’s data submission requirement for 10 insurers in UAE. The regulation seeks a trusted digital environment throughout the UAE with additional upgrades and improvements on the cards to facilitate this vision.
Path Solutions, a leading Islamic technology provider, recently acquired by Azentio Software, was ranked highly and named a winner in three categories among top firms worldwide at the recently held Faster Community’s Fintech Prize 2021 on December 1st via a virtual ceremony.
The client is an existing user of Azentio’s globally acclaimed Insurance Solutions Suite and chose Azentio Insurance’s B2B Portal for agents to meet their current set of challenges.
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds managed by Apax Partners, announced today that National Bonds, the UAE’s leading Shariah-compliant savings and investment company owned by the Investment Corporation of Dubai, has selected Azentio’s market leading Islamic Banking solution, iMAL, to support its quest to improve process efficiency, enhance internal controls and deliver an exceptional customer experience as part of National Bonds ambitious growth strategy.
A leading Life Insurer in Thailand has gone live with Azentio Insurance’s document management system in September 2021. The client is an existing user of Azentio Insurance’s group life core solution – a dynamic, bilingual advanced application with innovative process automation features and a proven track record of benefitting life insurers globally.
A leading insurer in Thailand has gone live with Azentio™ Insurance’s digital policy servicing and digital claims transactions solutions helping bring basic automation and ensuring their team can perform their daily operations from home during the pandemic.
Shinhan Life Insurance, Vietnam (SHLV), a life insurance subsidiary of Shinhan Financial Group, Korea chooses Premia’s™ end-to-end bilingual web portal solution. The digital front-end is an interactive insurance solution helping insurance companies increase cost savings and sales capabilities.
A leading insurer in Philippines, has selected Premia™ Astra, an end-to-end integrated solution built on contemporary technology. Implementing the solution will help the insurer deliver better quality products and services and engage strongly with their customers.
A leading Japanese non-life Insurance service provider has chosen Premia’s™ eCargo web portal, claims mobile application, and motor mobile application, part of Premia’s™ digital solutions to strengthen its operations in Egypt.
Azentio is pleased to announce the signing of a binding agreement to acquire certain software assets from Path Solutions (including the flagship products iMAL™, iShraq™, Path Digital and Path Analytics), a leading provider of core banking software.
Romil Turakhia, Head of Markets at Azentio in conversation with the team from Co Mantis, our partner in Europe.
Apax Partners–backed Azentio flags Asia, MEA as key markets for organic growth, bolt-on
Azentio Software is pleased to announce that it has signed a binding agreement to acquire Beyontec, a leading insurance technology company.
Azentio Software is pleased to announce that it has acquired Candela Labs, a technology firm specialising in automation and digital solutions for insurance firms.
Azentio Software (“Azentio” or the “Company”), a Singapore-headquartered software products business owned by Funds advised by Apax, is pleased to announce that it has appointed Tony Kinnear to the role of Chief Executive Officer (CEO), effective immediately.
3i Infotech Limited, a global information technology company, today announced that it has entered into a definitive agreement to sell its Software Products business to funds advised by Apax Partners, for a total consideration of INR 10 billion.
We are happy to hear from you and answer your questions. Let's begin our journey together.