May 14, 2008 15:44 PM

PAC Total Solutions Aims To Double Turnover By Going Global

KUALA LUMPUR, May 14 (Bernama) -- Homegrown insurance information technology (IT) solutions specialist, PAC Total Solutions, aims to double its turnover to RM17 million this year by expanding its presence in the global insurance market.

Its chief executive officer Eric Loo said today that PAC would be rolling out its global expansion in phases, starting with Indonesia, Singapore and Thailand by year-end.

"We are very focused on delivering good results through our proven, robust and easy-to-use solutions. Our solutions are designed to help insurance companies derive additional value from their technology investments," Loo said in a statement.

"I believe there is tremendous growth potential for PAC given that the global insurance market is growing exponentially, particularly in the Asian region," he said.

According to research and advisory firm Gartner, the insurance industry will spend US$135.9 billion this year on IT, including hardware, software and services.

As part of its efforts to gain wider international exposure, Loo said PAC will showcase its end-to-end insurance solutions suite at the World Congress on Information Technology (WCIT) 2008 to be held at the Kuala Lumpur Convention Centre from May 18 to 22.

"We have created a sizeable niche in the local insurance market and this year, we are looking at expanding our global presence to further drive business growth," Loo said.

"WCIT 2008 is an excellent platform for us to showcase our innovative technologies and solutions to the international audience and we hope to be able to reach out to our potential customers during the event," he said.

WCIT 2008, now in its 16th year, is one of the largest ICT events which incorporates a three-day congress, exhibition and forums.

Loo said PAC's strengths lied in its 10 years' experience and understanding of the local insurance sector.

The company, a member of HeiTech Padu Bhd, offers a wide array of solutions and services designed to meet the various requirements of the insurance industry.

To date, PAC manages over 900 customers in Malaysia and it has three subsidiaries in Indonesia, the United Kingdom and Australia.

-- BERNAMA