KUALA LUMPUR, July 23 – Dynafront Holdings Bhd, an insurance technology specialist, made a successful debut on the LEAP Market of Bursa Securities Malaysia Bhd today at 23 sen per share, which was two sen or 9.6 per cent higher than its offer price of 21 sen per share.
The company and its subsidiaries specialise in developing and providing proprietary and customised enterprise information technology solutions for a broad range of life insurance companies, including conventional life insurers, Takaful operators, independent corporate life insurance agencies and group assurance operations.
“We pride ourselves on the fact that many of our key management staff were formerly from the life insurance industry. Our extensive industry background and in-depth domain knowledge, coupled with our broad IT expertise, have been instrumental not only in the design and engineering of our software solutions but also to our Group’s success over the years,” DynaFront Group CEO and managing director Chan Eng Lim said in a statement.
“Moving forward, our Group will continue to expand and evolve our solution offerings by adopting microservices-based architecture to deliver consistent, high-quality services with security, reliability and agility in all our solutions to our customers.
“With this adoption of microservices architecture, we expect our next generation of software solutions to be lightweight with modern technology stacks and AI-driven, in our quest to create a smarter insurance ecosystem.
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.
The Group offers a comprehensive suite of software solutions extending from front-end sales automation systems to back-end individual and group life administration systems including PrecentiaCMS for front-end sales automation systems, 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.
DynaFront is also moving into the virtual insurance space, with the Group’s research and development team focusing on the development and implementation of new mobile applications in wearable technologies, including 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. Real-time syncing and processing of data between wearables and our 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 Berhad is the Approved Adviser, Placement Agent and Continuing Adviser for the listing exercise.
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