Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of cloud and on-premise enabled application platforms and business integration solutions, today announced that specialist Lloyd’s and London Markets Insurance ISV, Total Objects, has chosen its iBOLT integration solution to enhance the capabilities of its market-leading insurance system GLOBAL XII. iBOLT is a code-free integration platform that enables Total Objects to create an end-to-end business suite, so that users can configure and process insurance contracts and access management information across all their applications in real time.
iBOLT enables users to integrate Total Objects’ GLOBAL XII insurance administration system with all their existing applications, databases, and third-party external systems, such as Customer Relationship Management (CRM) systems and rating engines, such as Polaris. As a result, users can access and process data much faster. GLOBAL XII is the multi-channel interface and process management component of Total Object’s GLOBAL Product Suite, which covers the entire business acquisition and ongoing maintenance processes for insurance companies, brokers and MGA clients.
Total Objects Managing Director, Colville Wood, comments: “Using iBOLT has enabled us to rapidly configure and utilize third-party services in the GLOBAL XII Insurance Product Builder application. The scope and depth of configuration available within the GLOBAL XII product suite as a result of this has enabled Total Objects to deliver full life-cycle product deployment to our customers in considerably less time than traditional means. With iBOLT it is also possible to include existing client Web services using a standard and consistent approach.”
David Akka, Managing Director of Magic Software UK, Eire and the Nordics, comments: “By enabling ISVs such as Total Objects to deliver applications that fully integrate with every aspect of their customers’ business, iBOLT helps them to generate new business and branch out into new markets, while still giving an excellent level of support to their existing customer base. Total Objects can now grow its footprint in the market, and we look forward to helping it meet new technological trends, such as mobile and cloud technologies.”
About Total Objects
Total Objects is committed to providing world-class software products and services to the GLOBAL Insurance Market with specialist knowledge of the Lloyd’s and London Insurance Markets. Their strategy is to develop and to acquire a portfolio of software products that deliver measurable business benefits to insurance and re-insurance brokers, producers, agents and underwriters. These products successfully support global brokers and underwriters, addressing the whole lifecycle from risk capture through to accounting, settlement and full claims management. For further details visit www.totalobjects.co.uk.
About Magic Software Enterprises
Magic Software Enterprises Ltd. (For more information, visit www.magicsoftware.com.
Except for any historical information contained herein, the matters discussed in this press release include forward-looking statements that might involve a number of risks and uncertainties. Actual results might vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both locally and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in Magic’s most recent annual report and other filings with the Securities and Exchange Commission.
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Tania Amar, VP Global Marketing
Magic Software Enterprises