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61.00 -1.50 (-2.39%)

Bid:

60.00

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62.50

Spread: 2.50 (4.167%)

Market Cap: £5.60m

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CPPGroup Advances Insurance And Security Technology Offering In Turkey

Mon, 03rd Feb 2020 18:16

(Alliance News) - CPPGroup PLC on Monday said it has extended its product portfolio with major partners in Turkey.

The financial and insurance services provider said the portfolio was extended through a strategic partnership with Denizbank & AXA Sigorta, and by widening the technology delivery and service model with Anadolu Insurance Co.

CPPGroup said Denizbank & AXA Sigorta will be leveraging its latest cyber security innovation product, Cyber Care.

Meanwhile, Anadolu, an insurance provider, will benefit from technology developed by CPPGroup's InsurTech arm, Blink, to deliver its parametric travel insurance service.

The recent developments with these partnerships have been focused on using technology to improve the services available to Denizbank & AXA Sigorta, and Anadolu's customers, CPPGroup explained.

"Current market conditions have led to a high demand for advanced technology solutions within the insurance market for both consumers and small and medium enterprises, and we believe that our pioneering technology will help our partners meet this demand," said CPPGroup Chief Executive Jason Walsh.

He added: "The extension of these partnerships is testament to the experience and knowledge that we have when it comes to delivering cutting edge technology."

CPPGroup shares closed 8.4% higher in London on Monday at 3.89 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com