LONDON (Alliance News) - Arria NLG PLC shares were up on Thursday morning after the company said it has signed a framework agreement with an unnamed major insurance company.
Arria said the customer is one of the largest general insurers in Canada and a subsidiary of a multinational insurance company.
Under the deal, Arria's natural language generation technology will be used to create monthly management reporting on aspects of one of the insurance company's business lines.
Arria did not provide any financial details on the contract.
"This agreement with one of the world's leading insurance companies is a great opportunity for Arria to expand its powerful Natural Language Generation technologies further into the Financial Services industry," said Arria Chairman and Chief Executive Stuart Rogers.
"Working with this insurance company, we will develop new forms of management reporting and help them gain greater insights by leveraging mission critical operational data from their internal applications," Rogers added.
Rogers said the insurer is Arria's second financial services client and its fifth new client in the past six months.
Arria shares were up 9.8% to 21.95 pence in early trade on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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