DynaFront wins discovery contract for Indonesian insurer’s system replacement
The initial assessment is expected to take about five months, while implementation and data migration remain uncontracted.
DynaFront Holdings Bhd said its wholly-owned unit, DynaFront Systems Sdn Bhd, has secured a Phase I Discovery Agreement for an Indonesian life insurer’s proposed core system replacement. Neither the insurer’s identity nor the agreement’s value was disclosed, citing confidentiality arrangements.
The LEAP Market-listed group told Bursa Malaysia that the insurer had chosen DynaFront Systems as its vendor after evaluating it. The discovery work is expected to run for about five months from commencement.
During this phase, the subsidiary will compare the insurer’s business and functional needs with its existing PrecentiaLife system. It will identify gaps and establish what modifications would be required to implement the system.
DynaFront said a second phase is expected to involve implementing the full system and migrating data. That work has not been contracted and remains conditional on formal customer confirmation and the signing of relevant agreements.
The proposed replacement is intended to make operations more efficient, integrate business processes and offer a scalable platform for the insurer’s future requirements and digital transformation, the group said.
For the financial year ending June 30, 2027, DynaFront expects the agreement to contribute positively to earnings, without materially affecting share capital, net assets or gearing. It said it would take appropriate steps to manage normal operational and project execution risks.
