2012 – A Great Year for TIA – and 2013 Looks Even Better

2012 was a very good year for TIA Technology. We delivered a strong financial performance, launched new product and technology innovations and redefined our go-to-market strategy. The TIA Technology management team is proud of these results and the hard work and dedication of the entire TIA organization. We believe we have a solid foundation on which to build in the coming year.

2012 was a very good year for TIA Technology. We delivered a strong financial performance, launched new product and technology innovations and redefined our go-to-market strategy. The TIA Technology management team is proud of these results and the hard work and dedication of the entire TIA organization. We believe we have a solid foundation on which to build in the coming year.

A Look Back

Our activities in 2012 were focused primarily on implementing the strategy we defined in 2011. This resulted in several key milestones:

Strong financial performance and customer growth
TIA Technology delivered a 28% increase in total revenue, and quadrupled software revenue from new and existing customers. We added several new customers in new markets, including Germany, Portugal and Ireland.  In addition, eight of our customers went live in 2012 – on time and within budget, with eight additional customers planning upgrades in 2013.

Delivery of many new innovations
2012 was a landmark year for TIA with regard to delivering innovative solutions for our customers and partners. With the introduction of the new generation TIA solution – TIA 7-series, with its new UI and architecture, we are enabling our customers to achieve operational excellence, deliver better customer service and respond to new opportunities faster – and do so in a cost-effective way. We also delivered several customer-driven enhancements, such as the new co-insurance module, new Unit Link module and improvements to the re-insurance module.

We increased our focus on the mobile user, with an iPad sales agent app and a clearly defined mobile strategy. And, with the TIA 6.4 release, we provided enhancements to the product editor and multi-site functionality. Our development capacity increased significantly with the acquisition of Itero, our Lithuanian development partner. Future innovations will come from Vision 2020, our development vision, which has been defined with easy, open and customer-centric as guiding principles.

A focused go-to-market strategy
Our focus continues to be on our customers, and how we can enable them to realize business success in an increasingly competitive market. As part of our overall customer-centric approach, we have redefined our go-to-market strategy with a new value proposition to our customers, segmentation and client engagement model. We continue to grow our customer base with a more focused geographical scope. Finally, we have increased our professional services capabilities to ensure streamlined and efficient implementations. 

The future is bright

Based on the successful results of 2012, we begin 2013 with ambitious objectives for the coming year.  We will continue to expand and initiate innovative market activities to position TIA as the European leader of insurance software with 50 customers across more than 30 countries. We will continue to deliver innovative product releases with focus on Claims/BPM, product configuration, new mobile apps, in addition to anchoring the new generation of 7-series with our partners and customers. 

We plan to establish a stronger local presence by investing directly in our key markets and other countries via sustainable partnerships in local markets.

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