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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cybit Hldgs | LSE:CYH | London | Ordinary Share | GB00B04QS651 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 73.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5133D CybIT Holdings PLC 30 September 2004 30 September 2004 CYBIT HOLDINGS PLC ("CYBIT") CYBIT ANNOUNCES 3 YEAR PARTNERSHIP WITH NORWICH UNION INSURANCE Cybit Holdings PLC is pleased to announce a three year strategic partnership agreement with the UK's largest insurance company, Norwich Union Insurance ("Norwich Union"). Together they will launch the industry's only telematics-enabled fleet insurance product, which will offer businesses fixed price insurance cover over two or three years and a premium rebate when key performance indicators are achieved. Under the partnership, Cybit will provide Norwich Union with core telematics technology to support 'Fleet Telematics' - the industry's only telematics-enabled fleet insurance product. Norwich Union, the largest fleet insurer in the UK, will make the new Fleet Telematics offering available to new and existing Norwich Union customers through their extensive network of intermediaries. Cybit's recently launched modular Fleetstar Online (FSOL) telematics technology provides Norwich Union's fleet customers with access to industry leading technology that was previously available only to major enterprises. Organisations, such as Norwich Union, are now able to benefit from Cybit's next generation telematics platform enabling the easy integration of Cybit telematics technology with their own applications, bringing solutions to market quickly. The partnership builds on the success of a series of collaborative risk management initiatives between the two companies over the last three years, and more recently a 12-month pilot project. Richard Horsman, Chief Executive of Cybit, said: "Cybit has quickly established itself as the market leader for internet-based telematics-enabled fleet management solutions. The signing of a three year strategic partnership agreement with the UK's leading fleet insurance provider is a major achievement, establishing Cybit's firm foothold in this exciting new market. Cybit is focused on developing cutting-edge telematics solutions. Our next generation telematics platform and recently launched modular FSOL solution provides organisations, such as Norwich Union, with a flexible low entry level product that is easy to integrate into existing IT infrastructure. We are very excited about the value this partnership will create for Cybit's shareholders." Robert Ledger, Head of Telematics at Norwich Union, said: "Norwich Union is delighted to announce its agreement with Cybit as part of our growing telematics capability. As the largest fleet insurer in the UK, it's a natural step for us to extend our product range in this way. The launch of the 'Fleet Telematics' product affords us the opportunity to utilise and supplement the learning we have already gained from our innovative "Pay As You Drive"TM insurance research programme." For more information please contact: Bell Pottinger Corporate & Financial David Rydell/Katie Ratner Tel: 020 7861 3232 About Cybit Cybit is a leading Internet-based Telematics Service Provider (TSP) and supplier of fleet and asset management solutions to the business-to-business sector. Cybit's solutions portfolio includes vehicle tracking and management, lone worker support and car pool management. Hundreds of companies across a wide range of industries already use Cybit's online solutions to improve the management and control of their fixed and mobile assets. Additional information is available at www.cybit.co.uk About Norwich Union: Norwich Union is the UK's largest insurer with a market share of around 14 per cent. With a focus on insurance for individuals and small businesses, Norwich Union insures one in five households, one in seven motor vehicles and more than 800,000 businesses. Norwich Union products are available through a variety of distribution channels including brokers, corporate partners such as banks and building societies and Norwich Union Direct. Additional information is available at www.norwichunion.com For media enquiries call 08703 66 68 68 This information is provided by RNS The company news service from the London Stock Exchange END SALIIFERAEIIVIS
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