Strong 2018 results signal a bright future for Tia Technology
Today, Tia Technology announces strong financial results for 2018. An international leader in software and solutions for the insurance industry, Tia’s revenue is anchored in the successful launch of a series of new digital solutions, an increase of new and upgrading customers, two successful acquisitions and continued growth in international markets. Key financial results • Revenue increases by 33% to DKK 207 million • EBITDA grows by 34%, to DKK 52 million, driven mainly by increased license sale revenue • Overall profitability increased despite increased investments • Major R&D investments are capitalised as Tia focuses on business growth Business highlights • Several customers successfully launched Tia-as-aService, the company’s full-service cloud-based solution. Tia also achieved several enhancements to the solution, including establishing a Tia-as-a-Service division and earning an ISAE 3402 accreditation, which offers Tia customers assurance of the solution’s quality. • During the year, Tia launched a series of Digital and Business solutions that empower insurers to serve today’s digital consumers faster and more efficiently, while ensuring an enhanced customer experience. • A roster of new customers joined the Tia community, including a range of incumbent insurers and digital startups. At the same time, a wave of current customers upgraded to take advantage of the latest release’s advanced functionality. Several additional customers have committed to upgrading in 2019.