Fermion
End-to-end insurance SaaS platform for carriers and BFSI operators across Asia Pacific
Overview
Fermion is a core administration and claims technology platform for insurance carriers, Takaful operators, and BFSI institutions in Asia Pacific. The company was established in 2021 as the insurance technology arm of Silverlake Axis Ltd, a Singapore-listed financial technology group with over 25 years of banking software experience.
The platform covers the full insurance value chain -- from policy origination and underwriting through claims processing, fraud detection, and analytics. Delivered as cloud-based SaaS, it supports motor, marine cargo, property, health, and long-term savings products. White-label architecture allows banks and financial institutions to embed insurance into their customer journeys.
As of 2024, Fermion serves over 150 insurance and Takaful operators across 29 markets in Asia, MENA, Europe, and the USA. The platform processes USD 2 billion in annual claims and premiums and handles 150,000+ claims monthly. The company operates through subsidiary brands including Merimen Technologies (Southeast Asia, Hong Kong, Japan, Dubai) and Cyber Village.
Products & Services
Property & Casualty Platform
End-to-end software covering policy origination, underwriting, claims processing, and fraud detection for motor, marine cargo, and property lines.
Key Features
- Policy origination and underwriting workflows
- Claims processing and settlement automation
- AI-powered fraud detection via TrueSight
- Interactive video inspection for remote claims assessment
Target Users: P&C carriers and Takaful operators
Health & Wellness Platform
Employee engagement, wellness, and rewards platform covering health insurance and employee benefit administration.
Key Features
- DEBI Wellness employee engagement solution
- Health insurance administration
- Group employee benefits management
Target Users: Carriers offering group health and employee benefits
Embedded Insurance Platform
Cloud-based platform enabling banks and financial institutions to embed insurance products into customer journeys, powered by the Ancileo partnership.
Key Features
- White-label architecture for BFSI sector
- Access to 230+ bank distribution partners
- Operates across 26 markets
Target Users: Banks and financial institutions adding insurance to their product suite
TrueSight
AI-powered fraud intelligence and interactive video inspection tool for P&C claims.
Key Features
- AI-generated fraud scoring and analytics
- Interactive video inspection for remote assessment
- Integration with core claims workflow
Target Users: Claims departments at P&C carriers
At a Glance
- Founded
- 2021
- Headquarters
- Singapore
- Employees
- 201-500
- Funding
- Subsidiary (Silverlake Axis, SGX-listed)
Category & Focus
- Category
- Core Administration
- Subcategories
- Claims Technology Data & Analytics Insurtech Infrastructure
- Insurance Verticals
- P&C Personal P&C Commercial Health Life & Annuity
- Target Customers
- Carriers
Customers
- MSIG Singapore
- BPI MS Insurance Corporation
- NTUC Income Insurance
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Last updated: 2026-05-17