Acuity RM signs up unnamed 'leading' British insurer

The AIM-traded firm, formerly known as Drumz, said the software aids private and public sector clients in efficiently managing their cybersecurity and other enterprise risks.

It said an unnamed, “leading” British insurance company had chosen to adopt STREAM to enhance its risk management capabilities within the organisation.

The board said the contract was a direct result of the efforts of one of the recently-appointed partners at Acuity RM.

While the initial order may be relatively small in scale, it said it had generated several other potential opportunities, both from this particular partner's involvement and from other newly-appointed and existing partners associated with Acuity RM.

“We are focussing on our partners as the channel to accelerate our growth,” said Acuity Risk Management chief operating officer Kerry Chambers.

“Whilst the first orders are often small; as both partners and customers grow in confidence we expect a significant multiplier effect to grow our customer base, orders and so revenues.

“Further with recent publicity about cybersecurity breaches at major British companies there is increasing awareness of the need for security measures and many of our partners are cyber security specialists.”

At 1127 BST, shares in Acuity RM Group were up 8.57% at 9.5p.

Reporting by Josh White for Sharecast.com.