Insig AI plc (AIM:INSG), the data science and machine learning solutions company serving the asset management industry, is pleased to announce that a London based alternative investment manager with in excess of $1 billion of assets under management has signed an annual license for Insig AI’s proprietary Data Tool. This contract win follows successful client testing and enables the client to structure and categorise both proprietary and third-party data and builds upon the Company’s recent success in delivering data science products to Royal London Asset Management.

Insig AI is also pleased to announce strong progress on the development of its ‘Insig ESG’ product; designed to enable asset managers to develop and execute a data-led ESG investing strategy by providing transparent and evidence-based ESG scoring and interrogation. The product offering is being validated in cooperation with a number of potential asset manager clients in the UK and internationally.

The Group has also set up a US subsidiary in light of the interest it is seeing from US-based asset manager firms.

Steve Cracknell, Chief Executive of Insig AI, said:

“This Software as a Service contract win further validates the importance of our offerings to an industry with an urgent and unmet need to centralise data in a cloud-based infrastructure solution, that will better enable them to take advantage of the immense power of machine learning tools.

Our pipeline of active discussions with potential asset manager clients continues to grow both in number and status. Moreover, given the high demand for ESG based tools and analytics, we necessarily prioritised resource to accelerate the development of this product and we look forward to providing further updates on this and our other pipeline of opportunities in due course.”