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- Insurance company Suncorp extends its RocketBoots (ROC) Beehive subscription for another two years to 2025
- RocketBoots says the new contract extension will earn it a further $275,000 and is expecting to receive the amount in full within the next 60 days
- The Beehive software is used by Suncorp to identity opportunities to improve service levels and put latent capacity to work though evidence-based schedule changes
- RocketBoots believes this extension shows the long-term value of Beehive to retail banks
- ROC shares are up 14.3 per cent to end the day at 12 cents
Insurance company Suncorp has extended its RocketBoots (ROC) Beehive subscription for another two years to 2025.
RocketBoots said the new contract extension will earn it a further $275,000 and is expecting to receive the amount in full within the next 60 days.
The company’s technology is focused on the data collection and analytics through cameras, sensors, machine learning knowledge and software.
The Beehive software is used by Suncorp to identity opportunties to improve service levels and put latent capacity to work though evidence-based schedule changes.
RocketBoots believes this extension shows the long-term value of Beehive to retail banks.
Suncorp is an Australian finance, insurance and banking corporation that is based in Queensland.
Last month, ROC shares soared after announcing its NVIDIA partnership, however, trading paused not long after.
The company has said it uses NVIDIA’s high performance computing platform to deliver advanced computer vision capabilities to Beehive.
Under the partnership, RocketBoots will be provided with early access to NVIDIA technology updates and a pathway to market and sell in collaboration with the global leader.
ROC shares were up 14.3 per cent to trade at 12 cents each at market close.
