Sandyford-headquartered software company Exaxe has been selected to provide its services-oriented architecture (SOA) technology to one of the largest business process outsourcing (BPO) providers in the UK.
BPO player Liberta services 3.5 million open and closed book policies for clients like Barclays, AXA and JP Morgan.
Its client base makes it the equivalent of a top 10 life and pensions company. It employs 3,500 people across 20 locations in the UK.
Liberta will use Exaxe’s Illustrate Plus illustrations and calculations technology to cover conventional pensions, unit-linked pensions, protection products, whole-of-life and endowment policies.
“We needed a solution that could be implemented in a cost-effective and efficient way, and provide rapid implementation of new actuarial calculations,” explained Phil Dale, chief technology officer at Liberta.
“Illustrate Plus is an excellent fit. It is technically compatible with our current migration and BPO architectures and our future plans. Its SOA platform is scalable and can integrate with any future books of business we may acquire,” Dale explained.
Exaxe’s Illustrate Plus enables businesses to perform efficient product rationalisation across multiple technology systems and platforms.
Exaxe already counts significant financial organisations as clients, including Prudential, Eagle Star, Hibernian and Bank of Ireland Life.
The company’s business development director Philip Naughton said the deal with Liberta is a vital endorsement for Exaxe.
“Illustrate Plus will support Liberata with improved process efficiencies, reduced operating costs, ease of implementation of regulatory changes and key features to support Treating Customers Fairly. This deal puts us in a leading position of illustration and calculation solutions to the UK life and pensions outsourcing market,” Naughton said.
By John Kennedy
