Dublin, Ireland, 30th January 2017
Exaxe, the global award-winning SaaS software solutions provider for the life and pensions industry is delighted to announce the signing of an Enterprise Agreement with Acorn Life DAC, a 100% Irish owned life assurance company offering protection, savings and investment products, for its market leading Illustrate Plus platform.
The agreement will see the insurer replacing its current needs-analysis and point of sale system with Exaxe’s online and offline ePOS (electronic point of sale) solution to support advisors providing personalised recommendations for their clients through traditional and online methods, both with straight through processing.
Exaxe provides solutions for insurance companies that need a platform to focus on scaling capabilities across a broad market with the ability to adapt quickly to new innovations and recognise market opportunities.
Gerard Ryan, Operations Director at Acorn Life DAC, commented, “After a review of our systems it was decided that it would be necessary to replace our needs analysis and point of sale system to ensure we could achieve straight through processing and while also allowing us to operate in an online environment, giving improved customer service whilst simultaneously attaining cost reductions. Illustrate Plus was the best product on the market and having worked with Exaxe it has further cemented our belief that we made the right decision.”
The renewable five-year licence agreement with Acorn Life DAC follows a year of successful growth and product development for Exaxe which included winning the Irish Pensions Award for Pensions Technology Provider of the Year and being shortlisted in both the European FStech Awards and FinTech Innovation Awards.
Philip Naughton, Exaxe’s Executive Director Business Development added, “We are delighted that Acorn Life DAC saw Exaxe as the right solution for them, their advisors and more importantly their clients. At Exaxe we understand what European companies need to stay competitive and it always a great testament when companies like Acorn Life DAC see your solution as the only option. We see this as another milestone in our successful history and further proof that we have the right solution. This contract coupled with our further expansion in Europe is a terrific opportunity for Exaxe to create new jobs in Ireland, and we will be announcing further positions shortly.”
Established in 1997, Exaxe (www.exaxe.com) is an award-winning specialist SaaS software provider that helps life and pensions providers to launch new products faster and administer them more efficiently.
With headquarters in Ireland, and offices in United Kingdom and the Netherlands, Exaxe provides best-in-class solutions that support the full policy lifecycle from initial fact find right through to the payment of a claim. Its Service Oriented Architecture and component based design has been key to its success.
Exaxe solutions are in use in a wide range of client organisations throughout Europe. Exaxe helps companies, such as; AXA Life Invest, Police Mutual, Retirement Advantage, Capita, Scottish Mutual, and the Eureko Group.
About Acorn Life
Established in 1989, Acorn Life DAC is licensed under the Insurance Act 1936 and authorised under the European Communities (Life Assurance) Framework Regulations 1994 to transact life assurance business in the Republic of Ireland. Acorn Life DAC is regulated by the Central Bank of Ireland and is a member of the Irish Insurance Federation (www.iif.ie). It is an independent Irish owned company with its Head Office based in Galway. Acorn Life provides a wide range of financial services and is dedicated to excellence through advanced administration systems and quality customer service. It distributes its products through a nationwide team of over 150 financial advisors.
At the end of 2015, Acorn Life had assets of €662 million and premium income was €100 million. Since inception investment performance has consistently been among the market leaders.