Illustrate Plus to support new business illustrations in European Expansion
Dublin, Ireland, February 2009. Exaxe, the specialist IT solutions provider for the Life and Pensions industry, today announced it has signed an agreement with Norwich Union International to licence and implement its next generation illustration and calculation solution, Illustrate Plus.
Maureen Breslin, Director of Operations and IT in Norwich Union International said “We selected Illustrate Plus following a comprehensive market evaluation and competitive tendering exercise. This functionally rich and innovative solution will position Norwich Union International for further growth by allowing it to launch new products quickly and to achieve operational efficiencies and customer service improvements. The flexibility, ease of integration and short implementation timeframe afforded by Exaxe’s component based Services Oriented Architecture (SOA) was key to our selection of Illustrate Plus”
Illustrate Plus is a key component within the Exaxe suite of life and pensions solutions. Illustrate Plus is a web based illustration and calculation system that supports new and existing business illustrations for all types of life, pension, investment and annuity products. Calculation parameters, screen flow and documentation requirements are easily defined by the user through the Illustrate Plus Product Development Application, allowing for the speedy launch of new products or product variations.
Philip Naughton, Exaxe’s Director, Business Development said, “We are delighted to add a growing and innovative company like Norwich Union International to our expanding list of customers. This deal follows our selection by MGM Advantage to license our administration solution, Income Plus and Invest Plus (combined, the two products were formerly known as LifeCycle Plus). Our clients are proving they can launch new products faster, administer them more efficiently and respond with greater flexibility to the marketplace using our component based offering” said Naughton.
About Norwich Union International
Norwich Union International is part of Aviva, the world’s fifth-largest insurance group and the UK’s leading insurance services provider. Aviva provide security, stability and protection to 45 million customers worldwide. Norwich Union International specialises in providing tax-efficient offshore investment solutions to a broad customer base of individuals, corporate investors and trustees.
Exaxe® is a specialist solution provider for the Life & Pensions industry. Exaxe helps companies such as MGM Advantage, Eureko Group and Scottish Widows launch new products faster, administer them more efficiently and respond with greater flexibility to the marketplace. With offices in Dublin and the Netherlands, we provide proven leading edge, front, middle and back office solutions, to more effectively manage product development, illustrations, channel distribution, commissions & agency management and policy administration.