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Police Mutual Assurance Society selects Exaxe to provide its policy administration platform

Press Release

From left to right are Norman Carroll, CEO at Exaxe and Philip Naughton, Executive Director Business Development at Exaxe. Photograph taken by Philip Leonard.

NEWS RELEASE: Dublin, Ireland.

Exaxe, the specialist solutions provider for the life and pensions industry, announced today that UK based Police Mutual Assurance Society has selected Exaxe’s Admin Plus and Illustrate Plus solutions as its new policy administration platform. The renewable five year licence agreement marks the fourth licence sale for Exaxe over the past twelve months and is further evidence of the growing demand for its software solutions.

The multi-million pound agreement will allow Police Mutual, to consolidate multiple lines of business on a single modern technology. Admin Plus and Illustrate Plus will enable Police Mutual to improve service levels, accelerate business innovation and reduce the lead time for introducing new products. The solutions will support all aspects of the policy lifecycle from new business, policy servicing, and right through to claim processing. Admin Plus will also allow Police Mutual to tailor products for different affinity groups and achieve industry-leading levels of self-sufficiency.

Illustrate Plus will allow Police Mutual to provide web-enabled quotations and illustrations direct to consumers on a self-service basis. The Product Development Application, within Illustrate Plus, will give Police Mutual the self-sufficiency that its competitors aspire to achieve.

David Loughenbury, CIO of Police Mutual commented, “Police Mutual continues to invest in new solutions to better benefit our members. We chose Exaxe for the quality of its technology, together with its business expertise. We do not have any shareholders, and this allows us to focus purely on what our members want, such as using a ‘digital by default’ frame of mind when servicing their needs. By implementing Admin Plus and Illustrate Plus, we can provide a higher quality service to our members through tailored products and quicker response times. We look forward to working with the Exaxe team”.

Philip Naughton, Exaxe’s Executive Business Development Director added, “We are delighted to sign this deal with a customer focused business like Police Mutual Assurance Society. Admin Plus and Illustrate Plus will allow Police Mutual to launch its new products quickly and efficiently giving it a distinct advantage over its competitors. The new modern platform will also position Police Mutual to meet the challenges of a rapidly changing market, both in terms of financial services and the means of delivery.”