UK mutual adopts Bravura platform
A UK-based mutual life office has gone live with software provider Bravura's administration platform for its life and pensions business.
Scottish Friendly Assurance Society is administering its product range on Bravura's Sonata system to deliver operational efficiencies by leveraging straight-through processing and workflow features, according to a statement.
The implementation of the system also included the migration of 47.6 million client transactions, Bravura said.
Bravura chief executive Tony Klim noted the software provider's commitment to increase its presence amongst UK pensions and life insurance providers.
"This implementation of Sonata at Scottish Friendly shows the full range of products that Sonata is able to administer in the UK life and pensions market which, combined with its integrated workflow and modern technology, puts it at the forefront of the system consolidation we are starting to see across the market," Mr Klim said.
Scottish Friendly chief executive Jim Galbraith said the system is vital to its strategy of organic growth, business process outsourcing and mergers and acquisitions.
"This important upgrade demonstrates our commitment to service and efficiency to customers and business partners alike," Mr Galbraith said.
Fiducian profit up 15%
Fiducian Group posted an underlying net profit after tax (UNPAT) of $12 million ...
AFA announces award finalists
Ahead of its annual conference the AFA has announced its finalists in a series o...
MLC here to support advice: Geoff Lloyd
MLC Wealth will simplify its advice business to create a more sustainable model ...