Bravura Solutions Limited (ASX:BVS): Bravura Solutions Limited (Bravura) is pleased to announce that Scottish Friendly Assurance Society Limited (Scottish Friendly) – one of the largest mutual life offices in the UK – has gone live with Bravura’s Sonata administration platform for its life and pensions business.
Scottish Friendly is administering its extensive product range on a single Sonata system leveraging straight-through processing and workflow features to deliver strong operational efficiencies. The firm administers more than one million policies on Sonata over a broad range of products including insurance, protection, pensions, annuities, bonds, Junior ISAs and investment ISAs. Many of these products are distributed through leading UK brands such as Beagle Street and Neilson Financial Services. The successful implementation of Sonata included the migration of 47.6 million client transactions.
On the completion of the project, Bravura CEO Tony Klim commented:
“Building on our success in the wrap platform market, Bravura is committed to increasing our presence amongst UK pensions and life insurance providers, to help maximise efficiency and reduce operating costs. 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 this market.”
Scottish Friendly’s Chief Executive Jim Galbraith said:
“Having a first-class back office system is vital to our highly successful strategy of organic growth, business process outsourcing and mergers and consolidations. This important upgrade demonstrates our commitment to service and efficiency to customers and business partners alike.”
Bravura’s CEO and Managing Director, Tony Klim was quoted in this press release. To ask Tony a question regarding the release or to discuss it in more detail, email [email protected].