Sherwood strikes multi-million pound IT insurance deal with Nationwide

Sherwood strikes multi-million pound IT insurance deal with Nationwide

Nationwide has contracted with software house Sherwood International to implement its ProGen2 general insurance back office administration system across the UK building society's operations. The technology investment includes a £3 million order of IBM iSeries machines, the largest such order in the UK this year.

The Sherwood product is designed to streamline data flow at the back office and supports business users from initial contact including full service and support.

Tracy Morshead, divisional director, insurance services for Nationwide, says: "We are committed to providing products and services through as many channels as possible. This investment in our general insurance systems will enable us to continue to deliver top quality, value for money insurance products for all our members."

ProGen2 will be made available to 7000 users throughout the Nationwide branch network. Initial policy volumes of 1.1 million will be converted to ProGen2 with plans to increase as new products and services are brought online.

The deal follows Sherwood's recent ProGen2 contract win with LPSO (Lloyd's Policy Signing Office), announced 31 May this year.

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