UK-based insurance technology vendor Sherwood International is reporting two new contract wins for its Amarta workflow solution with Adepta Services Limited and Swiss Life.
The company has secured a five-year third party administration contract with Adepta for 500,000 policies per annum, with an option to extend this to two million policies. The deal is valued at a minimum of £720,000.
Swiss Life has been working with Sherwood since summer 2000. As part of a new agreement, Sherwood will implement a second phase of Amarta. The deal will generate £3 million in revenue, says the vendor.