Target Harlosh the agile insurance solutions provider today announced its first Managed Service contract in Australasia with Western Pacific Insurance Ltd, a provider of niche insurance services in New Zealand, Australia and Asia.
Western Pacific, an innovative and fast growing insurer have committed to a five year contract for IF FullCycle part of the InsuranceFaces solution set from Target Harlosh. It will be delivered within a managed service framework - the first stage in the evolution of a Software as a Service (SaaS) solution, currently in development. The new contract reinforces Target Harlosh's position as a key provider to the Australia and New Zealand insurance market and adds to a rapidly expanding client base in the region.
Jeff McNally, CEO of Western Pacific commented; "Companies are seeking solutions that allow them to do more with less. With rapid start-up, lower upfront costs and reduced capital investment required, a managed service framework is becoming more popular with businesses of all sizes".
Target Harlosh's managed service model will support Western Pacific's broad range of commercial, domestic and specialty products, as well as programs for affinity groups, underwriting agents and preferred brokers. The solution will support new business, accounting, claims and reinsurance across the Western Pacific portfolio. Target Harlosh will provide a fully hosted service including administration and management of the solution.
Commenting on the announcement, Brett Arthur, Target Harlosh's Regional Director of Australia and New Zealand commented; "Our strategy of providing our clients with a flexible solution framework has paid dividends. Delivering our IF FullCycle solution via a managed service model will allow a larger number of niche players to benefit from our overall solutions. We are experiencing a great deal of interest in our managed service offering and proposed SaaS offering, IF in a Box, throughout Australia, New Zealand and Asia. The model provides accessibility to solutions that were otherwise restricted to large IT budgets and long term contractual commitments. Our new SaaS solution, IF in a Box, will be launched in 2011".