AA Insurance Services outsources credit system to Target
13 July 2005 | 1719 views | 0
Target, a provider of software solutions and managed services to the financial services sector, has signed a five year contract with AA Insurance services.
Under the deal, the insurance provider will implement Target's credit processing solution, TargetCentrac, to provide its customers with the ability to pay their annual home and motor insurance premium by monthly or quarterly instalments.
The new system will meet the new CCA regulations that will require all lenders to provide customers with clearer agreements, and change the way that agreements may be settled. As part of the five year contract, AA Insurance has also outsourced the hosting and management of the system to Target.
The insurance provider has selected Target’s loan processing solution, TargetCentrac, to manage all payments and calculate early settlement charges. It has also chosen Target's solution for the management of in-bound and out-bound communications, TargetInformer, to automate the production and distribution of all customer correspondence.
Alan Joshua, Project Manager, AA Information Systems, says, "We chose to work with Target because of the flexibility that its solutions provide – as well as meeting the regulatory requirements, the TargetCentrac system can be easily integrated with our current applications, allowing us to constantly improve the service that we offer to our customers."
James Snow, Business Development Director, Target, commented, "We are thrilled that the AA has selected Target to assist on the development of this project, and provide a flexible solution that can support the organisation and its growing portfolio of financial services products."