Macquarie Adviser Services rolls out InfoComp life insurance software

Source: InfoComp

Australian software developer, InfoComp, today announced the adoption by Macquarie Adviser Services (MAS) of InfoComp's new life insurance software solution, Composer Life, which was built to Macquarie’s specifications.

Composer Life will be used to support MAS' new risk platform, which has been established as part of MAS' risk minimisation and life insurance simplification program.

Rob DeDominicis, CEO of InfoComp, said, "Composer Life is an extension of our highly- successful funds administration platform, Composer. Also incorporating InfoComp's Straight Through Processing engine, Conductor, Composer Life will substantially reduce administrative costs and improve efficiency within MAS' life insurance business."

According to Marcus Chantry, MAS' Senior Product Manager, Insurance, InfoComp was an obvious choice for the development of Macquarie's new insurance administration platform.

"We looked for a company that could provide a tailored administration system to support our adoption of straight through processing for life insurance. We also wanted a solution that would integrate quickly and easily with our existing systems," he said.

"Speed to market was a key consideration in selecting partners for the expansion of our life insurance business. Despite the aggressive timeframes we had set, InfoComp managed to deliver a tailored solution for us on time and within budget."

InfoComp CEO, Rob DeDominicis, said MAS' adoption of Composer Life represented the third time it had implemented an InfoComp solution. "In 2004 MAS implemented InfoComp's STP engine, Conductor, to complement its initial adoption of Composer in 2000. We are extremely pleased MAS chose InfoComp for a third time," he said.

Macquarie is just one of a growing stable of InfoComp clients, which also include Asteron (Promina Group), Credit Suisse, JPMorgan, Merrill Lynch, RBC Dexia, Oasis Asset Management, LM Investments and Perpetual Investments.

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