Bao Viet Life Insurance, Vietnam-based insurance company, has deployed Bravura Solutions' life insurance administration solution TalisLife.
Bravura said that the TalisLife solution has been rolled-out across the Bao Viet’s entire Vietnam branch network, involving a full migration of data and replacing the current in house legacy Bao Viet Life system.
The solution was implemented in parallel with a new central processing center, allowing for full centralization of business operations and transforming Bao Viet’s business from a distributed into a centralized processing model.
According to the Bravura, the TalisLife is a key module within the Talisman solution and is a client-centric, rules based application with work-flow management that allows flexible administration of a range of traditional and non-traditional investment linked life insurance products.
Bao Viet Holdings chief information officer Alan Royal said this implementation is a key step of Bao Viet’s ‘modernisation’ initiative to strengthen its position in the market and give it a clear IT edge over competitors.
Bao Viet Life, a subsidiary of Bao Viet Holdings, is a government-owned institution with strategic shareholder, HSBC.