Bravura Solutions, a provider of wealth management applications and professional services has entered into an agreement with Bao Viet General Insurance (BVGI) in Hanoi, Vietnam, in conjunction with SSP, a provider of insurance technology.
According to Bravura, the agreement includes the licence and implementation of SSP’s general insurance administration solution called InsureJ and is worth approximately AUD4.4m over the initial five-year term. The application will support more than 2,500 employees that service over 10 million individuals and companies, and will be integrated with Bravura’s life insurance application TalisLife, currently being implemented at Bao Viet Life Insurance.
SSP’s InsureJ technology is a component-based system that consists of several independent Java EE service-oriented architecture components, which allows insurers to integrate with other systems. It allows BVGI to streamline current processes, launch new products and improve customer service.
Simon Woodfull, group CEO and director of operations at Bravura, said: “The agreement with BVGI follows Bravura’s selection by Bao Viet Life Insurance to implement TalisLife, our life insurance solution, and reinforces our position as a major solutions provider in the insurance sector and an increasing presence in the Asian market.”
Alan Royal, chief information officer for Bao Viet Holdings, said: The InsureJ solution is very flexible, scalable and cost-effective, and will empower the integration of our life and general insurance businesses. Deploying two highly respected solutions across the businesses will enable us to automate and streamline our processes and improve our efficiency.”