Sentinel Security Life Insurance has signed an agreement with UNIT4 Business Software, to provide UNIT4 Coda Financials to enable manage its rapid growth.
Under the terms of the contract, Coda will support ongoing change and modernization of the insurer’s system and allow it to grow its business rapidly.
Sentinel Security Life Insurance chief information officer David Rasmussen said, "In anticipation of new product offerings and an expanding market, we needed a robust solution that could provide real-time financial visibility and control across our people, processes and systems."
The main reason for the selection of Coda Financials was that the system has an ideal architectural design, which is easy to implement, run smoothly on the IBMi platform, with better reporting capability.
"Coda Financials’ ability to integrate seamlessly with front-office systems such as our commission and incentive compensation system was critical." Rasmussen adds.
Explaining the need to modernize the system, Rasmussen stated, "We have aggressive expansion plans over the next ten years and we expect Coda Financials to play an important part in the development of our company."
Sentinel, which offers competitive and quality insurance products to seniors, expects to be up and running on Coda Financials by the second quarter of 2014.