SYDNEY, February 13, 2006: Australian software developer, InfoComp, today announced the adoption by Macquarie Adviser Services (MAS) of InfoCompâs new life insurance software solution, Composer Life, which was built to Macquarieâs specifications.
Composer Life will be used to support MASâ new risk platform, which has been established as part of MASâ risk minimisation and life insurance simplification program.
Rob DeDominicis, CEO of InfoComp, said, âComposer Life is an extension of our highly- successful funds administration platform, Composer. Also incorporating InfoCompâs Straight Through Processing engine, Conductor, Composer Life will substantially reduce administrative costs and improve efficiency within MASâ life insurance business.â
According to Marcus Chantry, MASâ Senior Product Manager, Insurance, InfoComp was an obvious choice for the development of Macquarieâs new insurance administration platform.
âWe 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,â he said.
âSpeed 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.â
InfoComp CEO, Rob DeDominicis, said MASâ adoption of Composer Life represented the third time it had implemented an InfoComp solution. âIn 2004 MAS implemented InfoCompâs STP engine, Conductor, to complement its initial adoption of Composer in 2000. We are extremely pleased MAS chose InfoComp for a third time,â he said.