LIBERATA SELECTS EXAXE’S ILLUSTRATE PLUS AS ITS ILLUSTRATIONS AND CALCULATIONS SOLUTION

19 April 2007

Liberata, one of the UK’s leading business process outsourcing providers, has chosen Exaxe to provide its market-leading illustrations and calculations solution Illustrate Plus®.

Exaxe developed Illustrate Plus® to enable efficient product rationalisation and configuration across multiple platforms. Illustrate Plus® will form an integral part of Liberata’s Life & Pensions expanding open book services.

Liberata manages more than 3.5 million open and closed book policies, with clients including Barclays, AXA, JP Morgan, Phoenix Life, and Chesnara. Exaxe has worked with Liberata over the past three years delivering specialist business, IT and actuarial consulting services.

The Illustrate Plus® implementation will cover conventional pensions, unit-linked pensions, protection products, whole-of-life and endowment products.

Phil Dale, Chief Technology Officer at Liberata said:
“Illustrate Plus® can play a key role as we expand our service offerings to include open book new business processing, self-service for agents and policyholders, and support for complex new products such as wraps.

“We needed a solution that could be implemented in a cost-effective and efficient way, and provide rapid implementation of new actuarial calculations. Illustrate Plus® is an excellent fit. It is technically compatible with our current migration and business process outsourcing architectures and our future plans. Its SOA platform is scalable and can integrate with any future books of business we may acquire.

“We were influenced in our decision by Exaxe’s excellent track record with Liberata of delivering successful complex, technical and business consultancy assignments.”

Philip Naughton, Exaxe’s Executive Business Development Director said:
“We are delighted to have this endorsement from Liberata for Illustrate Plus® and Exaxe. Illustrate Plus will support Liberata with improved process efficiencies, reduced operating costs, ease of implementation of regulatory changes and key features to support Treating Customers Fairly. This deal puts us in a leading position of illustration and calculation solutions to the UK Life & Pensions outsourcing market."

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