Software developer InfoComp has completed the latest extension of its Composer administration system, Composer Life, which has been tailored for Macquarie Adviser Services (MAS).
Composer Life will be used to support MAS’s new risk platform, which has been established as part of the MAS risk-minimisation and life insurance simplification program. According to Marcus Chantry, MAS’ senior product manager, insurance, InfoComp was an obvious choice for the development of Macquarie’s new insurance administration platform. “;We looked for a company that could provide a tailored administration system to support our adoption of straight through processing for life insurance,” he said. “We also wanted a solution that would integrate quickly and easily with our existing systems. Speed 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.”; Rob DeDominicis, chief executive of InfoComp, said Composer Life would substantially reduce administrative costs and improve efficiency within MAS’ life insurance business. He said MAS’ adoption of Composer Life represented the third time the Macquarie Bank division had implemented an InfoComp solution. “;In 2004, MAS implemented InfoComp’s STP engine, Conductor, to complement its initial adoption of Composer in 2000. We are extremely pleased MAS chose InfoComp for a third time,”; he said.
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