Wealth management software and services company Bravura Solutions (ASX:BVA) has implemented its life insurance administration solution for Vietnam's Bao Viet Life Insurance Corp.
Bao Viet has installed Bravura's TalisLife suite across its entire Vietnam branch network, Bravura said.
Bao Viet Life has 64 branches and 500 sub-branches, and has 1.5 million policies overseen by 1750 employees and 16,000 agents.
The implementation involved a full migration of data from the current in house legacy system, and was conducted in parallel with a new central processing centre.
The life insurance company has been seeking to convert its business operations into a centralised processing model, and chose the suite as part of these efforts, Bravura said.
Bao Viet Holdings CIO, Alan Royal, said he expected the upgrade to improve operational efficiency, allow tighter control of business operations and reduce time to market for new products.
He said TalisLife had been chosen after a lengthy evaluation process.
According to Bravura group chief executive, Simon Woodfull, the implementation “consolidates Bravura's growing presence in the Asia Market.”
BVA shares declined 2.22 per cent during Thursday's trading to $0.220.