IT and business services firm Logica said that it has been selected to extend its IT services contract for applications development and management with insurance standards organisation and software provider Polaris UK.
The contract, which has been extended for ten years, builds on Logica’s 12-year relationship with Polaris and the associated insurance market. As part of the agreement, Logica will continue to support ProductWriter, a software which captures the actuarial and underwriting aspects of insurance companies products and the Run Time Environment or RTE, which allows users to obtain terms and conditions from insurers’ products.
Logica said it will provide strategic development and support to Polaris by enhancing functionality to improve efficiency. It also will develop skeleton schemes to be used by insurers when developing new products and offer ongoing thought leadership and consultancy.
In addition, Logica is also signing a distribution agreement in partnership with Polaris, for the European market to take the benefits of ProductWriter to overseas insurers.
Earlier, Logica worked with Polaris to identify the benefits and market opportunity for a new version of the software known as the WSRTE (Web Services Run Time Environment), which offers integration option for Polaris clients.
Andrew Lloyd, director of insurance and retail financial services at Logica UK, said: “Logica is able to deliver significant innovation to Polaris. The blended delivery model provided to Polaris, by Service Delivery Manager Nick Meadows and the rest of the team, combines high quality and cost effectiveness. This extension is testament to the excellent levels of respect which the team has earned from all insurers and brokers whose own strategies include ProductWriter and the RTE.”
