Percana Secure Major Outsourcing Deal with Azimut
In February 2003 Azimut Holding S.p.A. incorporated a life assurance company in Ireland (AZ Life Limited) which will supply life assurance products expressly designed for Azimut. At this stage, AZ Life Limited are preparing their licence application.
AZ Life Limited will have a streamlined company structure in Dublin that will take advantage of the collaboration with Percana Group Ltd, an established Irish company specialising in product development, consultancy and outsourcing services for the life assurance and pension sectors.
Percana was established in 1999 by a group of experts with extensive experience in information technology and management of life assurance products. Percana has developed a very powerful and flexible rule-based policy administration system (Eclipse) with Internet connectivity at the core of its design.
Percana International Managed Services Limited, a new subsidiary of Percana, will provide Third Party Administration(TPA) services to AZ Life Limited from its TPA Centre in Dublin.
At the same time as signing the TPA services agreement with Percana, AZ Life acquired a minority equity stake in this Irish company bringing a partnership philosophy coherent with the structure and aims of Azimut Group.
