Percana Group go live with Sella Life
July 1st, Dublin - Percana Group today went live with the provision of full Third Party Administration Services (TPA) to Sella Life, the Dublin-based subsidiary of the Italian banking group Banca Sella.
Sella Life selected Percana as their new TPA provider after a rigorous analysis of existing solutions in the market. Under the terms of the five-year agreement, Percana will provide Sella Life with the full range of Third Party Administration Services including policy, fund and financial administration from its outsourcing centre in Dublin.
Tiziano Motteran, General Manager of Sella Life commenting on the announcement, “ Percana’s proven track record and its ability to deliver a competitively priced service utilizing superior technology were major reasons for our decision to select Percana. Over the coming months we plan to relaunch Sella Life by restructuring our operations and increasing business volumes with new product releases. We regard Percana’s role in Sella’s relaunch as vital to our success”.
Paul O’Kane, Executive Chairman of Percana said “ We are delighted that Sella Life has selected us as their new outsourcing provider and look forward to building a strong working relationship with Sella Life. This contract win validates Percana’s outsourcing model. Utilizing our enterprise platform Eclipse, which is one of the most flexible, modular and scalable solutions in the market, we are able to deliver an effective and efficient service to our clients.
The continued growth and success of our existing outsourcing clients AZ Life and Arca Vita International is testament to the strength and effectiveness of the Percana model and demonstrates to the market that we deliver an excellent service with significant financial and operational savings. With the addition of Sella Life, Percana is now managing over €1.6 billion in funds under management in its outsourcing operation.”
Percana’s Outsourcing and Third Party Administration Services are based upon its flagship product Eclipse. Eclipse has been designed and built using up to date client server technologies for the Life and Pensions market, which currently faces numerous challenges as the competitive landscape alters and new regulations come into force. The solution is unique in that it has been designed and built with Internet connectivity as a core delivery mechanism and uses XML throughout to accomplish both component integration and interfaces to external systems.
Percana has been steadily growing its client base over the past 12 months. In June Percana signed an Eclipse license agreement with the UK based income protection provider Dentists’ Provident Society. Percana’s clients also include Commercial Union International Life, the Luxembourg-based Life Assurance arm of the AVIVA group and Quinn Life, the Irish based Life and Pension provider.
About Percana
Established in 1999, Percana Group provides mission critical software, outsourcing and consultancy services to the Life and Pensions industry. Its product and service offerings are based on the Eclipse Product Suite, which is used to manage a wide range of Life and Pension products efficiently, securely and cost effectively throughout their life cycle.
About Sella Life
Sella Life is the Dublin based subsidiary of the Italian banking group Banca Sella. It was established in Dublin in 1999. Its parent Banca Sella is engaged mainly in the financing of private individuals and small and medium sized enterprises. Sella Life provides a wide range of unit-linked life assurance savings products and portfolio bonds . Its products are distributed through Banca Sella’s retail bank branches in Italy.
