Wealth management software and services company Bravura Solutions (ASX:BVA) has signed a deal to provide its Sonata suite to a New Zealand life insurance company.
Partners Life has arranged to license the Sonata wealth management software for a five-year term, Bravura said on Friday.
The insurer, a recent entrant into the New Zealand life insurance market, will deploy Sonata as its insurance administration platform.
Co-founder Naomi Ballantyne said the company selected Bravura's offering “after extensive market analysis.”
She added that Partners Life expects Sonata to “provide... straight through processing with no need for costly integration or diverging systems.”
Financial terms of the agreement were not disclosed. BVA shares on Friday grew 2.63 per cent to $0.195.