TechLifeA L i f e & Pe n s i o n s I n d u s t r y
N e w s l e t t e r.
2 0 1 2
Is the Excel spreadsheet an ageing Actuary’s best
friend? It appears that the life and pension industry is
meandering blindly into a world of endless spread-
sheets and reporting. Actuaries appear to be afraid to
move away from the 2003 version of Excel despite
those fears being largely unfounded. So why does this
fear persist?
Are spreadsheets really the optimal way to add value
to our industry? Surely, the reluctance to move away
from older models can’t be based purely on the fact
that bespoke spreadsheets make for astounding job
security. After all, despite these recessionary times, it
can’t be wise to snip the actuary who knows how the
discombobulated array of �gures actually work.Of
course that’s not the reason, but there is no doubt
that, actuaries appear to feel bound into a monoga-
mous relationship with Excel till death, or possibly
critical illness, do them part.
It appears that the next generation of actuaries feel
compelled to follow in the path of their professional
elders. Surely, we should grasp newer technologies
with both hands and try to use them to automate the
Spreadsheets - The Ageing Actuary’s Friend // Mark Grall - Actuarial Analyst - Exaxe
drudgery of repetitive tasks.We can then focus on the
more di�cult challenges that the future holds. Excel is
merely a calculation machine, which continuously
needs reprogramming. Surely a pre-programmed
engine with discrete transparent calculations would
provide a better basis for automating and document-
ing actuarial formulae?
Well, the good news is that the future has already
arrived. Con�gurable actuarial calculation engines
already exist and provide many bene�ts not readily
available to those who prefer the multitude of
spreadsheets approach. However, there seems to be a
reluctance to go down this route. Why and what
changes would the actuarial body have to undergo if
we were to move to using automated calculation
engines as a standard?
For a start this solution, once implemented, would
eliminate the need for large actuarial teams, which is
considered by many to be a frightening prospect.
Maintenance would require vastly less knowledge of
bespoke spreadsheets and we might even go as far as
to say could even be managed by a junior member of sta�.
Is the industry fear based on the assumption that
calculation engines would mean that actuaries would
only be needed for new calculations and to overall
manage the system? I’m sure that no one actually
wants to spend his or her career in maintenance
mode rather than tackling new areas. The correlation
of the mortality of a spreadsheet and the author
actuary are ever verging towards one.
Secondly, automated engines mean that actuaries
would be readily able to understand their peer’s
calculations. This would provide more transparency
and surely improve our ailing market image. Greater
automation would likely lead to more mobility within
the actuarial industry. We should not be afraid of
spreading knowledge across the industry by
becoming a more mobile profession.
Thirdly, there is an ever-present risk that these
bespoke spreadsheets contain errors. It is not
unknown for spreadsheets, whose original author has
now been turned out to pasture, to be left...
intelligent solutions for life & pensions
1Continued Page 2...
A double dip recession may overcome inertia // Tom Murray - Head of Product Strategy - Exaxe
One of the key issues being addressed in the 2012
pension reforms is the reluctance of people to take
responsibility for their own future welfare by engaging
in long-term savings. This has been handled by
entrapping people into pension schemes and playing
on their own inertia to prevent them from opting out.
At best this could be described as morally ambiguous.
Inertia is a key driver behind the strategy to make
more people save for their own future and thus
ameliorate the looming crisis in state pension funding
that is being driven by increasing longevity.
Why has it come to this? Having failed over the
decades to get people to start saving of their own
accord the government commissioned various reports
to try to come up with the answer. The committees
thus endowed, notably Lord Turners commission,
shied away from the guaranteed answer of compul-
sory pensions and opted for the approach of
soft-compulsion, exploiting the key human weakness
of inertia to ensure that a large number of employees
who were enrolled would stay aboard rather than
actively seek to opt-out.
However, this policy was designed and decided upon
at the time of the boom in the UK and amidst the
global economic surge. The feeling at the time was
that the general feel good-factor would ensure that
people would not examine the issue too closely.
However, the world has turned and the
ever-dominating global �nancial crisis is changing
attitudes across the population rapidly.
The trouble with relying on inertia to keep the
numbers up is, that for it to work, it relies on not
engaging too strongly with the members so that they
don’t think too much about it, especially at the early
stages when the annual statements and projections
are likely to show poor returns and encourage
hard-pressed workers to opt-out or leave after a short
time in the scheme. Now that so much of the
population is struggling to make ends meet,
deductions from their pay packets are likely to be
scrutinised far more closely and without persuaders,
they are likely to conclude that a pound in the hand
now is far more useful than a future income stream
that isn’t terribly impressive anyway.
Given this scenario, the industry needs to look at
methods of making these reforms work. Inertia is
obviously not the answer. Two approaches that might
make a di�erence are either to move to compulsory
pensions or to engage with the customer in order to
ensure that they fully understand the long-term
nature of the savings and have a proper expectation
of the likely outputs from annual reviews etc.
Compulsion, while an ideal option, is politically
infeasible at the current time. Insu�cient e�ort has
been made to increase awareness of the problems
with future pension provision and the general public
are more obsessed with their day-to-day problems
and surviving the current downturn than in worrying
about their position in twenty or thirty years.
Consequently, the government would e�ectively be
seen to be increasing taxation where they to impose a
compulsory pension system and it would engender
major public opposition in the current economic climate.
Therefore, the alternative is to reach out and engage
with the employees, an approach that runs counter to
the idea of basing the whole approach on inertia. By
engaging with employees, it should be possible to
bring about an awareness of the national problem and
how it will a�ect each of them personally. It should
also be possible to educate them about what to
expect from a pension savings scheme so that they
are not frightened by the ups and downs of the
normal investment cycle and should show how they
can take control and protect their own future by
maximising theircontributions to the scheme.
Those in charge of the qualifying schemes will need
to think about how best to reach out to this new pool
of members; many of whom will never have been in a
formalised savings scheme before. Accessing these
new members will be di�cult via intermediaries,
given the cost of advice, so direct methods need to be
considered.
The big plus is that large amounts of the population
are now happy to interact via mobile platforms and
social media. The advantage of this is that you are
engaging with them on their own terms and this kind
of interaction is highly automated and therefore
low-cost; a key feature in schemes where cost control
is a huge factor.
As the new audience is generally, although not
exclusively, from the middle to low paid sector,
smartphone apps would seem to be the way to go.
These would allow people to see the value of their
own pensions and projections of future income and
could also give them control of their investments
between the selected funds. All of this would
contribute to making employees feel in control of
their own future and would encourage them to stay
within the scheme.
Without this level of engagement, the economic
downturn means that �nancial hardship will
overcome the inertia being depended upon, resulting
in a much higher level of opting out than is currently
expected. If the numbers don’t add up, future
increases in costs for those who are in the scheme are
unavoidable. This will also lead to more opt-outs and
begin a death spiral in terms of viability for the whole
project.
I believe the economic downturn means that a
complete rethink of the strategy for auto-enrolment
needs to be undertaken before we end up with a
costly failure that will inhibit future attempts to make
people take responsibility for their own future.
In this issue
A double dip recession may overcome inertia
Spreadsheets - The Ageing Actuary’s Friend
New Illustrate Plus iPad App Launched
Are PRPPs the gateway to compulsory pensions?
The cloud definitely has a silver lining
Mifid II will encourage passporting
Exaxe reports 30% increase in revenues and job creation plans for next two years
Exaxe Client wins 5 Star Financial Adviser Service Award!
Why choose Exaxe?
TechLife intelligent solutions for life & pensions
Continued from Page 1
running with errors in. Many life insurance companies
have an entanglement of spreadsheets which
frequently crash as this product was never meant to
be pushed to these limits. One saving grace is that
ever expanding computing power has made it
possible to sustain multiple instances of Excel
operating simultaneously. However, this is merely a
“plug the gap” solution at best.
Are actuaries destined to remain wedded to
spreadsheets and become the major barrier to the
growing public desire to access all information on
their assets via smartphones and tablets? When other
industries are moving to working ‘anywhere, anytime’
and are ‘always on, always connected’ there is a danger
that actuaries remain so far behind the curve that we
hold back the entire life and pension industry. We
don’t want to be seen as the’ Luddites’ of the 21st
Century.
For actuaries to take their part in the mobile world, a
move away from spreadsheets is mandatory.
Calculations cannot remain as standalone expertise but
need to be integrated with Internet systems, mobile apps
and potentially be put in the cloud.
The di�cult part is to convince those more senior
actuaries, now running the departments, that this is the
optimal strategy.
One conclusion is clear; Excel 2003 has exceeded its
expected mortality and is now being kept alive by
actuaries who are too emotionally attached to it to agree
to switch o� the life-support.
By Mark Grall, Actuarial Analystat Exaxe
Spreadsheets - The Ageing Actuary’s Friend (Contd.)
Exaxe has launched a new iPad app to support its Illustrate Plus product and facilitate instant quotations for IFAs
Exaxe, the specialist IT solutions provider for the Life and Pensions industry, recently announced the launch of its new iPad app to support its Illustrate Plus product and facilitate instant quotations for IFAs. The app will provide end users with the ability to process quotes on a remote basis and also supports Exaxe’s eApps feature which allows Straight Through Processing (STP) and to take a quote and apply for a policy instantly.
The accessibility and �exibility of the app means users can maximise the bene�ts of Illustrate Plus allowing IFAs and providers by working more e�ciently to speed up the quotation process for providers, advisers
and consumers. The app is RDR compliant.
Philip Naughton, Executive Director of Business Development at Exaxe says:
“The launch of this app is not only an excellent innovation in its own right but also enhances the well documented bene�ts of our Illustrate Plus product. Illustrate Plus supports new and existing business across all products supporting life, pensions, wealth management, group and individual business and this app will now allow our customers to do that in an even quicker and more e�cient way, opening the door to actually process quotes whilst out visiting prospective or existing clients.”
Naughton continues:
“Often �nancial services has been slower than other sectors to adopt technological change to enhance the way it interacts with each other and its consumers. However, with innovations such as this app we are hopeful that the industry will adopt a more progressive and potentially pro�table attitude to enhancements that can improve customer service and e�ciency.”
If you are interested in implementing an Illustrate Plus App in your business please call us on +35312999100 or email [email protected].
New Illustrate Plus iPad App Launched by Exaxe
2
Like most western countries, the level of pension
savings in Canada is a major issue for the government,
and increased life longevity is driving concerns about
how Canada can provide for its senior citizens in the
future.
Canada has a three-pillar approach to pension
provision, which consists of a basic non-contributory
pillar (Old Age Security Pension, Guaranteed Income
Supplement), a second pillar of statutory contribu-
tions (CPP, QPP) and a third voluntary pillar (group
pension plans, RRSPs).
Given the dramatic increases in longevity to
date—and the fact that these increases are forecast to
continue—Canada needs to look at its options to
ensure that an ever-increasing section of the
population does not sink into pensioner poverty.
In order to extend pension savings among the
populace, the majority of western countries are
considering hard or soft compulsion. In Australia, they
have already made superannuation contributions
compulsory, with employers contributing 12% of each
employee’s salary into a superannuation fund to be
drawn on in retirement. In the UK, they are
auto-enrolling all workers into pension schemes, with
the opportunity for the employee to opt out.
Are the Canadian authorities headed down the same
route?
Enter the PRPPs
The arrival of the Pooled Registered Pension Plans
(PRPPs) brings a dramatic change in the pension savings
landscape. The essence of the change is to make it
possible for those in smaller �rms and among the
self-employed to receive the bene�ts that are enjoyed
by members of larger pension schemes, thereby
encouraging them to join. This should result in better
returns, enticing more people to start saving for their
own retirement rather than relying upon the state.
Are PRPPs the gateway to compulsory pensions? // Tom Murray - Head of Product Strategy - Exaxe
PRPPs can signi�cantly expand the numbers saving,
particularly because employers must facilitate savings
via payroll deduction into the plans, which makes it
much easier for employees to contribute and to
maintain their contribution level. Another positive
aspect of the PRPP regulation is that employer
contributions, which have been shown to drive wages
down, are not required. In e�ect, the employee always
pays and making the system easier to understand
gives employees more ownership of their pension-
hopefully making them focus more on the pension
provider’s performance.
But the question remains: Will the provision of
better-value pension products be su�cient to increase
the numbers saving for a pension, or will the federal
government and provinces be required to take
stronger action by moving to a compulsory or
semi-compulsory system?
Is product enough?
The establishment of PRPPs puts the foundation in
place for moving to a semi or fully compulsory system.
But of course, having the correct product is not
su�cient for compulsory pensions to be accepted by
the general population. Forcing people to pay into
pensions feels like taxation, so the pension providers
will need to engage the individual employees to
ensure they take ownership of the products and
realize the importance of building a substantial
pension fund to live on in retirement.
The regulations for PRPPs allow individual provinces
to introduce auto-enrollment, and Quebec has already
announced a decision to take this line. Quebec is
following the UK model, allowing employees to opt
out of the scheme and hoping that the general lack of
interest in pensions will mean that the majority stay in
the scheme by default. However, this means that the
Quebec government is taking the approach that those
who are not su�ciently engaged will be relaxed
enough to permit the deductions to be made. Is it not
far more likely that they will immediately seek to opt
out from something they don’t understand, particu-
larly when the direct cost to them is so high? Surely
the general population will see this as a special tax for
living in Quebec, unless the other provinces follow
suit quickly.
An alternative to compulsory pensions is later access
to pensions, which is one way to bolster the current
system without increasing funding. However, there
does not appear to be any major desire in Canada at
present to follow the U.S. example, where they aim to
increase the retirement age to 67 by 2024. The state
cannot a�ord to plug the gap—which means it is
going to be very tempting for the provincial and
federal governments to move to compulsory pension
savings as the only way to prevent a dramatic increase
in pensioner poverty.
Conclusion
PRPPs complete the jigsaw for the Canadian third
pillar for pensions, but whether the take-up is
su�cient without compulsion remains to be seen.
Given the scale of the problem in funding pensions
and the fact that longevity increases are not going to
stop, it is hard to see how Canada can avoid merging
pillar two and pillar three during the next decade,
resulting in a fully compulsory system.
TechLife intelligent solutions for life & pensions
Despite one’s best e�orts, it is impossible to avoid
hearing about “The Cloud” at the moment. Even
non-technology based media seem obsessed by it;
calling it the number one trend that can’t be missed.
So what is it exactly is the cloud and how will it impact
the pensions sector?
What is the cloud?
The cloud is the name given to the external hosting of
software services that are provided by software
providers, obviating the need for installing the
software itself on a company’s own servers. This
allows companies to use new software without
hosting the infrastructure or having to be responsible
for maintaining and extending the systems as
regulations and market needs change. It also
facilitates a pay-per-use scenario that further reduces
the cost of ownership of the services.
The systems can be accessed directly from the
Internet, allowing business analysts to immediately
con�gure the products and processes directly without
the need for an IT project. It even allows providers to
con�gure services utilising a number of external
systems and meshing them with their own internal
systems.
Cloud systems are put in place by software providers
and hosted in datacentres, transferring all the
The cloud definitely has a silver lining // Mike O’Malley - Chief Technology Officer - Exaxe
headaches of service delivery and support to experts
and allowing the pension providers to concentrate on
their area of expertise.
What can it deliver for pensions?
The ever-changing world of technology is impacting
every aspect of our lives and the pension’s industry is
not immune. As the general population gets more
used to using the Internet, mobile devices such as
smartphones, and tablets, as part of their everyday
lives, their expectation of being able to manage their
pension savings using that technology is growing.
Subsequently, pension providers and advisers need to
provide the type of services that people expect if they
want to be seen as part of an individuals’ pension
plan.
The problem for most pension providers is that to
date their infrastructures are normally based in-house
and are di�cult to change, having evolved over the
decades and been complicated by mergers and
takeovers during that time. The result is that many IT
managers in pension providers are struggling to
maintain existing services across multiple legacy
systems in order to provide support for current
business practices. This leaves them with great
di�culties when it comes to providing the kind of
‘anytime, anywhere’ services that people now expect.
Given the big increase in the number of young people
possessing �nancial products due to the arrival of
auto-enrolment, the opportunity to reach this market
for further sales is huge, but it will have to be done on
their own terms and in a way that syncs with their
own lifestyles.
Enter the Cloud
Cloud software brings an end to the restrictions
imposed by existing legacy systems and enables
pension IT departments to aggregate best of breed
solutions to provide new products quickly to the
market and to support them with real-time service
levels. This will enable them to attract today’s
generation of customers who already receive these
levels of service from their banks.
How can we utilise cloud solutions?
The question for pension providers is how best they
can utilise the cloud to provide the kind of services
that will make them stand out from the crowd. The
answer lies in re-imagining the whole world of savings
and investments in this current age. What will savers
want in the future and how can we best provide it?
In the past, the only time anyone requested a
valuation of their pension fund was as they
approached retirement. Now, they will expect the
kind of real-time valuation delivered to their phones,
tablets and computers that they already get from their
banks. Cloud systems that can access internal policy
data will allow this to be provided through proven
secure interfaces.
They will expect to be able to make changes that will
take e�ect immediately. They will expect services that
allow them to change their investment pro�les and
switch their investments whenever they want and
from wherever they are; as they can get information
rapidly from around the globe about the performance
of various markets, so they will need to be able to act
on that information immediately.
Use of cloud solutions will allow pension providers to
provide these new levels of service without the
massive investment normally associated with system
changes. The ability to trial external software and
con�gure best of breed solutions into new services
without major upfront investment will allow the
release of new services and will give providers the
ability to rapidly customise those services based on
immediate feedback from their customer base.
Ultimately, cloud solutions provide the �exibility to
innovate that has been sadly lacking in the life and
pension industry.
Is the data safe?
One of the primary fears about utilising cloud services
is the security of the data. The �ag-carrier for the
cloud-based approach has been Salesforce.com
whose sales management services have been adopted
worldwide in most large organisations and this has
helped calm fears over the whole data loss issue. Most
large companies already have their sensitive sales data
in the cloud and therefore have already been through
the compliance issues involved.
Newer cloud strategies have moved to allay fears
even further by allowing the retention of corporate
data within the organisation ensuring that data
protection is fully under the control of the pension
organisation. The cloud services pull the data they
need for service provision but do not store it on the
cloud, saving it back to the corporate data server
instead.
The future is out there
The way forward for life and pension providers is to
unshackle themselves from the legacy systems of the
past and to make use of the cloud approach to bring
new models of pension sales and service that will
resonate with the current generation. Cloud-based
solutions bring pension providers the opportunity to
innovate quickly and respond �exibly to the faster
moving more customer-driven market that is evolving.
Those who do not embrace the new model may �nd
that the cloud adopters will leave them standing in
the rain without an umbrella.
The recent publication by the European Commission
of the latest draft of the Markets in Financial
Instruments Directive II (Mi�d II) has only served to
increase the confusion around the distribution of
investment products in the UK.
It appears that the Commission is determined to ban
commission payments for investment products but
only for independent advisers and not for restricted
advisers, while the UK’s RDR regulations, which come
into force at the start of 2013, will ban commission for
restricted advisers as well as independent advisers.
This leads to an interesting scenario, which was never
really considered when the single market was
envisioned. For a single market, the concept of
market-wide regulation makes perfect sense. Having
the same rules across the Union would prevent
individual countries from giving their �nancial
services industry an unfair advantage by having lower
levels of regulation or even none at all. It would also
provide a consistent approach for consumers,
enabling them to deal with con�dence with
distributors from other countries. What was never
envisioned at the time was that some member
countries would actually increase the level of
regulation on their own industry, thereby creating an
uneven playing �eld by giving their own distributors a
competitive handicap.
However, this is the position that the UK is putting
itself in by implementing more stringent regulations
than are proposed at European level. All any
company, either from an other member state or a UK
one which relocates and ‘passports’ into the UK’ needs
to do to stay receiving commission is to become a
restricted advisor according to EU rules and they can
sell into the UK under the rules of the country
where they are situated.
Ironically, on the same day as the Commission
announced the Mi�d rules, the Federation of
European IFAs (Feifa) announced that they were
receiving an increasing number of enquiries about
passporting from UK IFA �rms seeking to domicile
outside the UK. The release of the Mi�d II draft is
surely going to increase the numbers of those who are
considering taking this way out.
Mifid II will encourage passporting // Kathryn Desmond - Business Development Manager - Exaxe
If we are going to have a single market in investment
products across the entire European Union, and most
of us agree that such a market is desirable, then surely
it makes sense to have a single set of regulations
applying to that market.
The FSA’s strategy of going further and faster than the
Commission in the regulatory approach is not doing
the UK’s �nancial services sector any favours and
could end up damaging it by increasing the number
of IFA �rms which relocate abroad and by encourag-
ing �rms in other member states to increase their UK
operations.
When the FCA takes over, it should take note of this
danger and perhaps try to work closer with our
European colleagues so that the new regulations they
wish to implement are adopted by the commission
and applied EU-wide rather than doing solo runs
which could ultimately damage our industry.
3
TechLife intelligent solutions for life & pensions
Exaxe, the specialist IT solutions provider for the Life
and Pensions industry, recently announced a 30%
increase in revenues for the year ending 2010 and its
plans to expand the business with the generation of
20 new jobs over the next two years.
This revenue growth re�ects the continued success of
Exaxe’s innovative component based solutions for the
Life, Pensions and Wealth Management sector. In 2010
Exaxe secured a contract with Capita the leading BPO
provider in the United Kingdom to licence Illustrate
Plus® to provide full new business and existing
Exaxe reports 30% increase in revenues and job creation plans for next two yearsbusiness illustrations support for all of the books of
business administered by Capita, and will, upon
completion of this programme be used to support in
excess of 25% of all Life and Pensions policies in the
United Kingdom.
During 2010 Exaxe embarked on a market expansion
programme into Canada, Australia, New Zealand and
the Nordics and is currently engaged in detailed
discussions with a number of potential clients in these
markets. Throughout 2010 Exaxe also continued to
expand its o�ering through on-going development of
its other software components and utilities with:
• The launch of their new generation testing utility
Touchstone Plus (bringing their existing Test harness
and Test Manager into a single solution)The release of their
upgraded con�guration tool Product Development Plus 2
• The implementation of the RDR regulatory
requirements across all components
Philip Naughton, Exaxe’s executive business develop-
ment director added, “We are delighted with our
performance over the last twelve months as it
rea�rms our business strategy and provides the
platform for our planned future growth and expansion
into new markets. We are particularly delighted with
this growth in revenues and opportunity to create
new jobs in the current economic climate which has
been challenging; it proves that there is always an
appetite for innovative business solutions especially
where they have a proven track record of being cost
e�ective and delivering signi�cant business e�ciencies.”
Exaxe Client wins 5 Star Financial Adviser Service Award!
MGM Advantage (Marine and General Mutual Life
Assurance Society), previously known as MGM
Assurance, was established in 1852. Their initial
business was providing valuable life assurance to
mariners and sailors and, over the years, they
developed their range to o�er pensions, investment
and protection products.
MGM Advantage was a niche player in the UK Life
Assurance Market. Their primary distribution channel
was through their direct sales force. MGM Advantage
had a 500k policy portfolio and a diverse product
range. However, they also had multiple legacy systems
processing in Batch.
MGM Assurance, as it was then known as, intended to
re-brand and launch the company to the broker
community, a new channel for them. In order to
achieve this they needed to implement a new online
system which had the capability of processing Annuity
type products online. They also required the solution
to have straight through processing including an
online underwriting capability. MGM Advantage
L-R: Melanie Tringham (Features Editor - Financial Adviser), Claire
Barber (Head of Customer Service - MGM Advantage), Dominic
Holland (Comedian and Host)
had short timescales for this project and begun a full
selection process for a modern technology solution in
October 2007.
MGM Advantage went on to become a Five Star Award
winner in the Financial Adviser Service Awards in 2011,
and a Four Star Award winner in the previous three
years in a row following the launch of their new
channel. The Financial Adviser Service Awards are an
independent measurement of who is getting it right,
and who needs to do more work to keep their
customers happy.
Connect with Exaxe
www.exaxe.com
www.twitter.com/exaxe
www.facebook.com/exaxe
www.linkedin.com/company/exaxe
www.youtube.com/user/ExaxeLtd
Google Plus: Exaxe
4
Why choose Exaxe?
Exaxe has enabled Life and Pensions companies
launch new products faster, administer post
retirement products more e�ciently and respond with
greater �exibility to the marketplace for over 15 years.
At Exaxe, we provide expert solutions to companies
around the globe which can be integrated into any
technical landscape. Our solutions are cost e�cient
and our installation process is straight forward with
quick delivery times; our implementations range from
16 weeks to 32 weeks due to our technical structure
and implementation methodology.
Exaxe recognises changes in international regulations
and the increase of new technologies will greatly
a�ect life and pensions companies in the coming
years. Exaxe solutions aim to keep your business on
top of these changes. For instance Exaxe have made
their products RDR compliant to address change in
regulations in the UK. Exaxe have also developed a
mobile app that supports instant quotations for IFAs
with full Straight Through Processing, to leverage
changes in technology, with a major shift towards
mobile/tablet computing.
Exaxe helps companies reduce their costs by
increasing new business acquisition with the ability to
use Straight Through Processing, and reduce costs in
back o�ce servicing. Exaxe solutions allow companies
to reduce the time to market with new products by
70%. Legislative and regulatory changes can be
implemented in one tenth of the time usually taken.
Clients also bene�t from improved customer service
by ease of administration and 24/7 realtime processing.
Exaxe recruits only the best developers and analysts in
their �elds and maintains a thought leadership
environment. All our sta� is kept up to date with
changes in our client’s business and technical
environments.