Aviva, a British multinational insurance company, has partnered with GBST to implement the Composer software-as-a-service (SaaS) platform for its individual annuities business transformation program. The platform will support Aviva’s efforts to enhance its retirement planning offerings and improve the customer experience. With 25.2 million clients across the UK, Ireland, and Canada, Aviva is leveraging the Composer platform to capitalize on the resurgence of individual annuities sales.
The Composer platform provides Aviva with the flexibility and security to accelerate its transformation and deliver innovative retirement solutions. The platform’s operating model supports both existing annuity customers and new product innovation, enabling Aviva to launch new products and migrate existing customers to the new platform. The first phase of the rollout has already seen the launch of a guaranteed fixed-term income plan, with further developments underway to introduce additional annuity products.
The partnership between Aviva and GBST has enabled the rapid deployment of the Composer platform, which is designed to support automation and straight-through processing. This will help Aviva to speed up onboarding, scale payment processing capabilities, and reduce friction to maximize operational efficiency. According to Claire Reed, Director of Individual Annuities at Aviva, the Composer platform will enable the company to deliver innovative retirement solutions that meet the evolving needs of retirees.
GBST’s CEO, Rob DeDominicis, noted that the company will help Aviva deliver an operating model that focuses on automation and straight-through processing. This will enable Aviva to improve the customer experience and increase operational efficiency. The partnership marks an exciting step forward in delivering innovative retirement solutions and demonstrates Aviva’s commitment to enhancing its customer offerings. With the Composer platform, Aviva is well-positioned to capitalize on the growing demand for individual annuities and deliver high-quality retirement planning solutions to its customers.