Dublin financial services software company Fineos, has announced it is moving into the German market with the sale of its life and pensions system, Fineos Life Front Office, to Canada Life.
The deal will see Canada Life Assurance (Ireland) expand on its current licensing agreement with Fineos to service the insurer's German-based business.
Canada Life recently expanded its business in Germany by acquiring the business operations of Prudential in Germany.
Fineos employs around 250 people in offices in Ireland, the US and Britain.
Canada Life will use Fineos Life Front Office to provide sales and service staff based in Dublin, Cologne and Neu-Isenburg with a single view of customer information across all locations and distribution channels.
Canada Life will service the new German business from Dublin and Neu-Isenburg while using its almost 7,000-strong German-based intermediary network for distribution.
Commenting on the announcement, Mr Sean Mullarkey, IT Manager, Canada Life, said: "The Fineos solution will improve the servicing of policies for our staff - and more importantly for our customers and brokers.
"The solution already has a huge impact on customer service in our Dublin office for our Irish portfolio and I have no doubt that that level of service will be replicated in Germany by making the Fineos solution available for this market."