Technology giant IBM and insurance specialist DWL are set to shake up the insurance technology market with a joint customer administration system.
The system combines IBM's service and hardware capabilities with DWL's business services software.
Using the system will give companies the ability to consolidate customer information from business and customer management systems.
A service will also be available to enable customers, partners, brokers and employees to execute end-to-end business transactions on the internet.
IBM global insurance general manager William Peroni said: "IBM's alliance with DWL will allow financial services institutions, from banks to brokerages to insurance companies, to get a total view of their customers."
Under the terms of the agreement, DWL will promote IBM hardware while IBM will provide consulting, customisation and integration services for joint customers.
An insurance technology consultant said: "Being a huge multinational, IBM is a force to be reckoned with and this could scare a few competitors in the insurance market."
He added: "IBM is good at dealing with other large firms.
"But it is not the best when it comes to servicing small to mid-size companies, such as brokerages
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