Liverpool Victoria has selected India-based software house 3i Infotech's Premia General Insurance solution as its trading platform.
It is the first UK insurer to embrace Premia and Liverpool Victoria claims the technology will help it to become one of the top insurers by 2011.
John O'Roarke, managing director designate of Liverpool Victoria's general insurance business, and founder of ABC Insurance Solutions, said: "We have evaluated over 50 general insurance systems and come to the conclusion that Premia best supports the business model we wish to pursue in becoming a top-five general insurer within five years.
"We will be launching the system mid next year. It's going to be a very flexible software platform, more so than our com- petitors using old legacy technology."
O'Roarke predicted it would bring a cost saving of at least 1% improvement in expense ratio.
Faisal Khan, head of European operations at 3i Infotech, said the company was is in talks with a number of other potential UK clients.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
