Gratex is hoping to gain a foothold in the local insurance space with UPM2, its latest underwriting process management software suite.
The Slovakian business systems vendor has used its Australian development team to design the software with local insurance agencies in mind.
Gratex International Australia managing director, Milan Neklapil, said UPM2 covers areas such as financial management and audit trails to customer relationship management (CRM) and reporting.
“It’s an end-to-end business management system for managing all aspects of an insurance agency,” he said.
Neklapil said there is no special reasoning for the timing of the release beyond addressing the current needs of insurance agencies.
Gratex carried out a survey that found 68 per cent of underwriting agencies pointed to fierce competition in the marketplace as the key challenge.
Seventy-four per cent of respondents also said business systems are critical in improving their business flexibility and scalability in this environment
“The insurance market is very competitive, with newcomers and insurers selling products directly,” Neklapil said.
“Those insurance agencies need to be agile in terms of competing with those other players.”
Gratex hopes UPM2 will stand out in the A/NZ region for its home-grown customisation.
“It is well suited for the local market and to gain a market share among local companies,” Neklapil said.
Patrick Budmar covers consumer and enterprise technology breaking news for IDG Communications. Follow Patrick on Twitter at @patrick_budmar.