Bravura Solutions, a supplier of wealth management software applications, has signed a contract with Partners Life, a New Zealand-based life insurance firm, for its Sonata wealth management software.

The five-year contract will see Partners Life, a new entrant to the market, implement Sonata as its insurance administration platform, across all aspects of the policy lifecycle from new business to claims processing.

“Sonata will provide the solution to meet our administration, workflow, broker new business interface and reporting requirements. We expect Sonata to provide exceptional levels of straight-through-processing with no need for costly integration or diverging systems. This is ultimately a benefit we will be able to pass on to our customers in the form of cost reductions and enhanced service,” said Naomi Ballantyne, one of the founders of Partners Life.

As well as life insurance, Sonata has functionality for pensions and trusts, with superannuation functionality due to be released in the first half of this year.