Dublin software company Percana Group has won a multimillion euro contract with Commercial Union International Life (CUIL), the Luxembourg-based life assurance arm of the Aviva group.
The deal is understood to be worth €2-€3 million to Percana over a three year period, although the company would not confirm this. Percana is supplying CUIL with its Eclipse software package, a life and pensions policy administration system that provides document management and web-based access to policy information for brokers or customers.
CUIL will use the multi-lingual and multi-currency software to support its broker networks in Sweden, Belgium, Germany.
Percana chief executive and co-founder Paul O'Kane said the deal was very significant for the company as it brings it into new geographies and could open doors with CUIL's parent Aviva, the world's sixth-largest insurance group and the biggest in the UK. "Having done the due diligence and gone through the group procurement processes, it makes us more marketable with similar companies," he said.
The company was founded in 1999 by a group of independent life and pensions consultants. It employs 40 people and has an outsourcing centre in Dublin's Park West.
Percana expects revenues of €3 million this year. Mr O'Kane said it is profitable and is looking to double revenues next year.
It has been funded by private investors, as well as Italian asset management company Azimut.
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