Acorn Life deploys Financial Risk Solutions’ Invest|Pro for investment administration
Acorn Life has deployed Financial Risk Solutions' (FRS) Invest|Pro platform to manage its Life Assurance book of business.
Replacing legacy in-house systems, Invest|Pro will manage the investment administration of all Acorn Life unit-linked funds, including unit-pricing, cash allocation and rebalancing, and trade order management. By moving to the automated Invest|Pro software, Acorn Life stands to benefit from reduced operational risk and increased efficiency.
Established in 1989, Acorn Life is an Irish owned life assurance company providing protection, pensions, savings and investment solutions to the Irish public. The company recorded €698 million of assets under management at the end of 2018.
Jennifer Loftus, Head of Actuarial Function at Acorn Life, says: “When the time came to move from in-house investment administration to a specialist provider, Financial Risk Solutions was the obvious choice. The Invest|ProTM platform is a market leader in unit-pricing and unit-linked fund administration, and their wealth of domain knowledge in this specific market is second to none.
"The upgrade to Invest|ProTM was expertly led by the FRS project team and completed in just six months, allowing us to stay focused on our customers.”
Frank Carr, Director, at FRS, says: “Acorn Life is one of Ireland’s great business success stories. They have been operating for over 30 years, have a team of 250 staff and financial advisors across the country, and are well respected for their dedication to quality customer service.
"We are proud to have been selected as their investment administration partner and look forward to a long and fruitful partnership supporting them in their continued growth.”