CommInsure's Wholesale Life division went live with the system at the beginning of the month, initially for two of its largest industry fund clients, HESTA and CareSuper. The 895,000 plus members of these funds can now use a self-service portal which features a calculator to let them see if they have enough insurance cover associated with their superannuation.

The Axelerator platform is centred on a rules based engine which can be used to tailor a system for individual clients. With a focus on straight through, real time processing the system can be used to generate quotes, policies and handle claims.

HESTA and CareSuper members who decide they do need top up insurance after using the online calculator can receive real time responses to their request as Axelerator automates the quoting and underwriting processes.

Kimberley Lathe, Axe Group CEO, said that CommInsure was the largest company that Axe had worked with to date. She said the deal was won in the middle of the year, and Axe then worked with CommInsure on the analysis and design phase, before actually building the system in just ten weeks.

'It was delivered on time and under budget,' she said. The value of the deal has not been revealed.

Ms Lathe said that the CommInsure sale would boost the firm's profile internationally. She said that Axe was already speaking to a prospect in China.

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International expansion is one of the objectives for the company. Axe has already established a representative office in Hong Kong and in September announced that BNZ Insurances, a subsidiary of the Bank of New Zealand (itself a subsidiary of the NAB), had signed up for its Axelerator Insurance Platform for bancassurance.

Axe Group was established in 1997, and launched its first products in 2000, aimed at the larger insurance company sector. It has now sold systems to a clutch of leading Australian life insurance companies including AIA Australia, Calliden Group, AHI, Macquarie Life and ARHub.

Besides selling products, the privately held company which employs 60-70 people according to Ms Lathe, operates a services division that offers software development services, which has worked with MBF, Allianz Australia, MLC and Optus.