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Milestone to help Zurich Australia in automation

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CIOL Bureau
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ENTERPRISE AUSTRALIA: Milestone Group's pQuant and pControl platforms will now automate many middle office functions spanning investment analytics and fund processing at Zurich Financial Services Australia.

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At the second largest insurer of global corporate business, the platform pQuant will automate performance and attribution reporting including GIPS, while pControl will automate a range of supporting functions including unit pricing and post pricing validations, cash allocation and re-balancing, unitized order management and selected reconciliations.

Zurich employs approximately 60,000 people globally serving customers in more than 170 countries. Zurich's Australian business operates the core business lines of general insurance, life risk, investment and superannuation solutions under Zurich's global brand and employs approximately 1000 people.

Phil Davies, Milestone Group's Head of Product , said, "Clients are looking to identify a complete and contemporary solution to their middle office needs, while having confidence that the platform and vendor will be able to respond effectively to future needs. There is a lot of focus on achieving an efficient and cost-effective solution that provides a robust operating platform while enhancing business flexibility and agility. "