The new managing director of Norwich Union’s Lifetime wrap has refused to confirm whether it will be opened to new users this year.
Toby Strauss says no decision has been taken on which third-party IT provider will be contracted to help run and administer the platform.
He says the company must complete investigative work and due diligence before taking a decision and therefore a relaunch date has yet to be set.
The platform has been closed to new users since the summer after it suffered from admin problems.
Strauss says: “We are going to move pretty quickly over the next few weeks to the point where we are clear on the direction in which we are heading.”
He says Lifetime was a “victim of its own success” in trying to bring a scale- able platform to market so quickly with the way that its systems were bolted together and constructed.
Strauss says: “We are looking at the whole way that we take the work forward in terms of enhancements and the rebuilding of the plumbing.
“We continue to think that the whole world of wraps and straight-through processing will continue to grow and we want to be in that place. Watch this space.”