Wholesale broker Millennium has signed up with software house Sirius for its Sirius for Brokers system.
The move is an attempt to gear up for FSA-controlled regulation and the company's expected growth in the medium term.
Shropshire-based Millennium has approximately 20,000 customers. Its core areas of business are its delegated household and creditor (mortgage payment protection) schemes.
Other areas of business include commercial insurance and professional indemnity for mortgage brokers and independent financial advisers.
The new system is part of a total Millennium investment in new hardware and software of over £60,0000. It will take three months to install and will replace Millennium's in-house system.
Millennium managing director Stephen Clowes said: "Our existing system wasn't developing as quickly as we needed it to. We had to be fit and ready for 2004 and we couldn't sit around waiting."
He said the new system would integrate accounting, policyholder and customer data and provide necessary electronic data interchange facilities.
Clowes, who joined Millennium in January from internet bank Egg, added that Sirius had beaten of bids from several other software houses to win the contract and that its offering best supplied what Millennium was looking for.
Sirius account manager Grant Scott said a key benefit of the system was its ability to help Millennium monitor the business it received from its various agents.
"Millennium will be able to identify what business is coming from which agent and look at the agents that are supplying high claiming clients," he said.
