Life insurance software provider Monvia has debuted on the Australian Securities Exchange after raising $17.5 million from investors in its initial public offering.

Its Monvia Life Platform is a cloud-based, “end-to-end core software solution” that helps life insurers manage new business, policy administration, claims and reinsurance across retail, group, corporate and direct distribution channels.

CEO Simon Bright says the listing is a milestone for the group.

“We are a business with nearly three decades of life insurance expertise and a modern, cloud-native platform that our clients rely on to run their businesses end to end,” he said.

“Our work with key clients in Australia demonstrates what is possible when our platform is deployed at scale, supporting stronger market performance in a structurally challenging sector.”

Monvia rebranded from Axe Group in November last year after its current leaders took ownership of the business that July.

It has been building a new business pipeline across Australia and New Zealand, and pursuing early-stage opportunities in southeast Asia.

“We intend to build on our proven track record by expanding within our existing client base, growing our footprint across Australia, New Zealand and southeast Asia, and pursuing acquisitions that are genuinely accretive to our platform and shareholders,” Mr Bright said.