Is your business
facing one of these pressures?
An Airas Intersoft Limited client headquartered in Benelux purchased
a number of banks and insurers in Central & Eastern Europe. Our
client also developed green-field life assurance operations in some
of these Countries. All their Life Companies had high growth objectives
typical for emerging markets. As individual companies, they also
had specific obligations to meet their own country’s legislative
and procedural obligations. Naturally, customer information
needed to respect the local language and our client also needed
to be able to issue products in both local and other currencies,
particularly Euros.
Our client required
a core system for their new Life operations, which
whilst essentially having the same look and feel, could cater for
the different products, legal framework and functionality in each
country. To avoid expensive re-work, further system developments
in one country were to be utilized elsewhere, wherever practical.
The system had to be suitable for the smaller operations,
but capable of expanding as business increased and
handle larger operations which our client might
acquire. In addition the system had to be multi-lingual
and multi-currency.
All of our installations have been in use, and the users trained, within a few
months from sign-off of the clients' requirements specification. This includes
those installations that have required the translation of the input screens and
support information into other languages. We pride ourselves on not just our
speed - but the quality of our work and our ability to deliver on time and to
budget.
A
multi-national Airas Intersoft Client has Life Offices in
four different countries , marketing a
variety of products (conventional and Unit Linked) adapted to local
needs. In each country they use a number of different distribution
channels and methods of premium collection. Each subsidiary runs different
Accounting, Actuarial and Business procedures and systems.
The Head Office in London wanted a single core
system that could handle their new business as well as all existing
business. It had to be able to accommodate all the existing products
from each country, in some cases numbering hundreds of thousands
of records. The system had to cater for a variety of
distribution channels, premium collection modes as well as differing
administration procedures. It was important that that the new system
was implemented with minimal disruption to existing procedures
and as inexpensively as possible. All existing business had to
be converted into the new core system within a short time span.
The best solutions come from working with
the most demanding clients - are you one of the following?
| |
Life Insurer or Pension
provider seeking a secure, functionally rich and value for
money administration system |
| |
Life Insurers with activities in numerous
countries |
| |
Insurers providing offshore financial
solutions |
| |
Bancassurers or other financial
service providers looking to support Life & Pension
products |
| |
Non-Life Insurers looking to enhance
their product range with Life and/or Pension products |
Addressable Needs for
Airas Intersoft Customers
Quick Payback
Speed to launch
Regulator Stamp
Language
Flexible
Business Adoption (HQ & local) |
