DGAP-News: adesso launches life insurance management platform and announces long-term contract with Frankfurter Leben Group
DGAP-News: adesso SE
/ Key word(s): Incoming Orders/Contract
adesso launches life insurance management platform and announces long-term contract with Frankfurter Leben Group IT service provider adesso has launched an innovative service to allow German life insurance companies to manage their runoff policies using a software-as-a-service (SaaS) platform. The solution, provided by new adesso subsidiary AFIDA GmbH, gives insurers the opportunity to outsource their traditional life insurance business to a specialised policy manager. The first major customer to sign up for the new service is the Frankfurter Leben Group, which has awarded AFIDA an extensive migration and portfolio management project. Under the long-term framework agreement, AFIDA will provide the end-to-end, SaaS-based technical platform as a cost-effective and efficient means of managing life insurance policies and migrate around 500,000 runoff policies and new portfolios from Frankfurter Leben to this service. Years of low interest rates are prompting more and more German life insurers to turn away from conventional products. High guaranteed rates for existing customers, rising administrative costs and the consolidation of new business across a handful of providers are proving to be a challenge to many companies. An increasing number of insurers are focusing on their core business and are looking for professional and low-cost outsourcing solutions for their life insurance units, which encompass some 90 million policies in Germany. adesso has come up with the right offering for this trend on the basis of its existing product family. Subsidiary adesso insurance solutions’ tried-and-tested, award-winning in|sure Ecosphere product family is the perfect accompaniment to migration and management processes, with established in|sure PSLife policy management system forming the backbone of the new management platform. MIGSuite will be used to migrate the runoff policies. This end-to-end service will be made available to insurers as a cloud-based software-as-a-service solution, allowing them to manage and process their runoff portfolios at a transparent price point. Experienced business manager Harald Narloch, a long-time member of the adesso insurance solutions GmbH management team, has been charged with leading AFIDA GmbH. “Our tailor-made service offering is the perfect response to the high level of demand in the insurance industry,” says Michael Kenfenheuer, CEO of adesso, underlining the tremendous/significant potential of the new portfolio element. “AFIDA is our service for the market, allowing providers to leverage the necessary consolidation effects while leaving their life insurance portfolios in good hands. The long-term contract with Frankfurter Leben is a testament to the outstanding insurance expertise at adesso.”
adesso Group Contact: Martin Möllmann Manager Investor Relations Tel.: +49 231 7000-7000 E-Mail: [email protected]
07.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | adesso SE |
Adessoplatz 1 | |
44269 Dortmund | |
Germany | |
Phone: | +49 231 7000-7000 |
Fax: | +49 231 7000-1000 |
E-mail: | [email protected] |
Internet: | www.adesso-group.de |
ISIN: | DE000A0Z23Q5 |
WKN: | A0Z23Q |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London |
EQS News ID: | 1391851 |
End of News | DGAP News Service |
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1391851 07.07.2022
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