12.08.2008 | Austria
S&T expands business with insurers in Central and Eastern Europe
Strategic Partnership with FirstApex Group launched
More than 25 years of experience
FirstApex, a SEI CMM Level 4 certified company, is one of the world’s leading providers of core insurance and reinsurance IT solutions. The company is headquartered in Singapore with operations in Europe, India, Japan, China, Korea, and the Middle East. In 28 successful years, FirstApex has implemented more than 130 projects for renowned customers such as Allianz, AIG, Marsh, AON, AXA, Mitsui Sumitomo, Tokio Marine, Mitsui Sumitomo Re-Insurance, Equatorial Reinsurance, Royal Sun Alliance, Generali, etc.
Solutions for the entire insurance value chain
S&T now offers the entire portfolio of FirstApex products as a part of its consulting and services portfolio. This enables it to offer integrated and comprehensive solutions for property and casualty insurers, reinsurers, life insurers and group life insurers, as well as pension and health insurers. Rosner: “We see a particular need for FirstApex solutions at companies that want to introduce a new solution of this type and companies that may be running SAP for ERP, but are looking for specialized software for their core business.”
IT expenditure also on the rise at Western European insurers
Meanwhile, at the same time as Central and Eastern European insurers are upgrading and enhancing their IT systems to keep up with rapid growth, Western European insurers are concentrating on the industrialization of their processes and customer relations as they seek to establish long term competitive advantages. In this context, IT is expected to realize cost benefits and make a positive contribution to the bottom line by supporting innovative operating systems. “Our insurance customers in Western Europe are not concentrating on core applications – they are investing in process optimization, simplification and operational controlling systems. A higher IT spend in the battle for new customers is seen as contributing to profitability”, explains Rosner. “Naturally we support our insurance customers in Western Europe with their IT requirements. Our consultants and technology experts draw on deep knowledge of the branch, and provide the professional and technical expertise required to ensure comprehensive support for both local and international projects.”
* Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Hungary, Macedonia, Moldavia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey, Ukraine.