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Asseco launches a new product for the insurance industry

Asseco Group Life is a comprehensive IT solution designed to support group life insurance, including protection and investment policies. Automation, flexibility and dynamic group policy management are just a few key advantages of this system.

Asseco Group Life is a comprehensive IT solution designed to support group life insurance, including protection and investment policies. Automation, flexibility and dynamic group policy management are just a few key advantages of this system. 

Group insurance is a very specific and one of the fastest growing segments in the Polish insurance market. In 2013, the number of policies and insured persons increased by 20% and similar growth is forecast for 2014. Therefore, this segment of the market is becoming increasingly important for insurers. Concurrently, group insurance operations are a complex and dynamic process. Suffice it to say that the largest group insurance contracts include several thousand insured persons, and premium related operations can be counted in hundreds of millions annually.

In order to meet the expectations of the Polish market, Asseco Poland has created a specialized application – Asseco Group Life. The system was developed right from the beginning as a dedicated solution for group insurance. During the development phase, we paid special attention to the system architecture in order to ensure efficient mass processing, reversibility of operations, optimization of performance, scalability, and control mechanisms.

“The system has been designed and built to support group insurance. Asseco Group Life sets the user free from performing thousands of manual routine operations, significantly reducing the work effort and the number of errors. We provided automation and data validation mechanisms, wherever it was possible," says Włodzimierz Serwiński, Vice President of Asseco Poland.

The solution offers a rich set of functionality, including flexible parameter-driven configuration of insurance products as well as support for the full lifecycle of a policy, starting from registration of applications and policy binding, through customer management and handling of accessions, policy accounting, and ending up with benefit settlements and policy termination. Additionally, the solution supports the process of calculation and reporting of commissions as well as management of investments. Built-in mechanisms enable rapid and cost-efficient implementation of new or modified insurance products, effectively reducing their time-to-market.

Asseco Group Life provides support for sales processes and policy administration. The system can be operated in a model adjusted to specific group insurance operations as well as online, through a web browser, which enables highly efficient, centralized policy servicing by a large number of users working simultaneously.

"Thanks to the applied technologies and system architecture, Asseco Group Life is a perfect match for the requirements of Polish life insurance companies. The system comes equipped with multiple mechanisms for performing elementary operations on user-specified ranges of data, be it the whole contract or a subgroup of insured individuals. The system is well prepared to handle individually continued policies, allowing to maintain relationships with customers that, for various reasons, depart from group insurance schemes. It is a powerful business tool that increases the rate of customer retention," emphasizes Włodzimierz Serwiński.

The functional and technological properties of Asseco Group Life are presented on the product dedicated website: http://insgl.asseco.com/

Asseco Group is one of the leaders in the global market of IT solutions for the insurance industry. The Group’s product portfolio features comprehensive IT systems to support the property and life insurance operations, as well as solutions related to the implementation of Solvency II requirements. In Poland, Asseco’s insurance clients include PZU Group, Warta Group, HDI Asekuracja, Generali, ING Group, and the Insurance Guarantee Fund.


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