Fortis Insurance Belgium has been created on the 1st of
July 2006 by the juridical merger of Fortis AG that distributed its products
via brokers, and FB Insurances that worked via the Fortis banking agencies and
the ‘Banque de la Poste’.
Both companies were already leader in their sector and the
merger has made of Fortis Insurance Belgium the biggest insurance company in
Belgium. One Belgian out of three is client at this new entity. »
The challenge
Fortis Insurance Belgium has over more than 40 billion
euros of « financial assets under management » (figures at end 2006).
The importance of this amount has forced Fortis Insurance
Belgium to diversify its investment strategy by expanding its range of
financial assets. Indeed, in order to meet the requirements of the market, the
financial instruments in which the assets are invested have become more
complex and varied.
It is for the same reason that Fortis Insurance Belgium
decided to integrate all the internal processes linked to these financial
assets within one single IT system. So Fortis
Insurance Belgium started looking for a new asset management tool, able to
manage new financial instruments such as swaps and structured products as well
as the back- and front office.
The solution :
ParaSol
In order to find the solution meeting all its needs, Fortis
Insurance Belgium had put forward the following criteria :
- • Flexibility of the software including in terms of evolution
- • Integration of both the back- and front-office management
- • High level of integrability and openness towards other systems
(mainly accounting and information providers)
- • Software editor willing to commit itself within the context of a
long term partnership
At the beginning of 2000, Fortis AG and FB Insurances had
already selected ParaSol as being the best solution meeting all their
requirements.
So when both companies merged in 2006, it was only natural
that
ParaSol
became the software for the management of the financial assets of Fortis
Insurance Belgium.
The result
The partnership with SCRUM has given complete satisfaction
to Fortis Insurance Belgium … who still contributes to the enrichment of the
range of financial instruments managed within
ParaSol
!