This is our second ITSS-ClavisAsset system migration reference project in the Hungarian insurance sector. After Generali Alapkezelő, Signal Biztosító has also decided to use a Clavis product.
Signal Biztosító Zrt., founded in 1993, is the subsidiary of the SIGNAL IDUNA Group, which belongs to one of Germany’s leading financial concerns, the TOP 10 insurance company. The insurance portfolio asset management system was carried out previously in an ITSS system, so they contracted with Dorsum Ltd. in September 2010 to change that system.
DORSUM SOLUTION: CLAVISASSET ASSET MANAGEMENT PRODUCT
- Full support of Backoffice processes (basic data registration, account management, settlements, asset valuation, limit calculation, reporting, mandatory reporting)
- Securities and cash fund separation per insurance company provision
- UCB currency, importing data from the Hungarian capital market site and currencies of the Government Debt Management Agency, and market data
- Risk Management Module (VAR calculation of portfolios, stress tests)
- Automatic accounting and dispatch into the SAP system by Hungarian, international (IFRS) and German regulations
- Dorsum experts easily matched the insurance workflow with the system’s functionality was due to their earlier experiences gained in other insurance and asset management projects, thus making the deployment process simple and fast.
- Compared to the previous administrative system, the new and automated functions of ClavisAsset help increase the efficiency of asset management and the achieved results can be demonstrated with the use of yield calculation