The Sava ReInsurance Group is a regional insurance group oriented mainly to the markets of Central and South Eastern Europe (ex Yu: Slovenia, Croatia, Serbia, Kosovo and Macedonia). It consists of 11 insurers and annually generates over 250 million € insurance premium. The group and its associated companies offer reinsurance and all types of life and non-life insurance.
The SavaRe Group originated primarily based upon Pozavarovalnica Sava’s acquisitions within the insurance sector. The problem that they were confronted with was the heterogeneity of solutions within the Group on one side and the non-uniformity of information systems within individual insurance companies on the other.
SavaRe sought out a modern and comprehensive insurance solution that would:
Creating compatible solutions within subsidiary companies yields a whole range of advantages at the level of a business group. For Pozavarovalnica Sava, such a system of consolidated data enables a better overview of the operations of its subsidiaries on one side and the possibility of central management and development of insurance products on the other.
In addition, a uniform approach enables greater responsiveness and flexibility during the further development of products and reduces costs related to maintenance of the information system, since such a method lowers the potential for error and information support makes it possible for all processes and all types of insurance to be managed centrally.
Finally, consistent and consolidated data provide Pozavarovalnica Sava with a good foundation for actuarial and other analyses and for more appropriate and faster decision-making, thereby increasing business profitability and reducing operative and other risks.
For Zavarovalnica Tilia, SavaRe’s subsidiary in Slovenia, Adacta modernised the existing information system, and in the area of property and other non-life insurance, it implemented the AdInsure solution, which provided uniform support for all processes within the insurance company including sales, insurance policy conclusion and processing, premium bookkeeping, indemnities, reinsurance and provisioning.
After the successful implementation of AdInsure at Zavarovalnica Tilia, SavaRe decided to introduce Adacta’s LIFEBox solution within all of its subsidiaries in the region for support of life insurance. Since 2008, Sava has thus been using the Adacta solution for business operations at Sava životno osiguranje in Serbia and Illyria Life in Kosovo, and in 2010, Tilia
upgraded its system to support life insurance.
Adacta Group is a strategic partner of the Sava Re group and AdInsure is chosen as a corporate solution and for all life insurance companies in the group. To date Adacta has completed 4 project within the group.
"AdInsure, Adacta Fintech’s solution for the insurance industry, is a powerful insurance platform. Designed...