Obsolete IT systems are increasingly paralyzing the operations of insurance companies in Germany impacting their innovation potential and competitive position. Until now, however, many companies shied away from migrating to modern platform solutions because they seem too costly and the process too time-consuming. The question is whether is this argument still relevant?
Zoran Slanic, CEO of Adacta Fintech refuses to accept it: “Good solutions do not have to be expensive.” The Slovenian IT company has specialized in the financial services industry for 30 years and will enter the German market in September, bringing along the experience gathered from projects delivered in ten countries across Central and Eastern Europe.
The advantage for German insurers is obvious: Adacta's software solutions are mature, proven in international environments, future-fit and - thanks to the significantly more favorable labour costs when compared to Silicon Valley - its enterprise solutions are accessible even to smaller insurers who can benefit directly from Adacta's location.
Under the AdInsure brand, Adacta offers a single software platform for Life and P&C insurance providers. This web-based application boasts an intuitive user interface. Additionally, insurance companies can migrate their legacy products as well as create completely new insurance concepts. Adacta also offers CRM (Customer Relationship Management) solutions that clients need in order to thrive in the digital age. “We want to take away the fear of digital transformation for smaller and medium-sized insurance companies and help them achieve their goals quickly and successfully,” says Adacta CEO Zoran Slanic.
Adacta's recipe for success: as much international experience as possible combined with a fully local mindset!
Adacta is an international IT provider and a leading Microsoft Dynamics partner in the Adriatic region. Today, the two companies will be appearing together at the Microsoft Innovation Summit for Financial Services in Frankfurt am Main. Wherever possible, Adacta collaborates with local partners when performing on-site work, which includes implementation projects for AdInsure, its insurance software platform. The platform has been recognized positively by customers as underscored by the latest report from the renowned software research and advisory house Celent.
Adacta Fintech's insurance customers include well-known brands such as Axa, Generali, Wiener Städtische and, in Germany, Deutsche Verkehrs-Assekuranz-Vermittlungs-GmbH (DVA), the insurance broker of Deutsche Bahn. In addition to the simplified implementation and use, all clients value the fact that new products are much easier and faster to build with AdInsure than before by eliminating any IT department's capacity bottlenecks.
Conclusion: All of Adacta's successfully completed projects have been developed for large insurance companies with revenues exceeding one billion EUR. Thanks to the special location advantage, the solutions remain affordable for medium-sized insurers as well.
Adacta's track record is more than a solid foundation for the coming expansion into Germany, one of the largest European insurance markets. The approximately 500 employees are looking forward to it and Zoran Slanic is also excited about finding an industry-renowned contact for the German insurance market in Alex Narings.
About Adacta Fintech
Adacta Fintech is a leading provider of core systems to the financial services industry with more than a decade of experience in the insurance industry. The company is headquartered in Ljubljana, Slovenia. The group has extensive international experience; it operates in nine countries across Central and Eastern Europe. The company founded in 1989 today employs 500 people. AdInsure is a single insurance software platform for property-casualty and life insurance.