More than 10 years ago, adesso insurance solutions, as a subsidiary of adesso, launched a holistic software solution for managing life insurance policy contracts. A lot has happened since then, especially in the market for life insurance products – and not just as a result of continuously developing software to meet customer requirements.
Thanks to an attractive guaranteed interest rate, life insurance was the most popular private pension scheme in Germany for decades. Due to the continuing low-interest phase on the capital market and rising distribution costs for insurers, new contracts appear far less profitable these days than, for example, investing in real estate. Additional challenges facing providers include the change in demographics as well as the increase in regulatory requirements, such as the guidelines resulting from ESG criteria. In order to continue attracting new customers to their portfolios, life insurance providers have to cut costs.