Notebook on a desk

Press Releases

Dortmund/Frankfurt |

New management platform for life insurers: adesso launches Afida for German life insurers’ runoff business

IT service provider adesso has announced the creation of a subsidiary, Afida GmbH. The newest member of the adesso SE family will offer insurers a cloud-based platform for the cost-effective and efficient management of life insurance runoff policies. Afida will provide end-to-end policy management for insurers with runoff portfolios.

Years of low interest rates are prompting more and more German life insurers to turn away from conventional products in their core business. High guaranteed rates for existing customers, rising administrative costs and the consolidation of new business across a handful of providers are proving to be a challenge to many companies. The trend is moving towards outsourcing traditional life insurance business to specialised policy managers.

Frankfurter Leben is the first major customer to sign up to the new adesso service, tasking Afida with an extensive, long-term migration and portfolio management project. Under the framework agreement, Afida will migrate around 500,000 life insurance runoff policies and new Frankfurter Leben portfolios to its platform and deliver the end-to-end technical infrastructure in the form of software as a service (SaaS). This modern solution is the cornerstone of Frankfurter Leben’s forward-thinking policy management business.

Platform to feature adesso’s in|sure Ecosphere products

The tried-and-tested, award-winning in|sure Ecosphere product family from the application ecosystem of adesso subsidiary adesso insurance solutions is the perfect accompaniment to migration and management processes, as Harald Narloch, Managing Director of Afida GmbH and long-time member of the adesso insurance solutions GmbH management team explains: “Our in|sure Ecosphere products, which are based on the in|sure PSLife portfolio management system, will form the backbone of our management platform and help migrate runoff policies to the new platform smoothly alongside a host of other adesso systems, including MIGSuite. This convenient full-service, end-to-end support is now available to insurers in software-as-a-service form and enables them to manage and process their life insurance runoff policies at a transparent price point.”

Harald Narloch is Managing Director of AFIDA GmbH and member of the management board of adesso insurance solutions GmbH.  (Copyright: adesso insurance solutions)

Harald Narloch is Managing Director of Afida GmbH and member of the management board of adesso insurance solutions GmbH. (Copyright: adesso insurance solutions)

Trust in adesso’s insurance expertise

For Michael Kenfenheuer, CEO of adesso and responsible for the subsidiaries AFIDA and adesso insurance solutions, the service is the perfect response to the high level of demand in the insurance industry at the moment: “It is clear from our customers that more and more insurers are focusing on their core business and looking for professional and low-cost outsourcing solutions for their life insurance units, which hold some 90 million policies in Germany. Afida is our service for the market, allowing providers to leverage consolidation effects while leaving their life insurance portfolios in good hands.” Kenfenheuer also highlighted the special significance of Afida’s first major customer: “Not only is the long-term contract with Frankfurter Leben a significant display of trust in our company’s insurance expertise, it is also the largest single contract for one customer in adesso’s 25-year history.”

Michael Kenfenheuer, CEO of adesso and responsible for the subsidiaries Afida and adesso insurance solutions:

Michael Kenfenheuer, CEO of adesso and responsible for the subsidiaries Afida and adesso insurance solutions: "The long-term mandate of Frankfurter Leben is an enormous sign of confidence in the insurance expertise of our company." (Copyright: adesso)

Further information on the new Afida product portfolio can be found as part of the in|sure Ecosphere offering of adesso insurance solutions GmbH, a highly automated, evolutionary standard software solution for efficient insurance policy management developed by adesso: https://www.adesso-insure.de/.

The Afida GmbH website will soon go live.


Press service

Materials for media reports

With our press service, we provide you with various materials that complement our corporate news or serve as background information.

To the press service


Do you have any questions?

Do you have any questions about our press service or a specific request? Please contact us.

Contact

Save this page. Remove this page.