Tuesday, January 24, 2012

In October 2011, the comprehensive reinsurance information system UNIUS REINSURANCE, implemented by GRATEX International for ALLIANZ-TIRIAC Asigurari, was officially completed and became functional. The new system is managing all activities of the insurance company, related to reinsurance processes. This was the general context encountered by GRATEX International when the company made its entrance on the Romanian market.

In times after global financial crisis and in the midst of global economic uncertainty in the Europe it is more than ever important to increase stability and competitiveness of any insurance company.

The economic crisis brought a multitude of changes in the Romanian insurance market, including the disappearance of smaller insurance companies and the tightening of the rules imposed by the national regulatory authority for this sector. In the effort to address these challenges and to gain competitive edge, a lot of insurance companies have had to react in a quick and efficient way, and seek for various solutions to streamline their operations.
Before the introduction of the new information system, ALLIANZ-TIRIAC Asigurari needed to meet the new compliance standards of the national regulator, which significantly tightened the risk management requirements for Romanian insurance companies in order to ensure the safety and stability of the insurance market.
In October 2011, the comprehensive reinsurance information system UNIUS REINSURANCE, implemented by GRATEX International for ALLIANZ-TIRIAC Asigurari, was officially completed and became functional. The new system is managing all activities of the insurance company, related to reinsurance processes. This was the general context encountered by GRATEX International when the company made its entrance on the Romanian market.
ALLIANZ-TIRIAC Asigurari chose the GRATEX International's system as a certified and reliable system, which had been successfully functional / operating in ALLIANZ Slovenska poistovna, Slovak Republic, for several years. At the same time, the implementation of the system is a pilot international reinsurance project in ALLIANZ Group and will be followed by the implementation of the system in other countries. By implementation of UNIUS REINSURANCE system, ALLIANZ-TIRIAC has met the last prescribed requirements of the national regulator - for instance the obligation to provide a lot more detailed reports than in the past. By implementation of the information system, the reinsurance of ALLIANZ TIRIAC has become completely compliant with the internal standards of Allianz Group, related to client-oriented approach (TOM - Target Operating Model), what significantly accelerates all reinsurance processes. Simultaneously, ALLIANZ-TIRIAC with the new system meets the criteria demanded by the European regulatory directive Solvency II.
"We have developed our Reinsurance system in close partnership with our customers, what has resulted in the solution that provides our customers with all functionality they need and it also makes them ready to meet all regulatory requirements", said Stefan DOBAK, CEO of GRATEX International.
Due to processing of data at the lowest possible level, the new reinsurance system also enables ALLIANZ-TIRIAC to generate any analytical output, which is reflected in a significant increase in quality of risk management and capital adequacy of the insurance company, thereby raising the reinsurance efficiency and the insurance company's cost optimization.
Those attending FIAR 2012 will have the opportunity to find out more about GRATEX's specialized solutions and its collaboration with ALLIANZ-TIRIAC Asigurari, since the company is one of this year edition's Partners and its representatives will be attending the event in Sinaia between May 20th and 24th.
GRATEX INTERNATIONAL is a regional leader in developing enterprise software. Primarily focused on the insurance industry, the company also provides solutions for the banking and telecommunication industries. In addition to its sophisticated portfolio of software solutions, the company offers a range of professional and consulting services to ensure the successful implementation, deployment and operation of the technology within the client's business environment.
GRATEX's team is comprised of more than 400 highly qualified staff, two thirds of whom participate directly in research and development. GRATEX INTERNATIONAL is based in Central Europe (Bratislava, Slovakia), with local offices in Sydney, Australia and a registered branch office in Seoul, South Korea. The company's total revenue for the year 2011 is 35 million EUR. GRATEX INTERNATIONAL is certified for ISO 9001:2008, ISO 27001:2005, ISO 14001:2004 and OHSAS 18001:2007, all implemented into an Integrated Management System

 
Let Us Help

CALL US:

1800 111 110

Head Office:

Gratex International, a.s.
GBC IV, Galvaniho 17/C
82104 Bratislava
Slovak Republic

Australia and Asia Pacific Office:

Lakes Business Park
Level 1, 2A Lord Street
Botany, NSW 2019
Australia

Tel: (02) 8335 1100
Fax: (02) 8335 1190

http://www.gratexinsurance.com/products/upm2-agency-suite