Product innovations in German life insurance
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Don’t just take our word for it. Here are a number of insurance companies big and small who have transformed their business models through the support of msg life insurance tech solutions. Their success stories demonstrate how we balance our turnkey technologies with individualized customization to create optimal pathways to future performance.
By introducing the innovative policy administration system msg.Life Factory, the Vienna Insurance Group (VIG) – the leading insurance group in Austria – has, as part of its Neo Life project, significantly driven the modernisation of its IT landscape forward.
In addition to policy issuing, document issuing, premium calculations, payment transactions, claims handling and commissions, which the Unified Administration Platform already covered in its standard form, the latest technical development resulted in the new functionality scope offering the creation of reports required by control bodies, banks and the entire range of finance controlling.
AXA Switzerland, a leading all-round Swiss insurer, has introduced the policy administration system msg.Life Factory as part of the comprehensive modernisation of its IT landscape. AXA Switzerland successfully went live with the solution in September 2019, a mere 20 months after starting the project.
HUK-COBURG Lebensversicherung is the first msg life customer to use the JEE-based policy administration system msg.Life Factory (LF JEE) with msg.LP (Life Product) and msg.LC (Life Contract) as its two central components.
In connection with its aim of thoroughly modernising its IT landscape, AXA Deutschland decided in late 2013 to use msg.Life Factory based on IBM PureSystems technology as the strategic administrative platform for its life division.
“The product data model offered by msg.Life Factory allows all traditionally calculated life insurance products and also investment-based ones to be mapped. Product developers can thus combine elements from different product classes freely with each other.“
