COR.FJA Life Factory chosen to ensure lasting consolidation of the DEVK life insurance platforms

(PresseBox) ( Leinfelden-Echterdingen, )
The Cologne-based insurance company DEVK Versicherungen (DEVK) has opted for the COR.FJA Life Factory policy management system as its central platform for the introduction of modern life insurance products and consolidation of its current IT platforms within the life insurance segment. The resulting volume of orders placed with COR&FJA is in the low eight-digit range. This represents a continuation of the trend that has been observed in recent years whereby life insurance companies are relying on COR&FJA's standard software solutions to an increasing extent.

The main factors that swung the decision in favour of COR.FJA Life Factory were the high degree of prefabrication in the standard software and the high level of migration know-how offered by COR&FJA. These advantages will provide DEVK with a means of not only launching the new generation of unisex products as early as the beginning of 2013, but also migrating the first tranche of contracts from one of the current platforms almost simultaneously in order to further optimise the management processes.

Apart from this, DEVK is also anticipating other economic effects in the medium and long term as a consequence of its participation in the annual COR.FJA Life Factory standard release development process, now supported jointly by ten customers, and its partial assumption of the DEVKspecific fields of development.

DEVK is therefore planning to install the new system in close cooperation with COR&FJA right from the very first stage while itself assuming overall responsibility. To this end, the two partners developed and defined an appropriate collaboration model within the framework of the previous preliminary study and will launch the project on this basis in the very near future.

Current plans provide for a period of less than four years for the implementation of the entire system installation project and the replacement of DEVK's three existing IT platforms.

About DEVK

Around 4 million customers throughout Germany put their trust in the DEVK Versicherungen for the insurance of 13.4 million risks in all segments of the insurance industry. One reason for the particularly firm loyalty demonstrated by these customers is the company's local presence: 1,200 branch offices, 2,270 full-time sales partners and some 4,000 part-time agents speak for themselves. Furthermore, the Sparda banks are cooperation and sales partners of many years' standing. In terms of contract numbers, DEVK is Germany's fourth-largest household insurer, fifthlargest motor vehicle insurer and sixth-largest third-party liability insurer.
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