Fora - the first pension fund player with its core system in the cloud
In the fall of 2018 Fora chose Itello's business system Inca as the new IT support for their operations and is now also choosing Itello Live as a delivery model. Fora sought an efficient and secure managed application solution for Inca that would make everyday operations smoother and easier. Ultimately, they chose Itello Live from Itello.
We are very proud to have earned additional trust from Fora. The contract strengthens our strategic partnership and confirms the competitive strength of Itello Live. By moving their business-critical IT system to the cloud, Fora is really at the leading edge of technical and digital development in the sector.
CEO, Itello AB
By offering an alternative to the sector's traditional reliance on bespoke systems, Itello's technology has changed the Nordic field for business systems for life insurance and pension funds. With Itello Live, Itello has taken another step to offer the sector's players a holistic solution for a modern and future-proof IT platform.
The cloud makes it possible for Itello to do what Itello does best: provide the market's leading business systems for life insurance and pension providers. In partnership with Microsoft, Itello combines the market's leading PAS (Policy Administration System) with the leading cloud services for finance, banking and insurance, Microsoft Azure.
"The digital transformation currently in progress is changing the conditions for our customers' business operations. Efficient application operation is essential for meeting the market's increasingly challenging demands – which is why an increasing number of pension providers are turning to cloud-based SaaS services. Our leading position as a provider for Nordic pension providers has given us a deep understanding of the sector's future needs and how they balance against the regulated reality. We are pleased for the opportunity to expand our support of Fora's work as a foundation for a secure working life," says Salifou Bah, head of the SaaS business area at Itello.
The contract includes a proof-of-concept of the services that will go live in production in 2020 when successful.
Fora is a selection center for SAF-LO Collective Pension Insurance. Each year, Fora pays roughly SEK 19 billion in premiums and fees from 235,000 companies to 40-odd pension managers, insurance companies, foundations and funds. Fora is jointly owned by the Confederation of Swedish Enterprise (Svenskt Näringsliv) and the Swedish Trade Union Federation (LO), and operates on a non-profit basis
For more information, visit: www.fora.se
Itello AB is an insurtech company and the market's leading provider of business systems and digitalization solutions for the pension and life insurance industry in Scandinavia. Itello offers products and solutions for automation and digitalization of operational processes and enables innovative business development for all of their customers.
For more information, visit: www.itello.com
For more information, contact:
Annelie Sjöström, Fora Press Officer, + 46 73 856 67 50, email@example.com
Salifou Bah, head of the SaaS business area at Itello SaaS, +46 70 295 22 64, firstname.lastname@example.org