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Itello increases its investments in Norway and acquires Eikos AS

Itello AB, a leading insurtech company in the Nordic region developing business systems and digital solutions for the life insurance and pensions industry, is acquiring Eikos AS, which provides services and systems solutions for the life insurance and pensions sector in Norway.

Itello AB is acquiring Eikos AS as part of its international expansion. This will enable Itello to strengthen its position in the Norwegian market and, together with Eikos, offer comprehensive software solutions and strong deliverability on the Norwegian life insurance and pensions market. Eikos have strong expertise in actuarial services, consultancy services and systems solutions for the Norwegian insurance market, which ensures good access to professional resources in upcoming projects in Norway. As part of Itello's expansion, the Inca standard software will be adapted to meet Norwegian requirements and needs, and become Itello's prime solution for the Norwegian market.

The acquisition is in line with our strategy and will accelerate our international expansion. The life insurance and pensions industry in Norway will be facing a number of challenges in the coming years, which means there is a high demand for the ability to combine a highly efficient business with good innovation potential. With Eikos' expertise we will be strengthening our competitiveness on the Norwegian market and expanding Itello's opportunities. 

Mats Lillienberg,
CEO, Itello AB 

- The acquisition of Eikos will give Itello access to expertise within actuarial skills, administration and systems development for life insurance and pensions in Norway. Eikos provides services and systems solutions to the life insurance and pensions sector in Norway and, in combination with Itello's solutions and expertise, we will be strengthening our capacity and competitiveness considerably. Eikos will be part of a large and expanding environment that provides new opportunities and exciting challenges for our employees,' says Øyvind Grini, CEO of Eikos AS.

ABOUT ITELLO AB

Itello AB is a Scandinavian insurtech company and the market leader in the supply of business systems and digitalisation solutions for all actors within the life insurance and pensions industry in the Nordic region. Itello supplies products and solutions for the purpose of automating and digitalising business processes, and facilitating innovative business development for all our customers. For further information, visit www.itello.com.

ABOUT EIKOS AS

Eikos AS is an actuarial consultancy firm providing systems and services to pension funds and suppliers within the financial industry. Eikos' customers are domestic and foreign insurance companies, fund managers, insurance brokers, corporations, law firms and auditing companies. For further information, visit www.eikos.no.

 

For further information, contact:

Mats Lillienberg, CEO, Itello AB, mats.lillienberg@itello.se, +46 70 848 8187

Øyvind Grini, CEO, Eikos AS, oyvind.grini@eikos.no, +47 901 16 630


Launch of the Nordic Insurtech Report
As a result of Stockholm Fintech Week the Nordic Insurtech Report is released today. Co-authored by Itelos Head of digital solutions, Henrik Allert.
  • August 20, 2019