In the operating year of 2009/2010 we increased the turnover to SEK 110.5 million, which is an increase of just over 32 per cent compared with the previous operating year. The increase mainly comes from new customers and additional deals with existing customers. It demonstrates considerable confidence in our product Inca and the services we provide.
In spring 2010 AMF and Itello signed an agreement concerning Inca and services for implementation, support and operational management. We have also encountered an increased interest from challengers to the established players on the Swedish pensions market in our system Inca and our services. Through a migration project we now have a customer with over a million agreements in Inca within collective agreement occupational, private and supplementary occupational pensions with management in traditional insurance, index-linked insurance and deposit insurance.
The successes have resulted in our recruiting staff to meet our customers’ increased need of qualified operational support. Itello now has about 90 or so employees within the pensions, insurance and index- linked areas.
We have continued to invest in the development of our product Inca, and see an increasingly greater need from banks and pension companies for having an overall perspective of advising customers concerning pension and security products. In the campaign for customers the offering must be adapted to the customer over time. It is not just funds and fund managers who are replaced but also insurance products and insurers.