13 life Swedish life insurance companies participated in the procurement of the new five-year agreement within the ITP agreement – today we found out which ten companies were selected.
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AMFs mission is to deliver good and cost efficient pensions for over 4 million customers. The payments are a security for many people and it is a necessity that they work properly and are easy to understand. AMF can do this thanks’ to Itello’s well-managed solution for outgoing payments.
Consolidation of insurance policies is another way to decrease the fees for the customers. As an example-, 2 million SAF-LO (one of the largest collectively negotiated pension plans in Sweden) members could lower their fees by 300 million SEK- per year! In this respect, both AMF and Itello have proven to be forerunners in the industry. An exceptionally low cost structure requires a high level of digitalization and integration to the parties in the industry to reach the full potential of the digitalization. Regardless if the customer chooses a traditional or a unit-linked life insurance plan.
Swedish occupational pension procurement of ITP completed
AMF winner of the Trophy of the year 2016
AMF winner of the Trophy of the year 2016AMF’s groundbreaking and focused project to merge and migrate 5,000,000 insurance policies and halved costs for policyholders won the prestigious award of Itello’s Trophy of the Year.AMF – Jump to modern platformHow do you move five million pension insurance with a variety of different conditions? With the …
Swedish pension company AMF left the mainframe and lower fees by 300 million SEK a year
One of Sweden´s largest pension company AMF and Itello migrated over 5 million insurance policies in one of the largest insurance migration project in Europe. The project enabled AMF to leave an outdated mainframe environment in favor of a modern. The migration also reduced the number of administrated policies and reduced the cost for the policy holders.
...Trophy of the year
Itello highlights the customer projects we conduct together, creating more efficient administrative processes, lowering costs and raising quality.
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Jump to modern platform
How do you move five million pension insurance with a variety of different conditions? With the simplicity of an iPhone as a model, the company put together the individual customer's various insurance policies and gave them the latest and best conditions on the purchase. Then moved from the old mainframe system to a modern IT platform from Itello. Good planning, trust to the participants and genres enabled the fast-paced implementation. The result: clarity and halved fees for customers, and simpler administration of AMF.
Pension for All
AMF was looking to replace their system for the administration of insurance products. The goal was to offer their 4 million customers more flexible and cost efficient solutions for future procurements and affiliations to collectively negotiated pension solutions. By moving over to Itello’s Inca, AMF was able to offer the members of the collectively negotiated pension area for employers of the Swedish government; PA03, both unit-linked as well as traditionally managed insurance products, and the implementation was seamless to AMF customers. This success story was built on results oriented teamwork and a high degree of creativity. With the strong base that was created, AMF has been able to enter into all important procurements and affiliations in the area of collectively negotiated pensions.
