Folksam is the market leader in many areas which gives them economy of scale and total customer engagement. Therefore, the focus is, among other things, the individual pension plans and further strengthening their market position by using their own intermediaries via external channels. Itello delivers the IT-solutions that makes this possible.
Creating a distribution channel for Occupational pensions and defining an IT-strategy for the future
In a world of intensified competition, the ability to transform your business is crucial. Folksam has now increased competitiveness and the ability to make better business with a proven and flexible solution.
Improving the business is the starting point of all our efforts, Folksam is now prepared to tackle future challenges in the occupational pensions market with a proven and flexible solution enabling them to make better business
Folksam Life is one of Sweden’s largest insurance companies and successful in group life and occupational pension schemes distributed by election centrals. The challenge was to enable a competitive offer in a market segment they were lacking efficient administrative support – distribution of occupational pensions schemes. A market worth 55 billion SEK in written premium and opportunities in market for policy transfers of 18 billion SEK yearly
The project started in November 2012 after an intense and thorough procurement process. In just six months, Folksam was up and running with their new offering. The success has generated a big interest in other products areas and discussions are now ongoing regarding a wider scope for Inca and for Itello.