Vienna-based insurance group, UNIQA Versicherungen AG, has chosen SimCorp Dimension to manage its assets. UNIQA will use the system as a front-to-back solution throughout Europe thereby streamlining its IT infrastructure. SimCorp Dimension will replace a number of different legacy systems within the group.
External consultants were used in the evaluation process. The selection of SimCorp Dimension was primarily based on the system's fully integrated straight through processing ability together with its risk management and international accounting (IFRS/IAS) capabilities. Another significant factor was the number of other major insurance companies across Europe that use SimCorp Dimension. These include Skandia, ING Investment Management, Fortis ASR and HDI Asset Management GmbH.
"It is particularly important to us that we are now able to manage the different regional requirements, from accounting to reporting, in a single system," explains Dr. Gottfried Wanitschek, director of UNIQA insurance. "Furthermore, with SimCorp Dimension, we have chosen a well proven solution, which is already used by several insurance companies across Europe."