CROSIG, THE LARGEST INSURANCE FIRM IN CROATIA, IS NOW LIVE WITH THE DEPLOYMENT OF SIMCORP DIMENSION

Croatia osiguranje is a market and digital leader, the largest and the oldest insurance company in Croatia. It provides life and non-life insurance products and services and operates a network of subsidiaries in the region. Croatia osiguranje has been a part of Adris Group since 2014. 

The business case

To scale for growth, Crosig osiguranje was looking for a solution that would let them consolidate and simplify its IT throughout its front, middle and back-office operations. The company required a flexible and integrated solution that would not only simplify future onboarding of additionally acquired companies but also support its key business imperative to diversify investments, extend the covered currencies as well as its hedging capabilities.

The solution

After a rigorous selection process, the SimCorp Platform stood out as the solution that best addressed Crosig’s requirements to have an integrated front-to-back solution with broad instrument coverage. Knowing that Simcorp has a significant track-record in the asset owner segment supported Crosig’s decision to choose SimCorp as its partner.

SimCorp provided a fully integrated approach to the investment workflow, enabling timely view and decision support. It has also provided the firm with a tailored solution that supports its main growth and expansion strategy and also includes integrated reporting solutions across all assets.

Additionally, both Crosig and SimCorp believe in the value of a long-term partnership, far beyond a regular vendor/client relationship. SimCorp’s expertise with peers in Central and Eastern Europe combined with excellent references supported the decision, which proved to be the right one with a market leading time to market on the implementation. The entire front to back implementation took only 10 months and was done almost completely remotely. In December 2021, Crosig went live with SimCorp’s Application Management Service (AMS) and embedded Customer Care.

It is important to note that one of the most important factors for successful and quick implementation was continuous, open, and trustful communication with the client underpinned by close alignment of the entire project team from transition to production. 

The business value

As a result of the roll out, numerous manually created excel sheets in front and middle office and SAP TRM as subledger system were replaced. The SimCorp Platform also replaced historically grown architecture of multiple systems within a single platform. Meanwhile Crosig is using the system across the entire company and the SimCorp Platform is now its single source of truth. 

About SimCorp

SimCorp offers industry-leading, integrated investment management solutions. Our platform and ecosystem, comprising partners, services, and third-party connectivity, empowers us to provide 40% of the world's top 100 financial companies with the efficiency and flexibility needed to succeed.

With over 25 offices around the world, and 2,000 employees, we are a truly global, collaborative team that connects every continent and industry seamlessly.