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01/29/10 - Data quality, an important challenge for the Risk Manager

    Thanks to his 20 years of experience in RMIS (Risk Management Information System) implementations all over the world and with every size of companies, Pascal Stopnicki (EFFISOFT CEO) explains why data quality is a main issue for Risk Managers and how rigor, methods and new technology can transform this into an asset.

    The article explains how data quality takes part in business intelligence, even if most of the companies aren't equiped in this matter. For example, Risk Managers must deal with lots of data (i.e. risks, prevention, premiums, events, contacts…) that must be clean and centralised in single database.

    Then Pascal Stopnicki describes methods that can help Risk Managers achieving high level of quality (access rights, questionnaries, ETL and EAI technologies, CMS technologies...).

    With a cleaned database, Risk Managers can finally produce analyzes (simulation, premium allocation, calculation of the cost of each loss, loss ratio monitoring, etc)... but they must not forget to update information as frequently as possible: data are interesting and relevant because of their meaning for the Risk Manager, not only because they are clean!

    As T.H. Davenport, author specializing in business process innovation, wrote that useful information depends on people, not equipment... which means that we still need the Risk Manager (and not only a good tool). Fortunately!



    Source: STRATEGIC RISK - AMRAE Daily n°2

07/20/09 - Effisoft provide training for AIRMIC members

    In London on 20th July 2009 Effisoft partnered with international law firm Barlow Lyde & Gilbert LLP to present an informative training session on “Information Management - The Latest Boardroom Headache”.

    Effisoft are supporting the newly established AIRMIC Academy, which is a significant initiative in collaboration with AIRMIC’s Partners and Preferred Service Providers to provide member training from specialists on key issues as identified by the AIRMIC members.



    Source: EFFISOFT

06/22/09 - Effisoft exhibit at the AIRMIC Conference 2009



     

    With Effisoft being AIRMIC’s Preferred Service Provider for Risk Management Software, Effisoft was delighted to exhibit at the AIRMIC annual conference in Bournemouth, England on 16th and 17th June 2009.

    The event was extremely well attended by more than 500 risk and insurance professionals many of whom used the opportunity to meet with Effisoft at their stand in the exhibition hall (...).  



    Source: EFFISOFT

06/03/09 - Effisoft will be present at the annual AIRMIC conference in Bournemouth

    Effisoft is delighted to be one of the 54 companies participating of this 2009 AIMIC (Association of Insurance and Risk Managers) annual Conference.

    This event will take place on June 16th and 17th 2009 at the International Centre in Bournemouth.

    The objective of such gathering is to stimulate Risk and Insurance Managers and to make easier the innovation and the information exchange on the risk and insurance industry.

    According to Julia Graham (AIRMIC Chairman) and John Hurrell (AIRMIC Chief Executive), “This is a unique event in the risk and insurance calendar which brings together the leading professionals in the industry. […] The theme this year is to ‘Promote the Risk Manager’ recognising the critical role risk managers play in helping to minimise the impact of surprises in the current business environment, where most surprises are negative, sometimes catastrophic. […] Leading speakers from both industry and academia are going to address some key issues for the delegates.”

    Effisoft’s London subsidiary will participate to debates on the Risk Management and present to AIRMIC members the evolution of its software products.

    (follow the link below to see the Conference Brochure)
    http://www.AIRMIC/ConferenceBrochure2009.pdf



    Source: Effisoft

11/03/08 - Effisoft extends its WebXL functionality for individual Life reinsurance

    Effisoft launches its new WebXL version (a reinsurance software package for cedants, reinsurers, and brokers) including enriched functionality for the individual Life reinsurance field.

    Already highly present in the fields of casualty and collective life, Effisoft has further completed its WebXL application to satisfy the demands of all the actors of the insurance market. Therefore Effisoft announces today the release of its new version of WebXL, whose major enhancement is a better coverage of individual life reinsurance.
     
    For example, the new WebXL version enables the coverage of:
     
    • The identification of the insured key characteristics through policies subjected to reinsurance. 
      This can refer to the birth date, the "smoker" or "non smoker" status, the insured profession and its class of risk, all defined by the insurer.
    • The management of surplus contracts, integrating the calculation of risk premiums and commercial premiums (the reinsurance premium is calculated on the capital basis of risks, reinsured from an interest table negotiated with the reinsurer).
    • The identification and consideration of a timely franchise for loss transfers.
    • The modification of the commission process (an important commission is paid by the reinsurer to the cedant during the first years in order to help bear the initial production cost). 
    • Excess of loss management per head.
     
    Individual Life reinsurance functions on very long term commitments. In this sense, it’s a natural extension of the Life insurance.(...)


    Source: Effisoft

09/01/08 - EFFISOFT seeks partners to accelerate its international growth

    Effisoft, the software solution provider to insurance professionals, is seeking international partners to maximise new opportunities for growth. This announcement represents a fundamental change in strategy which until now was based on a direct marketing model.

    (...) Effisoft will select partners that demonstrate an expertise in the insurance and risk management sector coupled with an international coverage. The company currently holds an established position in France and also benefits from various international agencies and a substantial customer base in the UK and USA.

    To guarantee the success of these partnerships, Effisoft will provide its partners with comprehensive training on all technical aspects and key selling points, a bespoke marketing program and pre-sales support.   

    By partnering with Effisoft, future partners will be able to develop their market share with insurance and risk management professionals by proposing applications dedicated to their specific needs.  Equally Effisoft will increase its distribution demographic and expand its sales network, achieving strategic projects with major organisations within the risk and insurance sector.(...)



    Source: Effisoft Group

06/16/08 - Risk Management Seminar - London - 01/07/2008

    Effisoft organises a seminar to present how major companies are using Risk Management Information Systems to gain benefit.

    Based on the ‘live’ experience of a selection of Effisoft's clients, this event will demonstrate how risk managers have adapted WebRisk to achieve tangible improvements across their risk management and insurance operations.

    The event will be held close to the Monument tube in the City of London on Tuesday, 1st of July, from 10.00am to 12.00pm. It will be followed by a buffet.
    For more information or to attend this workshop, please contact either David Thomas dthomas@effisoft-group.com or Julian Kirkman-Page jkirkman-page@effisoft-group.com.

    (attached are the minutes of this event)



    Source: Effisoft

05/19/08 - Effisoft integrates for the 4th year in a row the Truffle 100’s ranking

    Effisoft, a French software publishers for professionals of insurance, reinsurance and risk management confirm its positioning of reference on the market by taking the 75th place of the charts « Truffle 100 » of the top 100 French software publishers.

    Effisoft, a French software publishers for professionals of insurance, reinsurance and risk
    management confirm its positioning of reference on the market by taking the 75th place of the charts « Truffle 100 » of the top 100 French software publishers. This ranking reaffirms the growth of its activity, its innovation capacity within an ultra competitive industry.
     
    Truffle 100 was created by Private Equity Truffle Venture company, the market research firm CXP, and Mar-Tech&Finance with the aim of better comprehend the national industry of software publishing, to analyze its vitality, its creation of value and employment, plus its innovation capacity. The Truffle 100 is an indicator of reference in the domain of software edition and has a yearly publication.

     In this context, Effisoft is once more rewarded for its financial and human growth, and for its strategy that contributes to rise progressively to the top leaders of its market, while managing its growth. We can notice that Effisoft realize an external growth with Dataproxima, which contributes to improve its competitive advantage and position on new markets.

    (...)



    Source: Le Figaro

05/16/08 - Taitbout group leans on Valdys to automate its internal control

    Taitbout group is an administrator of pensions, both savings and health. The group administers around 861,059 contributors and more than 5,598 companies’ pensions. The Group Taitbout manages the complementary pension of 1,536,320 employees and pensioners. To address its regulatory requirements towards the Control authority of insurance and mutual funds (ACAM) and the Solvency II reforms, the group equipped itself with Effisoft’s solution, Valdys

    (...)

    In order to conform to the recent requirements of the ACAM (permanent internal controls, risk mapping, etc…) as well as anticipate the regulatory requirements to come (Solvency II), Taitbout group decided to rethink its risk policy, and to formalize the operational process. The objective is to optimize the group’s internal controls mechanism. 

    As a strategic initiative driven both by the internal control requirements as well as the overall operations, this project leans heavily on a software dedicated to this challenge and able to support a tailored configuration. In fact, beyond the software integration to Information System a great deal of work has been done to better define and integrate the risks and their interdependencies between different branches and functional management of the group.

     
    Valdys solution is then selected for its structuring approach and adapted to Taitbout group expectative.
    Its competitive financial positioning and its intuitive and very operational approach represented very determining elements of selection.
     
    By undertaking such a project, the goal was to raise awareness to the partners, and involve them in the setting up of an efficient risk control policy. They will be able to optimize their performance by limiting risk associated to their areas of responsibility. More than that, Valdys enables them to access to predefined alerts and to quickly take corrective measures. (


    Source: CFO News

04/17/08 - Effisoft sponsors the 2008 Strategic RISK European Awards

    Each year, Strategic RISK magazine organises an awards ceremony for European risk management professionals (European Risk Manager; European Risk Management Team; Best Loss Control Strategy; Most Effective Use Of Technology; Risk Management Product …).

     

    On Thursday 17th April, risk managers, insurers, brokers and risk management product and service providers gathered at the Westin in Paris for the fifth Strategic RISK Awards.

    As a leading provider to the Risk Management industry, Effisoft is delighted to participate in such an event. That is why, during this evening, Effisoft presented the award to the European Business Insurer of the Year.

    For more information about this event see the presentation enclosed.



    Source: Effisoft

01/15/08 - Effisoft announces the acquisition of Data Proxima

    Effisoft, a software provider to risk and insurance professionals, is pleased to announce the acquisition of Data Proxima, a specialist in risk management and Internal Control.

     
    Data Proxima has developed its expertise through technical collaborations with major corporations such as AREVA, CEA (ATOMIC ENERGY AUTHORITY), AIRBUS and FNRC.
    This has allowed them to maximise the effectiveness of their software platform VALDYS and gain valuable experience in risk management. The methodological knowledge that is implemented by Data Proxima consultants was then widened to subjects such as continuity planning for bird flu, the implementation of Internal Controls in regulated domains (SOLVENCY II), Corporate Risks and Risks associated with Information Systems.
     
    "This collaboration can only be beneficial for our group” declared Pascal Stopnicki, Effisoft President. "Indeed, it allows us henceforth to provide all the necessary components for the field of risk management. VALDYS software completes the solutions range provided by Effisoft in the risk management and insurance sector for several years."
     
    No doubt that this collaboration will benefit the existing clients and users as well as future associates.  As such, Eric Page, General Manager of Data Proxima, shows his enthusiasm:
     
     “We bring to Effisoft our skills in the field of consultancy. Our teams have had many opportunities to participate on challenging projects. This experience is going to enrich Effisoft’s offerings and will benefit it's customers even more when implementing it's software. Mutually, with more than fifteen years of success, the knowledge of Effisoft in providing information systems will widely benefit the current customers of Data Proxima and any future developments of VALDYS”.
     


    Source: Le CXP

06/11/07 - Effisoft Ltd participates at the annual AIRMIC conference in London

    Effisoft participates at AIRMIC annual conference (Association of Insurance and Risk Managers) which took place on June 5th and 6th 2007 in London.

     

    As one of the major player in the market of the Risk Management Information System (RMIS), Effisoft was keen to participate at AIRMIC annual conference (Association of Insurance and Risk Managers) which took place on June 5th and 6th 2007 in London.

    The objective of such gathering is to stimulate risk managers to make easier the innovation and the information exchange.

    The main idea is to define the best management practices and find the most efficient tools to master the risk and cost.

    Effisoft Ltd, the London subsidiary of the group took advantage of this event to strengthen  professional relationships, participate to debates on the Risk Management and competitive advantages, and present to AIRMIC members its software products WebRisk and RiskDirector.

    (...)



    Source: Effisoft

04/05/07 - Pascal Stopnicki, president of the Effisoft group, expresses himself on the evolution of the Risk Management: From insurance management to risk management.

    Risk Management is an activity which consists of measuring and evaluating risk and then developing diverse strategies intended to keep the risk under control. These strategies will include risk transfer and risk reduction through avoidance or prevention, both aimed at reducing the harmful effects and accepting tolerable consequences of the risk.

    Nowadays, Risk Managers are confronted with dual challenges: risk management and insurance management. Theoretically, insurance is one means of controlling risk. However, in practice, one observes companies often manage these two issues separately. And yet, risk management and insurance management are two concepts undeniably complementary to securing the company’s permanent stability.

    From the moment their inseparability is recognized, the risk manager is faced with managing a complex and important data flow: That related to the risk management activities of risk mapping, loss prevention, controls, and data analyses as well as that related to the insurance management activities of insurance purchase, premium calculations and their allocation, the tracking of payments and managing losses.

    In this context, the control of the information is essential for good management of the risk and insurance of a company. The globalization and the proliferation of large industrial groups particularly exposed to risk find the collection and consolidation of diverse data disseminated between many international subsidiaries even more complex and difficult to manage. The collection, management and diffusion of the information often demands the set up of specific software tools to support the process.


    Source: Journal du Net

03/12/07 - Effisoft announces the opening of about fifteen job positions on its international subsidiaries

    Effisoft is an international group providing software for professionals of insurance, reinsurance and risk management for 15 years they announce the opening of fifteen posts for the next months to thicken their international staff.

    (...)

    Created in 1990, Effisoft has always positioned innovation at the core of its strategy.
    This constant pursuit of excellence allow them to differentiate to their competitors, and to quickly stand out as leaning actor allying proven infrastructure technology, respect of international obligatory report, and integration of problematic profession of insurance and risk management.
     
    Appreciated by its customers for its advanced approach, Effisoft will enable to its new recruit to fulfill themselves in an enhancing international realm and access strategic project for the account of foreground groups.
     
    Pascal STOPNICKI, Effisoft General Manager specifies that “Effisoft offers thrilling opportunities for the employees who want to invest themselves in strategic projects for companies, for example in the domain of Risk Management. […] Today we’re experiencing an important growth of our international activities.
    In this context, the integration of engineers is more than a priority. We also want to reinforce our Project manager teams and redimension our commercial force welcoming new talents justifying of a solid experience in solutions sale with high added-value”.(...)


    Source: Indice RH

12/01/06 - Willis Gras Savoye Ré utilizes Effisoft's solution WebXL

    Effisoft, the provider of solutions dedicated to insurance and reinsurance professionals, supports Willis Gras Savoye Ré in its reinsurance management operations

    Willis Gras Savoye Ré is a subsidiary of the broker Gras Savoye, specialized in reinsurance and partner in the international Willis group. Willis Gras Savoye Ré covers around thirty specialities branches of insurance (property damage, automobile liability, professional liability, construction, credit-bond, life insurance). The broker positions itself as the leading partner to insurance companies trying to increase their capacities and protect themselves in case of excessive volatility.  

    At one point Willis Gras Savoye Ré considered internally developing their own solution, before opting for the WebXL platform from Effisoft, which distinguished itself through its advanced features and professional dimension. Thanks to a development led collectively by Effisoft and Gras Savoye Ré, the WebXL solution has been adapted to the specific needs of brokerage, notably in sales management.



    Source: La Tribune de l'Assurance

Press Contact:
Agence MyNtic-PR / PRMinds
Franck Tupinier
06 74 68 37 93
ftupinier@myntic-pr.com

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