SV SparkassenVersicherung Opt for Data Warehouse and Reporting Solution by labs
SV SparkassenVersicherung (SV) have opted for the implementation of three software products by lupus alpha Business Solutions (labs). Based on the data warehouse labs.DWH, the related ETL management solution labs.ETL and the reporting solution labs.FundCockpit, a new central data management and reporting platform will be established at SV.
All of the capital investment activities of SV, especially asset management, accounting and financing, are bundled under the umbrella of the capital investment and finance sections. Alongside these, the users of the new platform will be located in the real estate management and controlling departments.
One of the major aims of the implementation project is to provide an overall view of all asset classes. Therefore, manual queries for information from various sources, which are then combined into Excel, will be replaced. “labs convinced us with a technically mature data model and the integrated, modern reporting solution. Our aim of creating a more efficient controlling in the areas of capital investment and finance is supported by this decision,” explains Dr. Michael Völter, board executive of SV, the decision in favour of labs. He is positive towards the project’s future, “We value labs as a project partner and highly rely on their experts, who have already successfully realised projects with similar technical and functional requirements and, furthermore, are skilled in the administration of SimCorp Dimension, our primary accounting system.”
Meeting the regulatory requirements of Solvency II Directive and the coverage of the entire reporting to supervisory authorities, are further objectives to be achieved by the implementation of the new platform. In future, aggregated data from various source systems will be delivered to the Solvency II solution SOLVARA via one especially developed interface. Michael Aben, head of business development at labs, is grateful for SV’s trust in labs, “We are looking forward to the cooperation with SV, which is an important new customer from the insurance industry for us. We are confident in our ability to support them in achieving their aims with our products, especially considering the increasing regulatory requirements. I am positive that our cooperation will lead to a successful project.”