Nordic pension giant chooses Inca in public cloud from Itello
Fora will administrate 4 million insured and manage 1.6 Billion EUR in premiums a year in Inca
Fora is a service company with a customer-driven approach that makes it easy for companies and employees to review their collectively agreed pensions and life insurances in Sweden. Fora manage over 500 active occupational pension plans; all served by Inca when in production.
Daily, Fora ensure that collectively procured premiums, and fees are correctly managed, calculated, billed and transferred. This will be seen in the light of increased requirements and expectations for flexibility and digitisation. Therefore, Fora is strengthening its operation for the future and increasing the opportunity to offer cost-effective services and products that meet our partners' and customers' expectations and needs by implementing a cloud-first strategy.
"We are very proud to have earned additional trust from Fora. The contract strengthens our strategic partnership and confirms the competitive strength of our cloud offering of Inca. By relocation their business-critical IT system to the cloud, Fora is really on the leading edge of technical and digital development in the life and pension industry," says Mats Lillienberg, CEO of Itello.
Cloud-first strategy compliant with GDPR and financial supervisory authority requirements regarding outsources IT-operations
When Fora and Itello signed the initial agreement in fall 2018, the deployment method of Inca was not set. Traditionally, organisations in the life and pension industry have chosen an on-premise deployment of Inca and a hosting partner. During the spring 2019 Fora rolled out their cloud-first strategy by replacing their on-prem SAP implementation with a cloud-based general ledger system.
Next step was to review the options to enable the chosen policy administration system Inca. The procurement process included several offerings from carefully selected providers.
Itello winning public cloud solution is based on Microsoft Azure and best practice blueprints for outsourced IT-operation governed by local financial supervisory authorities in the Nordic countries to ensure full compliance and guaranteed availability.
The decision to enable Inca on Microsoft Azure is based on the regulatory commitment Microsoft has shown to the Swedish finance industry and dialogue with Sweden's financial supervisory authority – Finansinspektionen and the technology provided by Microsoft. The cloud enables Itello to do what Itello do best; provide the Nordic market's leading Policy Administration System Inca for the life insurance and pension industry. The chosen cloud platform enables access to general tools for Business Intelligence, predictive analysis, (deep) Machine Learning from Microsoft and their partners.
With Microsoft Azure, Itello can safely take advantage of the cloud to offer our customers a service with proven technology at the forefront. We are achieving cost efficiency, highest available security and compliance, total redundancy and, not least, a flexible and scalable service. To achieve guaranteed availability, Itello includes all core parts in the service such as fully redundant and scalable infrastructure, 24/7 monitoring, installation services, compliance and more. All this to enable Fora to focus on their core business.
"This is very inspiring for Itello, our first customer for our cloud enablement of Inca will be one of the largest PAS installations in a public cloud in the Nordic countries. With the deal and Fora in production, Itello will be able to continue to enhance our services, letting our customer focus on their core business", says Fredrik Aminoff Product Manager for Inca SaaS. Itello Live is the name of our service to consume Inca as a SaaS with a set of managed services and service SLA.
"With Itello Live, Inca is complemented with a cloud-based managed application service that also makes Itello responsible for the availability and, in turn, gives Fora a better opportunity to focus on business," says Christoffer Eile, CIO of Fora.
The contract includes a proof-of-concept of the services that will go live in production in 2020 when successful.
For more information, contact:
Salifou Bah, head of the SaaS business area, +46 70 295 22 64, firstname.lastname@example.org