Inca

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Overview

A flexible IT-support for your operation

Get rid of old systems and expensive technical platforms, difficulties in keeping skills, maintaining documentation and constantly having to take resources from the operations for requirements analysis and testing.

Replace existing systems and take advantage of the benefits of a system developed to make the life insurance industry more efficient. Inca supports all industry-specific processes and functions and open interfaces so that you can migrate existing stocks, create unique offers in your distribution channels and use the partners you need to develop new offers.

Leading insurance companies use Inca in Sweden. Whether you want Inca as a SaaS service or on your own servers, you have all the functionality you need. Inca will be your hub for the future of your operation supporting the life insurance the industry of today and tomorrow.

Enables your digital transformation

Leave system-independent interfaces and depend on batch-oriented systems when you need to create digital customer dialogues.

With all product versions, offers, fees, discounts, commissions, Inca, open interfaces and industry-leading integrations, you create the opportunity to automate internal processes and digitise digital interactions with partners, brokers, administrators, and customers.

You can be interesting and relevant by combining the information in Inca with product and service offering with digital dialogue that guides the adviser, the intermediary or the customer to the right decision. Digitization also opens up for the suppliers you choose to sharpen your offers to customers and partners.

Meet continue business and cost-efficiency

Without low costs, you will never be eligible for procurement or can produce competitive offers. An ever-increasing changing market means that revenues in your current business are also threatened by low-cost alternatives and by pension payments.

Many systems used for similar products and processes often require specialised employees to manage the administration of all different offers. Self-developed diverse system solutions create complex and expensive management. Demanding new needs, streamlining operations and modernising IT support in-house takes time and creates only different solutions.

Inca a fully integrated system that can be introduced into your business step by step and replace outdated solutions. This will increase your cost savings.

Itello has since the company was formed, as a clear guiding principle, be able to offer the market's most complete, robust and cost-effective system for insurance administration. We work daily to develop solutions that enable our customers to improve and streamline their operations by systematising, digitising and, to the extent possible, automating processes that have previously been wholly or partly handled manually.

Create business agility and flexibility

In addition to supporting and streamlining the existing business, you need to be able to develop the new digital business. New procurements and regulatory requirements mean that it is becoming increasingly essential to meet time-to-market with the right offer and at the right price and with control of all transactions, fees and remuneration. Existing systems must be adaptable to new business models and new structures in the increasingly automated and digital eco-landscape around pension and insurance. With Inca, you provide a configurable product studio that makes it possible to version existing and deliver new offers to the market continuously

Control, compliance and regulation commitment

A complex operation with many different systems poses several challenges to be able to follow new regulatory requirements and control and follow up the operations. Reconciliation of all bank accounts takes a long time to complete. Control of data, follow-up becomes a time-consuming and resource-intensive activity, and less time is spent on the forward-looking management of the business.

New legal requirements are run from the EU and the Swedish Government and aim to give the end customer higher power by increasing transparency in the products and fees they pay. Do you have the simplicity needed, or are you stuck in a complex IT architecture with outdated systems, structures and dependencies?

Key Features

One True Standard PAS

  • Inca is a Standard Policy Administration system, unlike a bespoke solution or frameworks that become difficult and hard to update over time
  • Itello has been developing and continuous refactoring the functionality and technical platforms of Inca
  • All customers are using the same code base and are on release versions within 6-months
  • Full functional coverage ensures customers to launch transformation programs leveeing multiple bespoke legacy systems and migrating to Inca using our stepwise migration strategy, flexible configuration engine and ruled based processes.
  • Inca has extensive support for fund order management and fund management capabilities. Unlike many of our competitors, Itello view fund order capabilities as a central part of a PAS. The functionality is by all customers offering unit-linked, endowment insurance and fund saving pension products.
  • Inca makes our customers regulatory compliant for the products and processes supported by Inca. Our regulatory commitment is even regulated in our software and licensing agreement.
  • Itello has strong customer commitment. We correct software errors and also correct the error they caused in in production environment by providing patches unlike other vendors only providing defect patches of the software.
  • A configurable standard system fully integrated into the Nordic pension eco-system, e.g. to payment providers, authorities, regulators, fund trading platforms, brokers

By using model-based architecture, individual configurations for each customer can be deployed according to their unique data model and business process templates and application environment. The unique model-based architecture and customer configuration capability allows all customers to use the same standard codebase and always be on the latest release of the Inca software. This secures our customers always to be compliant with new laws and regulatory requirements and facilitates customer's decision transferring the on-prem installation to cloud solution of Inca.

A modern technical platform

  • Inca has been browser-based with the business layer in Java since interception of Itello 2003
  • Single code base
  • Genius architecture
  • Model-driven
  • Running on Microsoft operative system and database and any web browser ensures a sure and cost-efficient technical platform adapted for cloud services provided by Microsoft Azure
  • Open for integrations via Inca Connectivity Framework consisting of Inca Web Services, Inca Integration HubInca Integration Framework and Inca Portal Application Framework
  • Cloud-agnostic
  • Future fit

A holistic whole product offering

  • Besides our product Inca, Itello offer complementary services and products to provide a holistic whole product offering
  • itello provides a range of services ensuring our customers with their choice of Itello as supplier and partner, enabling them to develop their business. Itello provides feasibility studies, implementation, configuration, and supporting further business development
  • Itello offers several complementary products providing the business support our customers need today. With our open interfaces, customers can be sure that they get the support they need for tomorrow's offerings, no matter how they distribute them or which vendors you choose.

Strong business support and functionality cover enabling bespoke legacy transformation programs

  • Inca handles large policy volumes in one of the most massive policy migrations (over 5 million policies) in Europe according to your PAS EMAS MQ report 2018. Our largest installation handled over 8 500 000 policies.
  • The vast number of policies requires a very high degree of automation and integrations to industry player
  • Inca has proven its capabilities and is now the preferred platform of several Nordic life insurance companies carrying through their transformation programs from bespoke legacy systems.
  • Inca is a homogenous, integrated and component-based software which covers all business processes end-to-end for the life-and pension industry. Inca supports all major business processes including Product Development, Sales, Client and Policy Administration, Invoicing and payments, Risk assessment, Claims management and Outgoing payments with as streamlined and automated processing as possible.
  • Inca contains a generic and configurable insurance policy model which enables the possibility to create a great variety of life- and pension products and short time-to-market for new product launches.
  • Inca contains extensive support for a highly automated retroactive management of events and transactions, such as changes in wages, employment and premiums, which is typically a cumbersome manual process.

Deep Nordic market focus/skills

  • Itello has broad and in-depth knowledge (actuaries, business analysts, technical analysts, developers, project managers) available for our customers throughout the system life cycle. Our personnel are experts on the life- and pension industry in Sweden as well as other Nordic countries
  • Itello also provides an established co-operation model with all customer ensuring in-depth market knowledge. This is a prerequisite for the collaborations fora we manage in harmonising customer requirement in a different topic. Example of successful collaborations is the implementation of regulatory support for Solvency 2, GPDR, IDD, PRIIP, FATCA, MIFID2 and now ongoing collaboration fora for IORP2 and IFRS17. Other fora are focusing on local Swedish topics.
  • Inca contains over 30 readymade integrations to the Nordic life and pension’s eco-system. These integrations include service centres, brokers, payment systems, minPension, Morningstar, depo systems, Mutual Fund Managers, Nasdaq Fund Market, tax authorities in Sweden, Norway and Denmark.

A market leading service offering

  • Itello provides dedicated customer teams consisting of professional experts supporting feasibility studies, implementation and migration as well as Managed Service and Support to all customers. With a track record of 100% successful implementation projects, Itello has a unique position on the Nordic market.

Key Benefits

Migration strategy from bespoke legacy systems to a modern connected PAS platform

  • The Nordic insurance industry developed an in-house solution beginning in the 70s to automate the manual processes of policy administration. New procurements of occupational pension plans required enhanced system support. The in-house development regime was the main street in the Nordic countries until the dawn of the 2100-century. Now Itello has proven that Inca can replace the bespoke legacy systems. Swedbank and AMF are two customers that already completed their migrations and ran all insurance policies in one system – Inca. SPP, Folksam, Nordea and Movestic are currently running migration programs/projects to migrate business lines support and policies to Inca. The strategy has been very successful with a total success rate in all 22 migration projects. Furthermore, the approach is very cost-efficient and also reduce the need for a complimentary Data Management System and project.
  • Inca handles large policy volumes in one of the most massive policy migrations (5 million policies) in Europe according to your PAS EMAS MQ report 2018. Our largest installation handled over 8 500 000 policies.
  • The vast number of policies requires a very high degree of automation and integrations to industry players
  • Inca has proven its capabilities and is now the preferred platform of several Nordic life insurance companies carrying through their transformation programs from a bespoke legacy system.
  • Inca is a homogenous, integrated and component-based software which covers all business processes end-to-end for the life-and pension industry. Inca supports all major business processes including Product Development, Sales, Client and Policy Administration, Invoicing and payments, Risk assessment, Claims management and Outgoing payments with as streamlined and automated processing as possible.
  • Inca contains a generic and configurable insurance policy model which enables the possibility to create a great variety of life- and pension products and short time-to-market for new product launches.
  • Inca contains extensive support for a highly automated retroactive management of events and transactions, such as changes in wages, employment and premiums, which generally is a cumbersome manual process.

Deep Nordic market focus/skills

  • Itello has Broad and in-depth knowledge (actuaries, business analysts, technical analysts, developers, project managers) available for our customers throughout the system life cycle. Our personnel are experts on the life- and pension industry in Sweden as well as other Nordic countries
  • Itello also provides an established co-operation model with all customer ensuring in-depth market knowledge. This is a prerequisite for the collaborations fora we manage in harmonising customer requirement in a different topic. Example of successful collaborations is the implementation of regulatory support for Solvency 2, GPDR, IDD, PRIIP, FATCA, MIFID2 and now ongoing collaboration fora for IORP2 and IFRS17. Other fora are focusing on local Swedish topics.
  • Inca contains over 30 readymade integrations to the Nordic life and pension's eco-system. These integrations include see, brokers, payment systems, MinPension, Morningstar, depo systems, Mutual Fund Managers, Nasdaq Fund Market, tax authorities in Sweden, Norway and Denmark.

A market leading service offering

  • Itello provides dedicated customer teams consisting of professional experts supporting feasibility studies, implementation and migration as well as Managed Service and Support to all customers. With a track record of 100% successful implementation projects, Itello has a unique position on the Nordic market.
  • Itello Live is our launched cloud offering, fully managed, and adequately maintained.

Solid finances

  • Growth with good profitability from the start
  • Turnover of 260 MSEK
  • The highest credit rating AAA for over a decade

Sustainable and secure

  • ISO 14001 certified environment management
  • ISO 26000 verified social responsibility
  • ISO 27001 certified information security