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Itello offers the integrated standard Life and Pension Policy Administration System Inca to primarily larger insurance companies in the Nordic countries. We believe in the needs by the insurance is regional and see similarities between the Nordic countries, especially the transition from a defined benefit to a defined contribution pension system, which can be handled by our flexible system. This regional focus and knowledge give us an advantage compared with most other vendors.

Itello is the leading PAS vendor in the Nordic market according to the Gartner EMEA PAS Magic Quadrant 2018 and our wins in recent system procurement processes in the Nordic countries. Our latest customer is the bancassurer Nordea, life insurer Skandia and service centre Fora. All are replacing bespoke legacy systems.

Since interception 2003 Itello has helped life insurers with multiple bespoke legacy systems to consolidate their administrative operation to one single system. Itello has therefor long and in-depth knowledge and experience from over 20 migrations supporting our customer's transition programs to become more digitised and automate the administrative processes.

Over the years, Itello has developed and maintains an extensive range of integration to external organisations to increase automation and reduce costs for our customers. Besides automation Itello also provides capabilities for digitising dialogues with brokers, tied agents, corporates and consumers either via our portal frameworks or via web services.

Our customers also appreciate our regulatory commitment enable them to be compliant with new legislation such as FATCA, GDPR, IDD, MiFID, IORP 2 and IFRS17. Our established collaboration model grants that new functionality meets their business needs.

Here are some essential features and benefits Itello provide the market.

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 fix 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 allow all customers to use the same standard codebase and always be on the latest release of the Inca software. This secures that 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 codebase
  • 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 comprehensive 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 support 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 players
  • 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.

Excellent 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. The co-operation model is a prerequisite for the collaborations fora we manage in harmonising customer requirement in a different topic. Example of successful collaborations are the implementations 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.
  • Itello Live is the recently launched cloud offering, fully managed, and adequately maintained.