DEVK goes live with new Faktor-IPM policy system
DEVK has been processing new business via Faktor-IPM since January. An integral part of the new policy system is the open source product system Faktor-IPS.
DEVK goes live with new Faktor-IPM policy system and successfully migrates 1.3 million policies – on schedule, to budget and with quality
Cologne, Germany, April 24, 2019 – The DEVK Group has successfully implemented Faktor-IPM, the policy management system by Faktor Zehn GmbH, for its household line of business. It was supported by the Cologne-based IT consultancy ConVista Consulting. The migration of 1.3 million contracts was completed at the beginning of April. DEVK has been processing new business via Faktor-IPM since January. An integral part of the new policy system is the open source product system Faktor-IPS.
The introduction of the new policy system for the private and commercial non-life business is scheduled for eight years. The go-live of the household line of business, including migration, was achieved on schedule, to budget and with quality after 22 months. The next phases of the project will include the implementation and migration of the casualty, liability and motor lines of business.
Under the leadership of DEVK, ConVista has been working on the project since July 2017. DEVK benefits from expertise from a single source: ConVista is an expert in IT consulting and the wholly owned ConVista subsidiary Faktor Zehn is a software house specializing in insurance solutions.
DEVK board member Michael Knaup is satisfied with the results so far:
“ConVista is our partner in modernizing our application landscape for non-life. The first steps with the new Faktor-IPM policy system by Faktor Zehn have convinced both IT and the business users. We believe that we have created the technical prerequisite to meet future customer expectations such as fast time-to-market and digitization.”
For more than 130 years, people have had full trust in the insurance cover of DEVK. Today, DEVK employees service approximately 4.2 million customers with more than 15.4 million risks across all clas-ses of insurance in Germany. Approximately 7,500 employees are dedicated to providing quick and efficient customer support. In ad-dition, the “Sparda” banks have been a reliable partner for many years. Based on the number of contracts, DEVK is Germany’s fourth largest home, fifth largest car, and seventh largest liability insurer.
More information about our policy system
With our policy management software Faktor-IPM, you benefit from a holistic insurance policy management system with integrated sample content for all non-life policies, commercial and motor vehicle lines of business.