ITC DIA Europe

msg.Insurance Suite (SaaS): Digitalisation out of the box, all in one and ready-to-use

Written by Jolijn Schalkwijk on May 27, 2024

To offer outstanding customer service, implement new business models and benefit from promising technologies, insurers need to modernise their IT. In addition, growing regulatory requirements must be implemented and costs must be reduced. The increasing shortage of skilled labour is further exacerbating this situation. Modernising IT is a lengthy and time-consuming process that ties up substantial resources and is associated with high initial costs.

With the use of a pre-integrated complete solution, like SaaS platform msg.Insurance Suite, the introduction of a modern IT landscape can be significantly shortened – with considerably lower initial costs. The platform significantly reduces time to market, ensures compliance with industry standards and allows insurers to outsource IT tasks, enhancing operational efficiency. By leveraging SaaS, businesses can rapidly deploy new applications and features, maintaining a competitive edge while adhering to regulatory requirements. The SaaS model based on ‘pay per use’ is just as suitable for large insurance companies as it is for small and medium-sized insurers.

msg.insurance Suite is completely available in the cloud, not just individual parts. They also take over the complete operation of the solution (technical system operation and specialised application operation). This means that insurance companies are relieved of IT tasks as much as possible and can focus on competitive issues. Insurers can map their entire business via the platform. The platform is designed to support multiple instances, allowing each customer to operate in their isolated environment. This multi-instance approach enhances security, customization, and scalability. By leveraging multi-instance architecture, the company ensures that each customer’s data and applications are isolated, significantly reducing the risk of data breaches and cross-customer vulnerabilities. This robust security framework is crucial for maintaining customer trust and regulatory compliance. At the same time, the economic and scaling advantages of the cloud, often referred to as cloudonomics, can be fully utilized.

How it works

msg.Insurance Suite is an end-to-end integrated complete solution for fully digitalised insurance operations across all lines of business. The solution is complete in all dimensions – in terms of functionality, security and data protection requirements. msg.Insurance Suite consists of independent and preconfigured (upgradeable) standard software components that can be used individually or in any combination.

Why did we select msg insur:it for ITC DIA Europe Amsterdam?

Milenko Radic, Member of the Board of msg insur:it, will present msg.Insurance Suite (SaaS), an end-to-end SaaS platform for all lines of business combined with AI-supported process automation. The solution offers a high degree of automation (including AI-supported process automation) and standardisation, without restricting customisation options. msg.Insurance Suite (SaaS) is compatible with all common hyperscalers on the market.

msg insur:it offers a complete range of solutions, built around the all-in-one platform msg.Insurance Suite, for insurers of all sizes and in all segments – everything under one roof. In addition to standard software, msg insur:it provides full integration, migration and deployment services for the core system msg.Insurance Suite (SaaS), including perpetual upgradeable maintenance, application management and operation/hosting (full stack operation of the platform across all stages). This means that they largely relieve insurers of IT tasks so that they can focus on innovation.

msg.Insurance Suite is already productive in the cloud (AWS) for one customer. The SaaS platform is currently being developed for three other customers. Individual elements of msg.Insurance Suite are being used in various combinations by numerous well-known customers.

Who is msg insur:it?

msg insur:it has been on the market for almost 45 years and has successfully completed a large number of major projects with well-known insurers. They are founded in 1980, have 2,000 employees, EUR 300 million in revenue, more than 150 successful major projects, and a global expertise with local presence (19 locations in eight countries in Europe and USA).

Their range of services include standard software, portfolio migration, AI solutions, operations.

Msg insur:it is part of the msg Group with 10,000 employees in 32 countries around the world, AWS partner.

“The goal of msg insur:it is to develop world-class, technically and technologically sophisticated solutions to guarantee long-term success for our customers in the insurance sector.”

Milenko Radic, Member of the board at msg life ag and msg nexinsure ag
Amsterdam 12-13 June

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