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Process optimization via software development and integration

Pensions and Life

Retirement and pension systems are going through major changes in many parts of the world.

As state pension schemes will struggle to meet the financial needs of the majority of the retired population, private pensions are more important than ever. Furthermore, regulatory changes, digitalization and new business models are all major challenges for insurers. Needless to say the profitability of pension institutions is also heavily influenced by their internal costs.

Faktor Zehn offers an ideal solution & platform for pension providers to manage their products (for example Defined Benefit/Defined Contribution/Collective Defined Contribution Pension Schemes etc.) and processes, whilst complying with regulatory requirements. Our solutions are helping pension providers move to the modern world of SOA-based architecture and reducing complexity.

We offer end-to-end process for pensions products administration, products calculation and pension scheme maintenance & policy creation fitting into the landscape of our customer enterprise architecture.

Flexibility to cater for complex pension products, out of the box processes, quick and easy configurability with a modern application framework. Our solution translates into benefits such as cost reduction, speed to market and adherence to legal compliance timeframes for our customers.

Product administration

  • Fexible modelling of pensions reference model, arbitrary model structures, hierarchic and non-hierarchic structures of 1-n relationships
  • Composition of customer proposition through context questions and product choices
  • Maintainable configuration logic of pensions schemes
  • White label support

Policy administration

  • Supports all aspects of pensions policy life cylce from quotation to policy issuance and policy servicing
  • Standard framework for change proceses (change of salary, apply/remove additional coverage, discontinue employment, transfer of pension rights)

Offer and quotation system

  • Omnichannel - supporting new and existing business across pensions
  • Speed to market - Configuration of mainstream pension products (Defined Benefit, Defined Contribution, Hybrid Schemes)
  • Ease of integration - open achritecture and web services integration points
  • Supports wide range of pension process
  • Simplification and implementation of regulatory changes

Shashank Jain

+49 89 520 311 646