Business model

New business model: Two pension funds in Cologne, Germany prepare for the future with software from adesso insurance solutions

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New business model: Two pension funds in Cologne, Germany prepare for the future with software from adesso insurance solutions

Dortmund/Cologne | 26. April 2022

In order to completely modernize their application landscapes, the pension funds Pensionskasse der Caritas VVaG (PKC) and Kölner Pensionskasse VVaG iL (KPK) opted for the standard software of the in|sure Ecosphere product family from adesso insurance solutions. PKC and KPK have also signed long-term maintenance agreements. The implementation project was launched on April 1, 2022 and is expected to last nearly two years. The aim is to keep the system landscape and processes sustainable in the long term and to use additional strategic potentials for the new business models of the two German pension funds.

New business model for pension funds

Over the next few years, PKC and KPK will systematically restructure and reorganize their application landscapes to digitize and modernize the way they do business. Pension funds are already cooperating by sharing costs and benefiting from synergies in the development of the system. This means that pension funds do not necessarily have to develop their own solutions, especially for general regulatory issues, such as insurance monitoring requirements for IT, health insurance benefits for retirees and contributions to pension funds.

As part of a new business model, they also intend to expand portfolio management as a service for other company pension plans. In the pension fund market, this approach is an innovative and bold step to meet the increasing number of regulatory requirements and to counter the increasingly difficult interest rate and investment environment by managing the portfolios of profitable way. To leverage the cost benefits of scaling off-the-shelf software, Cologne-based companies rely on the in|sure ecosphere’s multi-client software: in|sure CollPhir for management portfolio management, in|sure Partner for master data management, in|sure on GovInterface for individual contract reporting and on|on PenPay for pension accounting.

“For the renewal of our application landscape, we have found a partner in adesso insurance solutions with the necessary technical and professional expertise in the occupational pension environment, capable of meeting our requirements as well as meeting the challenges resulting from this”, says Olaf Keese, liquidator of the Cologne pension fund and chairman of the board of directors of the pension fund Caritas.

Olaf Keese, Liquidator of the Cologne Pension Fund and Chairman of the Board of Directors of the Caritas Pension Fund (Copyright: Hans Scherhaufer)

“We are proud to be able to support PKC and KPK in developing their new sustainable business model with our software,” says Dr. Michael Höhnerbach, Managing Director of adesso Insurance Solutions and adesso Benefits Solutions. “In this way, we are establishing ourselves even more strongly as a leading IT provider and consulting company in the occupational pensions market, which is strategic for us.”

Dr. Michael Höhnerbach is Managing Director of adesso Insurance Solutions and adesso Benefit Solutions. (Copyright: Hans Scherhaufer)

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SA published this content on April 26, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on April 26, 2022 07:19:01 UTC.

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